UAE invested over $778m in Azerbaijan, says economy minister Mustafayev

Baku, May 10, AZERTAC

The United Arab Emirates (UAE) has invested $778.1 million in Azerbaijan’s economy, while Azerbaijan has invested $284.4 million in the economy of the UAE so far, said Azerbaijan's economy minister Shahin Mustafayev. “225 UAE companies have been registered in Azerbaijan.”

The minister said excellent political relations and reciprocal visits contribute to the development of the bilateral economic cooperation.

“About 40 documents have been signed between the two countries so far. Azerbaijan and the UAE have held six meetings of the intergovernmental commission, and the first foreign office of the Dubai Chamber of Commerce and Industry has been opened in Baku,” he said.

Mustafayev pointed out an export mission sent to the UAE in order to promote Azerbaijani products.

The minister also emphasized that the two countries maintain successful cooperation in the fields of agriculture, ICT, energy, trade, investment and education.

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