ECONOMY


Minister: Saudi Arabia keen to deepen cooperation with Azerbaijan in all sectors of economy

Baku, March 19, AZERTAC

Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia Khalid Abdulaziz Al-Falih has expressed his country’s keenness to strengthen cooperation with Azerbaijan in all spheres of economy in his interview with AZERTAC’s correspondent.

Minister Khalid Abdulaziz Al-Falih noted that the relations between the Kingdom of Saudi Arabia and Azerbaijan have deep historical roots.

Noting that the high-ranking officials from Saudi Arabia have visited Azerbaijan during the past two weeks, Khalid Abdulaziz Al-Falih said these visits aim to strengthen bilateral ties between the Kingdom of Saudi Arabia and Azerbaijan. He mentioned that as part of the Saudi Arabian delegation’s visit, the meeting of the Azerbaijan-Saudi Arabia Joint Commission on Cooperation was held in Baku.

Minister Khalid Abdulaziz Al-Falih emphasized that during his visit to Azerbaijan he also met with President Ilham Aliyev and hailed the country’s constructive role in the OPEC+ format to address the stability of the oil markets. “I also expressed my country’s readiness to deepen economic cooperation with Azerbaijan not only in oil sphere but also in the field of mutual investments and export promotion.”

The minister also pointed to the memorandum of cooperation signed between the Saudi Arabia’s company and the Azerbaijan’s Energy Ministry.

In response to how can Azerbaijan benefit from the “Saudi Arabia’s Vision 2030” program, Khalid Abdulaziz Al-Falih mentioned that this program envisages diversification of the country's economy and the Kingdom of Saudi Arabia attaches particular attention to the development of industry, metallurgy, renewable energy, tourism and service areas.

Minister Khalid Abdulaziz Al-Falih stressed that Saudi Arabia is open to investments from all friendly countries, including Azerbaijan, adding that the government has created favorable conditions for investors in the country. “Azerbaijan and other Caspian littoral states can share their experiences with Saudi Arabia, as well as use Saudi Arabia as a platform to enter the regional and African markets,” the minister added.

 

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