Page 548 - MOE ENGLISH PR REPORT - AUGUST 2024

The bilateral meeting highlighted the existing great potential for developing cooperation, stressing
the importance of further increasing mutual trade volumes and diversifying its structure.
Discussions were held on potential investment projects in the fields of green energy and tourism,
as well as the progress of negotiations on signing a Comprehensive Economic Partnership
Agreement between Azerbaijan and the UAE.

Afterward, the 9th session of the Joint Intergovernmental Commission on Economic, Trade, and
Technical Cooperation between the governments of Azerbaijan and the UAE took place.

Speaking at the session, Jabbarov noted the successful development of the partnership between
Azerbaijan and the UAE.
The minister emphasized the growth of trade turnover between the countries and the positive
results of joint initiatives.

Participants in the event were briefed on the favorable business and investment environment
created in our country, the activities of industrial zones and the Alat Free Economic Zone, as well as
the 'open door' policy conducted for foreign investors. Investors from the UAE were invited to take
advantage of the applied investment support mechanisms and participate in the implementation of
joint projects.

The UAE minister of economy expressed satisfaction with the visit to Azerbaijan and the
organization of the commission's meeting in Shusha.

He stressed the country's significant development, drawing attention to important energy,
transport, and logistics projects implemented at Azerbaijan's initiative.

Confidence was expressed that the measures taken to strengthen multifaceted cooperation
between the two countries would contribute to the realization of new joint projects and the
development of trade and economic relations.

The parties also discussed issues of strengthening bilateral partnerships, implementing joint
initiatives in green energy and other areas, and potential areas of cooperation within the framework
of COP29.

At the end of the 9th meeting of the Joint Intergovernmental Commission on Economic, Trade, and
Technical Cooperation between Azerbaijan and the UAE, a protocol was signed.

The document signed by Jabbarov and Al Marri envisages the expansion of cooperation in trade and
investment, support for small and medium-sized businesses, innovation and digitalization, energy,
including green energy, industry, agriculture, food security, environmental protection, land
reclamation and water resources management, transport and logistics, communications and high
technologies, science and education, tourism, healthcare, culture, and others," the statement
added.

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