Azerbaijan, Saudi Arabia aim to enhance economic collaboration

A meeting was held between Azerbaijan's Economy Minister Mikail Jabbarov and a delegation led by the Chairman of the Federation of Saudi Chambers Hassan bin Moejeb Al-Huwaizi, focusing on the enhancement of economic cooperation between the two nations.

During the discussions, the successful progression of economic relations between Azerbaijan and Saudi Arabia was acknowledged, Caliber.Az reports.

The minister highlighted the favourable investment climate in Azerbaijan, pointing out the significance of the renewable energy project undertaken by the Saudi company “ACWA Power.”

The meeting also emphasized the role of the Azerbaijan-Saudi Arabia Joint Business Council as an effective platform for expanding investment cooperation and boosting bilateral trade.

The two sides recognized the need for deeper collaboration to diversify their economies and promote sustainable development.

Key topics included the promotion of bilateral investments and trade relations, the establishment of joint ventures, and the potential involvement of Saudi investors as residents in Azerbaijan's industrial parks.

By Tamilla Hasanova