Azerbaijan Economic Minister: Trade turnover between Azerbaijan and UAE rise 29%
Baku, December 20 (AZERTAC). “The trade turnover between Azerbaijan and the UAE rose 29% in nine months of 2012”, said Azerbaijan’s Economic Development Minister Shahin Mustafayev during the 4th meeting of Joint Commission on economic, commercial and technical cooperation between the United Arab Emirates and Azerbaijan held in Dubai.
The meeting focused on discussion of the existing potential for development of economic cooperation, economic and commercial links between the two countries.
According to Mustafayev, at present, the UAE`s 122 companies are operating in Azerbaijan and more than 20 documents were signed between the two sides.
“Azerbaijani companies are also successfully operating in the UAE. Thus, SOCAR TRADİNG S.A Company is building SOCAR Aurora Fujairah Terminal FZE oil production terminal in Dubai”, the minister highlighted.
“The trade turnover in 2011 made $300 mln and this figure increased by 29% in nine months of 2012. The UAE has invested $200 mln in Azerbaijan,” the minister added.
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