ECONOMY


Saudi Arabia proposes setting up joint business council with Azerbaijan

Baku, March 4, AZERTAC

Saudi Arabia has proposed establishing a joint business council with Azerbaijan.

Governor of the General Investment Authority of Saudi Arabia, co-chair of Azerbaijan-Saudi Arabia Joint Intergovernmental Commission Ibrahim bin Abdul Rahman Al-Omar said the two countries should set up a council in order to address a number of issues with the aim of developing bilateral relations in a variety of areas.

He said Azerbaijani-Saudi trade is less than $20 million, adding that this falls well short of a development program between the two countries.

Abdul Rahman Al-Omar said Azerbaijan and Saudi Arabia should first of all develop business plans to revitalize previous memorandums, sign an agreement on mutual cooperation in the field of customs, build a platform for creating a favorable investment climate and establish a business council to identify the road map between the two countries.

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