UAE, Azerbaijan review $1 billion in mutual investments, says minister

The United Arab Emirates aims to strengthen economic ties with Azerbaijan, especially in food and agriculture, UAE Minister of Climate Change and Environment Amna Al Dahak Al Shamsi said, highlighting ongoing discussions on joint investments estimated at $1 billion.

She noted that non-oil-and-gas trade between the two countries reached $2.4 billion in 2024, a 43% increase compared to the previous year, Caliber.Az reports via local media.

Al Shamsi emphasised that the strategic partnership between the two countries has reached a new level following the signing of CEPA — the Comprehensive Economic Partnership Agreement.

"We are also reviewing mutual investments between the UAE and Azerbaijan totalling around $1 billion. Our goal is to further expand these ties, particularly in the food and agriculture sectors," the minister said.

Highlighting Azerbaijan’s significant agricultural potential and the UAE’s strong agri-business companies, focused on high-tech and smart farming solutions, she emphasized the need for bilateral cooperation.

“UAE’s logistics capabilities can help access new markets through this cooperation. We expect these agreements to be transformed into concrete initiatives implemented by both sides,” she added.

Al Shamsi noted that the UAE is interested in collaboration across a wide range of areas, from early-season fruits and vegetables to meat and dairy production. 

"We are looking forward to turning these discussions into tangible initiatives in both countries. The UAE pays attention to many sectors, from greenhouse fruits and vegetables to meat and dairy products. We will prioritise areas of cooperation and implement partnerships with the right business partners. Bringing different business players from both countries to the same table was essential to initiate this dialogue and see it materialise soon," she concluded.

By Jeyhun Aghazada