Ministers and officials in the UAE government: The economic partnership with Azerbaijan enhances strategic cooperation
Abu Dhabi, July 10 / WAM / Ministers and officials in the UAE government stressed that the signing of the comprehensive economic partnership agreement with the Republic of Azerbaijan is an important step within the state’s efforts to build an integrated network of economic and commercial partners, especially in light of the great strategic strategic importance of the Republic of Azerbaijan thanks to its unique geographical location that links Europe and Asia, which makes it a major axis of international trade Basic for maritime transport and a corridor for energy transport.
The owners of His Excellency and Happiness also pointed to the strength of the Azerbaijani economy thanks to the large reserves of oil and natural gas, in addition to the rich natural wealth that constitute a strong basis for economic growth, as well as adopting a legal and legislative environment that supports investment projects.
His Excellency Mohammed bin Hadi Al -Husseini, Minister of State for Financial Affairs, stressed that the comprehensive economic partnership agreement between the UAE and Azerbaijan is the latest in a series of agreements that contribute to the stability of the Emirati economy and its investment attractiveness, noting that the UAE achieved with nine agreements for comprehensive economic partnership, a standard non -oil trade of 2.997 trillion dirhams in 2024, an increase of 14.6% over 2023, and that The UAE will, with more anticipation in the future, enhance economic growth and diversification by strengthening relations with partners and major markets around the world.
His Excellency Suhail bin Muhammad Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, said that the comprehensive economic partnership agreement between the UAE and the Republic of Azerbaijan constitutes a new important path for our energy sector, as it provides wide opportunities for investment, cooperation and innovation, while we seek to support the transformation in the field of energy across the Middle East, Asia and Europe regions.
His Excellency added: “Azerbaijan has tremendous potential in the field of renewable energy, especially wind energy, solar energy and electrical energy, and our capabilities and resources can contribute to enabling it to take optimal benefit from these capabilities, and this agreement also enhances the cooperation of the private sector, encourages the transfer of knowledge, and we look forward to joint work to define available opportunities and benefit from them.”
His Excellency Dr. Sultan bin Ahmed Al -Jaber, Minister of Industry and Advanced Technology, stressed that the comprehensive economic partnership agreement between the UAE and the Republic of Azerbaijan is in line with the vision of good leadership to enhance communication and cooperation with the international community and build qualitative partnerships that contribute to supporting progress, diversifying the economy, enhancing industrial growth and productivity, and stimulating technological innovation.
He added: “The agreement is an additional step that contributes to strengthening the targets of the national industry and advanced technology in the UAE, in order to support the arrival of Emirati industrial exports to new markets, stimulate joint projects and exchange knowledge between the two countries.”
His Excellency pointed out that this agreement opens new horizons for cooperation in important sectors such as petrochemicals, food production and auto parts.
His Excellency Abdullah bin Touq Al -Marri, Minister of Economy, said that the comprehensive economic partnership agreement between the Emirates and Azerbaijan supports strategic plans to enhance economic growth in the country; It contributes to stimulating commercial flows, reducing customs duties and providing a strong basis for Emirati companies to reach regional markets in the Eurasia region. The Azerbaijani companies will also be able to benefit from the UAE website as a portal of the main markets in Africa, Asia and Europe, which helps to increase the bilateral flow of goods and support the logistical services and manufacturing sectors with value added.
He added: “While we seek to achieve the goals stipulated in the Emirates 2071 Celsius, the agreement will enhance economic cooperation and support efforts to achieve long -term sustainable growth.”
His Excellency Mohammed Hassan Al -Suwaidi, Minister of Investment, stressed that the comprehensive economic partnership agreement between the UAE and Azerbaijan opens another important path for the UAE investment community, adding: “We have already committed to a total investment flow of one billion dollars in promising opportunities in Azerbaijan, which makes the Emirates the first Arab investor in it, and the agreement will encourage more capital flows with the cooperation of our private sectors in areas such as logistical services and manufacturing services Energy and transportation. We are also keen to encourage Azerbaijani projects to reach the vital market in the UAE and benefit from its system that provides global connection and supports innovation and provides a multi -language workforce with high scientific qualifications.
His Excellency Dr. Amna Bint Abdullah Al -Dahhak, Minister of Climate Change and Environment said: “The UAE and Azerbaijan shared a clear commitment to sustainability and environmental initiatives, as the UAE has been left as a host of the Conference of the Parties, and between the (COP 28) conference in Dubai and the COB 29 conference in Baku, we have built an important partnership on climate change issues, which we culminated by supporting the armistice call at the conference in the conference (Cup 29) Other ads.
She added, “Through this agreement, we can cooperate with Azerbaijan in bilateral and regional environmental projects that enhance biological diversity, sustainable agriculture, renewable energy techniques, and address common challenges such as food security and climate flexibility. The agreement supports innovative solutions that enhance environmental sustainability, and it plays a vital role in long -term environmental health and the economic luxury of our countries.”
His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade, confirmed that Azerbaijan represents an important commercial and investment partner for the UAE. It is located in the Caucasus region of growing importance, at the Forum of East Europe and Western Trade Roads. This was also reflected on our non -oil bilateral trade, which increased by 36.2% last year to reach 2.24 billion dollars, equivalent to 50% of Azerbaijan’s trade with the Gulf Cooperation Council countries.
He said that the signing of the comprehensive economic partnership agreement between the two friendly countries is a qualitative step that promotes this growth. This agreement will open broad prospects for more opportunities, especially in the manufacturing sectors, vehicles, agriculture, logistical and financial services. He added: “Trade is the focus of our economic agenda, and agreements with countries with ambitious future visions, such as Azerbaijan, supporting the path of achieving the growth and prosperity that we seek.”
His Excellency Ahmed bin Ali Muhammad Al -Sayegh, Minister of State at the Ministry of Foreign Affairs said: “The UAE and Azerbaijan have strong diplomatic relations since 1992, and the comprehensive economic partnership agreement reflects our aspirations to enhance our international cooperation based on a common vision of sustainable growth. By signing this agreement, we can build strategic alliances that enhance our common interests, and enhance our position in regional and global dialogues. The goals of our foreign policy, and we are able to agree with other countries on issues such as climate work and economic sustainability.
His Excellency Khaled Mohammed Al -Buma, Governor of the United Arab Emirates Bank, said: “The comprehensive economic partnership agreement between the UAE and the Republic of Azerbaijan embodies the vision of rational leadership by strengthening development partnerships and consolidating international cooperation to achieve common interests, and at the same time reflects the state’s efforts to improve economic growth, raise the frequency of the flow of foreign investments, expand the scope of Emirati exports in global markets, and diversify opportunities for progress against the private sector, And consolidating its position as a global commercial and financial center. “
He added: The partnership agreement provides promising opportunities to deepen cooperation between the UAE and the Republic of Azerbaijan in all fields, and to establish joint projects that support economic goals. It also provides a wide way to support efforts to enhance financial and monetary stability regionally and globally, develop cooperation opportunities in the financial services sector, strengthen partnership relations in the financial, banking and insurance sectors, develop financial infrastructure projects, and establish innovative solutions in the financial technology sector, and border payment systems. We are ready to support this partnership through our integrated financial system, and our expertise in the fields of supervision, supervision, financial technology and payment systems, in a way that contributes to the sustainability of economic growth and financial stability in the country, and achieves the common interests of the two friendly countries.
“It is the largest commercial partner for Azerbaijan in the Arab world, the UAE represents an important gateway to African and Asian markets for its main exports of fruits, vegetables, plastic, cars, auto parts and precious stones. The comprehensive economic partnership agreement will work to strengthen our commercial relations. The growth by removing barriers to trade and improving the markets.
His Excellency Abdullah Al -Basti, Secretary -General of the Executive Council of Dubai, said: “The comprehensive economic partnership agreement between the UAE and the Republic of Azerbaijan represents a strategic step towards enhancing economic and trade cooperation between the two sides, opening new horizons in vital sectors such as innovation, tourism and technology. This agreement supports national goals that seek to raise the value of foreign direct investment, increase the volume of foreign trade, enhance local demand for goods And services. The UAE is a global gateway to trade and an investment destination, and this partnership contributes to enabling initiatives that create quality jobs, attract global talents, and support sustainable economic development.
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