Azerbaijan, Qatar forge economic alliance with new agreement

A strategic partnership agreement between Qatar's Al Baladi Holdings and the UAE-based Green Capital Management Company, which includes Azerbaijani investments, marks a new era in the economic and business relations between Azerbaijan and Qatar.

Orhan Mammadov, Chairman of the Small and Medium Business Development Agency (KOBİA), made this announcement during the "Qatar for the World" event held in Baku, Caliber.Az reports via local media.

Mammadov highlighted that the agreement, which involves establishing Qatari franchises in Azerbaijan, represents a significant advancement in strengthening economic ties between the two nations.

Azerbaijan and Qatar have cultivated a strong economic partnership marked by significant investment and collaborative projects.

The energy sector stands as a cornerstone of their cooperation. Qatar, a key player in the global energy market, has shown a keen interest in Azerbaijan's oil and gas resources.

Investment flows between the two countries are diverse, spanning real estate, banking, and hospitality. Qatari investors have engaged in various infrastructure projects in Azerbaijan, including the development of hotels and commercial properties.

Trade relations have also flourished, with both nations benefiting from increased exchanges of goods and services. Azerbaijan exports oil, gas, and agricultural products to Qatar, while Qatar supplies machinery, electronics, and construction materials to Azerbaijan.