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

'Circle Dubai' initiative sets new standards for waste management

Dubai Municipality has launched a major sustainability initiative called 'Circle Dubai', unveiled during the Asia Pacific Cities Summit and Mayors’ Forum at Expo City.
H.H. Sheikh Hamdan highlights Dubai’s vision for sustainable urban development

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, attended the opening of the 2025 Asia Pacific Cities Summit and Mayors’ Forum at Expo City Dubai on Monday.
H.H. Sheikh Mohammed launches Al Maktoum Archives

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended the launch of the Al Maktoum Archives, a facility aimed at preserving the rich legacy of Dubai’s rulers.
Fujairah F3 plant set to power 380,000 homes as operations kicks off

The Fujairah F3 Independent Power Producer (IPP) project has officially begun commercial operations, with the 2.4-gigawatt (GW) facility capable of powering approximately 380,000 homes.
Dubai police foil robbery worth AED660K

Bur Dubai Police have foiled a major robbery and arrested two suspects just hours before they attempted to flee the country with AED660,000 in stolen cash.
H.H. Sheikh Mohammed asks UAE to raise flag on November 3

Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice-President of the UAE and Ruler of Dubai, has called on every citizen, resident and institution to hoist the national flag at exactly 11 a.m. on November 3.
Dubai hosts global city leaders for Asia Pacific Cities Summit

Reem Al Hashimy, UAE Minister of State for International Cooperation, underscored Dubai’s role as a global hub for inclusive and future-ready urban growth at the opening ceremony of the Asia Pacific Cities Summit & Mayors' Forum at Expo City.
Saqr Ghobash to lead FNC delegation to Azerbaijan

Saqr Ghobash, Speaker of the Federal National Council (FNC), will lead an official delegation to Azerbaijan from October 28-31 to attend the international parliamentary conference celebrating the 30th anniversary of the adoption of Azerbaijan’s Constitution.
Dubai Police handles 713,000 non-emergency calls in 2024

Dubai Police’s 901 Call Centre handled 713,000 non-emergency calls in 2024, achieving a 92 per cent response rate within just 20 seconds and maintaining over 92.9 per cent customer satisfaction.
H.H. Sheikh Mohammed unveils Dubai Museum of Art

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended the unveiling of the Dubai Museum of Art (DUMA), a visionary project to be developed by the Al-Futtaim Group that is set to become a new architectural and cultural landmark.
Dubai Police launch 'Fit Zone 2025' to support inmates' health

Dubai Police have launched a new fitness programme, 'Fitness Zone 2025', that aims to enhance the physical and mental wellbeing of inmates, in line with the upcoming Dubai 30X30 fitness challenge.
Abu Dhabi to host global pledging event for polio eradication

The Mohamed bin Zayed Foundation for Humanity will host a major pledging event in Abu Dhabi on December 8 to support global efforts to eradicate polio.
H.H. Sheikh Hamdan congratulates Dubai's first Student Council

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, has congratulated the Emirate's first 16-member Student Council, calling them the "voice of Dubai".
Abu Dhabi Crown Prince to lead UAE delegation at APEC Summit

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, will be heading to South Korea to attend the Asia-Pacific Economic Cooperation (APEC) Summit.
UAE condemns Israeli Knesset move to annex West Bank

The UAE has strongly condemned the Israeli Knesset’s preliminary approval of two bills seeking to impose Israeli sovereignty over the occupied West Bank and legalize control over a settlement.
UAE breaks ground on world’s largest solar and battery project

The UAE has started construction on the world’s largest renewable energy project integrating solar power and battery storage, capable of delivering one gigawatt of clean energy around the clock.
AED 500 million endowment to support Arab Reading Challenge

In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Sobha Realty has pledged AED 500 million for an endowment to support the Arab Reading Challenge.
Sharjah to enforce new lane rules for bikes, trucks and buses

Starting November 1, Sharjah Police will enforce new lane rules for motorcycles, heavy vehicles and buses to improve road safety across the emirate.
Tunisian twins crowned Arab Reading Champions

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has crowned Tunisian twins, Bisan and Baylasan Kouka, the Arab Reading champions.
Dubai simplifies permit process for Emirati villas

Dubai Municipality has accredited several engineering consultancy offices to issue self-build permits for Emirati villas, starting a new phase in streamlining housing services.

News

'Circle Dubai' initiative sets new standards for waste management
Dubai Municipality has launched a major sustainability initiative called 'Circle Dubai', unveiled during the Asia Pacific Cities Summit and Mayors’ Forum at Expo City.
H.H. Sheikh Hamdan highlights Dubai’s vision for sustainable urban development
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and the UAE's Deputy Prime Minister and Defence Minister, attended the opening of the 2025 Asia Pacific Cities Summit and Mayors’ Forum at Expo City Dubai on Monday.
H.H. Sheikh Mohammed launches Al Maktoum Archives
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended the launch of the Al Maktoum Archives, a facility aimed at preserving the rich legacy of Dubai’s rulers.

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