Ex­pand­ing co­op­er­a­tion in busi­ness be­tween UAE, Azer­bai­jan

Azer News - - Nation - By Amina Nazarli

Azer­bai­jan’s Econ­omy Min­is­ter Shahin Mustafayev has vis­ited Dubai, as busi­ness lead­ers from Azer­bai­jan and the UAE gath­ered in the financial cap­i­tal to dis­cuss op­por­tu­ni­ties to in­vest in Azer­bai­jan and boost busi­ness re­la­tions be­tween the two coun­tries.

The busi­ness del­e­ga­tion led by Mustafayev at­tended the 6th meet­ing of the Azer­bai­jan-UAE in­ter­gov­ern­men­tal com­mis­sion for trade, eco­nomic and tech­ni­cal co­op­er­a­tion in Dubai on April 21.

Mustafayev, addressing the event, said that Azer­bai­jan is ready to open a trad­ing house in the UAE and ap­point a trade rep­re­sen­ta­tive there.

The min­is­ter noted that Azer­bai­jan can sup­ply a num­ber of agri­cul­tural prod­ucts to the UAE – hazel­nuts, toma­toes, per­sim­mons, ap­ples, sour and sweet cher­ries, cu­cum­bers, to­bacco, cho­co­late, grapes and oth­ers – as well as in­dus­trial prod­ucts – alu­minum plates, pipes and other goods.

Sec­tors in Azer­bai­jan, which pre­sented op­por­tu­ni­ties for for­eign in­vest­ment in­cluded agri­cul­ture, ICT, trade, ed­u­ca­tion and other ar­eas.

Mustafayev said that there is great po­ten­tial to de­velop co­op­er­a­tion ef­fec­tively using the ex­ist­ing op­por­tu­ni­ties.

The United Arab Emi­rates has in­vested $778.1 mil­lion in the Azer­bai­jani econ­omy so far, the min­is­ter said adding that Azer­bai­jan has in­vested $284.4 mil­lion in the UAE. Over 255 UAE com­pa­nies op­er­ate in Azer­bai­jan.

The trade turnover be­tween Azer­bai­jan and the UAE de­clined by 3 per­cent over the year. Nev­er­the­less, ex­ports from Azer­bai­jan to the UAE in­creased by over twofold in the same pe­riod.

Mustafayev re­called that the Baku-Dubai and Baku-Shar­jah flights are cur­rently be­ing op­er­ated, while there is also a plan to launch the Baku-Abu Dhabi flight.

The min­is­ter stressed that af­ter sim­pli­fy­ing the visa regime and in­tro­duc­ing the ASAN Visa sys­tem, the num­ber of tourists from the UAE vis­it­ing Azer­bai­jan in the past two years in­creased by 30 times.

In turn, UAE Econ­omy Min­is­ter Sul­tan bin Saeed Al Man­soori sup­ported the idea of ex­port­ing Azer­bai­jani prod­ucts to his coun­try and noted that he would also sup­port the open­ing of Azer­bai­jan’s trad­ing house in the UAE and the ap­point­ment of a trade rep­re­sen­ta­tive.

The min­is­ter added that the UAE at­taches spe­cial im­por­tance to co­op­er­a­tion with Azer­bai­jan.

Af­ter the meet­ing, the two sides signed a pro­to­col that pro­vides for ex­pan­sion of co­op­er­a­tion in com­mu­ni­ca­tions and high tech­nolo­gies, al­ter­na­tive en­ergy, in­dus­try, cul­ture, tourism, trans­porta­tion, trade, in­vest­ments, agri­cul­ture, en­vi­ron­ment and other ar­eas.

Within the frame­work of visit, a del­e­ga­tion of Azer­bai­jani en­trepreneurs led by Mustafayev also had a meet­ing with the man­age­ment of DP World Com­pany in Dubai, said the Azer­bai­jani Econ­omy Min­istry.

The Azer­bai­jani del­e­ga­tion was in­formed about the work car­ried out by the DP World Group in the Free Trade Zone (FTZ) in the Alat town­ship of Baku’s Garadagh district. The sides dis­cussed the gen­eral plan on con­struc­tion of in­dus­trial and lo­gis­tics in­fra­struc­ture, de­vel­op­ment con­cept of the free trade zone and other is­sues.

Mea­sures on cre­ation of a free trade zone type spe­cial eco­nomic area cover­ing the ter­ri­tory of the Baku In­ter­na­tional Sea Trade Port in the Alat town­ship of Baku’s Garadagh district was inked by a pres­i­den­tial de­cree on March 17, 2016.

In Septem­ber 2016, the Azer­bai­jani government and Dubai Port World (DP World), one of the world’s ma­jor port op­er­a­tors, signed an agree­ment on pro­vi­sion of con­sult­ing ser­vices for the cre­ation of the FTZ.

Dur­ing the visit, the Azer­bai­jani del­e­ga­tion also met with the man­age­ment of VPS Health­care Com­pany.

Mustafayev re­called that cur­rently, two medicine plants are be­ing built in Azer­bai­jan’s Pi­ral­lahi In­dus­trial Park, which spe­cial­izes in phar­ma­ceu­tics.

The min­is­ter noted that ne­go­ti­a­tions are also un­der­way with other medicine pro­duc­ers.

Re­call­ing that the Azer­bai­jan In­vest­ment Com­pany (AIC) and VPS Health­care signed a mem­o­ran­dum of un­der­stand­ing in Fe­bru­ary, Mustafayev said that the ground­break­ing cer­e­mony of a joint phar­ma­ceu­ti­cal plant will be held in the near fu­ture.

More­over, a busi­ness fo­rum, which was at­tended by en­trepreneurs of Azer­bai­jan and the UAE op­er­at­ing in the spheres of in­dus­try, agri­cul­ture, con­struc­tion, fi­nance, tourism and oth­ers, was also held in Dubai.

The Azer­bai­jani del­e­ga­tion in­vited the UAE busi­ness­men to in­vest in pri­or­ity spheres of the Azer­bai­jani econ­omy, such as in­dus­try, agri­cul­ture, IT and tourism.

Then the Azer­bai­jani del­e­ga­tion vis­ited the Lulu su­per­mar­ket chain and met with the com­pany’s man­age­ment. Par­tic­i­pants of the meet­ing dis­cussed the is­sues of co­op­er­a­tion and sale of Azer­bai­jani prod­ucts in the com­pany’s trade fa­cil­i­ties lo­cated in the UAE and Gulf coun­tries. It was noted that Azer­bai­jani prod­ucts are in great de­mand in the UAE and some Azer­bai­jani goods, are al­ready sold in Lulu su­per­mar­kets.

Azer­bai­jani en­trepreneurs also vis­ited the Union Coop chain of su­per­mar­kets and met with its man­age­ment. Dur­ing the meet­ing, the pos­si­bil­ity of sell­ing Azer­bai­jani prod­ucts, es­pe­cially fruits and veg­eta­bles, in Union Coop su­per­mar­kets was dis­cussed. Rep­re­sen­ta­tives of the com­pany noted that cer­tain Azer­bai­jani prod­ucts, which are in great de­mand in the UAE, are al­ready sold in these su­per­mar­kets.

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