UAE, Azerbaijan agree to develop economic partnership

Friday, 2 August 2024 08:06

By ARN News Staff

The UAE and Azerbaijan have agreed to enhance their economic partnership across multiple sectors, including entrepreneurship, tourism, aviation, technology and renewable energy.

The decision was announced following a recent session of their Joint Intergovernmental Commission on trade and technical cooperation.

Minister of Economy Abdullah bin Touq Al Marri encouraged the Azerbaijani private sector to take advantage of the UAE's flexible business environment, citing recent legislative updates that support new ventures.

Key outcomes included the formation of joint work teams to explore collaboration opportunities, support for exporters, and initiatives to boost startup growth.

The UAE is Azerbaijan's top Arab trading partner, accounting for 40% of trade. In 2023, non-oil trade reached $1.64 billion, up 68%. The UAE has invested $1.1 billion in Azerbaijan, while Azerbaijani investments in the UAE exceeded $210 million by 2021.

#UAE, #Azerbaijan agree to develop economic partnership#WamNews https://t.co/bsA1W8M4qC pic.twitter.com/qN9hriZELm
— WAM English (@WAMNEWS_ENG) August 1, 2024

More from Local News

UAE President and Rulers offer condolences to H.H. Sheikh Mohammed

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, along with Their Highnesses the Supreme Council Members and Rulers of the Emirates, offered their condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on the passing of Sheikh Ahmed bin Rashid Al Maktoum.
Sheikh Ahmed bin Rashid Al Maktoum laid to rest

Sheikh Ahmed bin Rashid Al Maktoum has been laid to rest at Dubai's Umm Hurair Cemetery on Tuesday, following a funeral prayer attended by royals at Grand Zabeel Mosque.
UAE, partners renew push for Gaza peace plan

Foreign ministers from the UAE and seven other countries have expressed deep concern over the continuing humanitarian suffering in Gaza.
Sharjah Ruler approves major leisure project in Kalba

Sharjah is moving ahead with a major new recreational project in Kalba.
Sheikh Ahmed bin Rashid Al Maktoum passes away; 10-day mourning in Dubai

Sheikh Ahmed bin Rashid Al Maktoum has passed away on Monday, with the Court of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, declaring a 10-day mourning in the Emirate.
Funeral prayer for Sheikh Ahmed bin Rashid to be held on Tuesday

The funeral prayer for the late Sheikh Ahmed bin Rashid Al Maktoum will be held at 1:00 p.m. on Tuesday at Za'abeel Grand Mosque in Dubai.
UAE detects 377 cases of fake Emiratisation in half-year review

A total of 377 fake recruitments to bypass Emiratisation targets have been detected at private sector firms across the UAE during the first half of 2026, Ministry of Human Resources and Emiratisation announced on Tuesday.
Sheikh Abdullah meets global counterparts at UN

Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, has met with foreign ministers from a host of countries on the sidelines of the 81st session of the United Nations General Assembly (UNGA81) in New York.
Abu Dhabi to host UN congress on crime and criminal justice

The UAE is preparing to host the 15th United Nations Congress on Crime Prevention and Criminal Justice in Abu Dhabi, bringing together governments and justice experts to address emerging and cross-border crime.
Abu Dhabi strengthens greenhouse gas emissions monitoring

Abu Dhabi has introduced a new system to measure, report and verify greenhouse gas emissions across key sectors.
Sharjah Ruler approves 6,700 housing support requests

His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved all housing support requests submitted by citizens to the Sharjah Department of Housing up to September 21, 2026.
Abu Dhabi court secures AED 7.8 million in workers' dues

The Abu Dhabi Labour Court has recovered more than AED 7.8 million in financial entitlements for 948 workers after resolving three collective labour disputes within a three-month period.
Sheikh Abdullah to lead UAE delegation at UN General Assembly

Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, will lead the UAE delegation at the 81st session of the United Nations General Assembly (UNGA81) in New York.
UAE sends humanitarian aid to earthquake-hit Colombia

The UAE, working with Paraguay, has sent humanitarian supplies to communities affected by the earthquake in Colombia as part of a $10 million aid package.
UAE calls for global action to combat extremism and hate speech

The UAE has called for a more inclusive international approach to combating extremism and hate speech, with greater involvement from community leaders, young people, civil society and technology companies.
Four UAE aid convoys deliver 781 tonnes of supplies to Gaza

Four UAE humanitarian aid convoys entered the Gaza Strip over the past week carrying 781 tonnes of supplies as part of Operation Chivalrous Knight 3.
Etihad Rail launches cargo service from Fujairah to Industrial City of Abu Dhabi

Etihad Rail has launched a direct cargo rail service connecting Fujairah Terminals with the Industrial City of Abu Dhabi (ICAD) in an effort to bring trade closer to customers.
H.H. Sheikh Hamdan announces new Acting Director General of Dubai Ruler's Court

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has announced the appointment of Abdulrahman Saleh Al Saleh as the Acting Director General of His Highness the Dubai Ruler's Court.
RTA completes works on Oud Metha, Al Asayel Streets development project

Dubai's Roads and Transport Authority (RTA) has completed all works on the Oud Metha Road and Al Asayel Street development project, which included the construction of four bridges and two tunnels.
H.H. Sheikh Hamdan launches second Rashid Villages project in Zanzibar

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, on Saturday directed the launch of a second village under the Rashid Villages initiative in Zanzibar.

News

UAE President and Rulers offer condolences to H.H. Sheikh Mohammed
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, along with Their Highnesses the Supreme Council Members and Rulers of the Emirates, offered their condolences to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on the passing of Sheikh Ahmed bin Rashid Al Maktoum.
Sheikh Ahmed bin Rashid Al Maktoum laid to rest
Sheikh Ahmed bin Rashid Al Maktoum has been laid to rest at Dubai's Umm Hurair Cemetery on Tuesday, following a funeral prayer attended by royals at Grand Zabeel Mosque.
UAE, partners renew push for Gaza peace plan
Foreign ministers from the UAE and seven other countries have expressed deep concern over the continuing humanitarian suffering in Gaza.

UAE, Azerbaijan agree to develop economic partnership

More from Local News

News

Our Shows

Quick Links

Listen on the Go

UAE, Azerbaijan agree to develop economic partnership

Share

More from Local News

News

Our Shows

Quick Links

Listen on the Go