By Maksim Tsurkov – Trend:

Azerbaijan and the UAE can start cooperating in mutual investments, Minister of Economy of the United Arab Emirates, Sultan bin Saeed Al Mansoori, said at the fifth session of the Azerbaijan-UAE intergovernmental commission.

“A promising area of cooperation between our countries is the export of various goods,” he said. “Azerbaijan has rich experience in the development of agriculture, power engineering, development of alternative and renewable energy sources. That’s why, the exchange of experience in these areas is important. We also want to start cooperating in the field of mutual investments.”

He said that the trade turnover between the two countries in 2013 amounted to $565.9 million.

Azerbaijani Minister of Economy and Industry Shahin Mustafayev said that the issue of establishing the Baku-Abu Dhabi and Baku-Dubai Cooperation Committee, as well as a joint business council is being discussed.

“Azerbaijan and the UAE have very good political and economic relations,” he said. “The previous four meetings of the intergovernmental commission were very fruitful. The promising areas are the cooperation in the fields of power engineering, education, ICT, expansion of trade relations, the development of alternative energy sources, as well as in the field of investments.”

Mustafayev said that the two countries formed the necessary regulatory framework for the cooperation development.

The final protocol on cooperation is expected to be signed following the meeting.

edited by CN