Riyadh roundtable sets stage for boosted Azerbaijan–Saudi Arabia economic cooperation PHOTO

Azerbaijan and Saudi Arabia have reaffirmed their commitment to enhancing bilateral economic cooperation, with officials from both nations convening in Riyadh to explore new avenues for investment and joint ventures across a range of sectors.

A high-level roundtable meeting was held in the Saudi capital on the margins of the 8th session of the Joint Intergovernmental Commission on Cooperation between Azerbaijan and Saudi Arabia. The event was co-organized by AZPROMO and the Saudi Investment Promotion Authority (SIPA), Caliber.Az reports citing local media.

Speaking at the forum, Saudi Arabia’s Minister of Investment and co-chair of the commission, Khalid bin Abdulaziz Al-Falih, underscored the strategic importance Riyadh places on strengthening ties with Baku. He highlighted the shared economic vision and longstanding cooperation that form the foundation of the partnership.

“Azerbaijan is a key partner for Saudi Arabia, and we are keen to expand our collaboration across various economic spheres,” Al-Falih stated.

Azerbaijani Deputy Prime Minister Samir Sharifov emphasized the roundtable's role as a catalyst for advancing business dialogue, attracting investment, and identifying joint project opportunities. “This event serves as a valuable platform to promote long-term business partnerships and deepen economic engagement between our countries,” he noted.

Participants at the forum included senior representatives from Azerbaijan’s Economic Zones Development Agency (IZIA), Azerbaijan Investment Holding, the Small and Medium Business Development Agency (KOBIA), and the Alat Free Economic Zone (AFEZ), in addition to private sector stakeholders.

These agencies delivered presentations showcasing Azerbaijan’s investment climate, available incentives, and government support mechanisms for foreign investors. The discussions covered key sectors including energy, logistics, manufacturing, agriculture, and digital technologies.

By Vafa Guliyeva