Minister: Azerbaijan, UAE in active talks on Comprehensive Economic Partnership Agreement

Azerbaijani Economy Minister Mikayil Jabbarov has said that Azerbaijan and the UAE are actively negotiating a Comprehensive Economic Partnership Agreement.

Jabbarov made this statement during an event dedicated to the UAE National Day, Caliber.Az reports via local media.

"The signing of this agreement will be a significant step in developing our economic and trade relations, deepening cooperation, particularly through trade liberalisation, increasing investment flows, and expanding access to goods and services markets," the minister emphasised. 

Jabbarov also reminded that during the visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan to Azerbaijan in January 2024, several key documents were signed, including a Memorandum of Understanding on Strategic Partnership.

Earlier, Jabbarov met with Sultan Ahmed Al Jaber, the UAE’s Minister of Industry and Advanced Technology, to explore cooperation in the energy sector.

During the meeting, both officials highlighted Azerbaijan's commitment to becoming a leader in environmental sustainability and green energy.

Jabbarov provided insights into ongoing projects aimed at optimising energy use and developing new sustainable energy sources.

The discussion also focused on joint initiatives between the State Oil Company of Azerbaijan Republic (SOCAR) and Emirati companies, including the Abu Dhabi National Oil Company (ADNOC) and Masdar. The ministers evaluated the current status of these projects and considered future prospects for their implementation.

By Naila Huseynova