UAE to boost trade exchange with Azerbaijan

WAM -- The existing economic cooperation levels between UAE and Azerbaijan do not reflect the true potential boasted by the two countries, according to Sultan bin Saeed Al Mansouri, UAE Minister of Economy.

The minister's statements came in the run up to the 6th meeting of the UAE-Azerbaijan Joint Commission on Economic, Commercial and Technical Collaboration to be held in Abu Dhabi on 20th April.

Ways of strengthening economic collaboration in areas of tourism, energy, environment and natural resources will be the core issues of discussion at the meeting, to be held under the chairmanship of the UAE Minister of Economy and Shahin Mustafayev, Minister of Economic Development in Azerbaijan. The meeting will bring together top government and private sector executives and businessmen from the two countries.

"The committee meetings are a good platform to promote bilateral economic relations and augment investment and trade exchange between the two countries in a way that fulfils the expectations of their leaderships," said Mr. Al Mansouri.

He added that the non-oil trade exchange between the two countries, which reached US$605 million by the end of 2015, is yet to reflect the prospects of cooperation and the potential boasted by the two countries, and more efforts have to be made to utilise the available opportunities and resources to drive the bilateral economic relations to new heights.