UAE, Azerbaijan boost bilateral investments in 2024

The United Arab Emirates (UAE) has invested $356.3 million into Azerbaijan's economy from January through September 2024, marking a 5.2-fold increase compared to the same period last year. 

This surge in direct investments reflects a deepening of economic ties between the two nations, Caliber.Az reports via local media.

According to the Central Bank of Azerbaijan, the UAE's investments accounted for 7.9% of the total foreign investments flowing into Azerbaijan during the reported period, highlighting its growing role as a key economic partner for the country.

Meanwhile, Azerbaijan has also significantly increased its investments in the UAE, totalling $437.2 million over the first nine months of 2024—an impressive 5.4-fold growth from the previous year. Azerbaijan’s share of the UAE's total investment inflows during this period reached 31.2%, further emphasizing the strengthening of economic collaboration between the two countries.

By Khagan Isayev