ECONOMY
Azerbaijan, Saudi Arabia discuss economic cooperation
Baku, December 11 (AZERTAC). Azerbaijani minister of economy and industry Shahin Mustafayev has met a Saudi Arabian delegation led by Governor of the General Investment Authority (SAGIA) Abdullatif bin Ahmed Al-Othman and SAGIA`s deputy director, Prince Saud Bin Khalid Al-Faisal.
According to the ministry, the discussions focused on economic cooperation between Azerbaijan and Saudi Arabia
Shahin Mustafayev said the Azerbaijan-Saudi Arabia relations were established by national leader Heydar Aliyev and Custodian of the two Holy Mosques King Fahd bin Abdulaziz Al Saud. He said the documents signed as part of Azerbaijani President Ilham Aliyev`s visit to Saudi Arabia in 2005 constitute a legal basis for cooperation between the two countries. The minister also hailed the role of the interparliamentary working group in expansion of bilateral bonds. He added the Saudi Fund for Development implements projects on Azerbaijan`s water supply and reconstruction of the country`s sewerage system.
Minister Mustafayev also underlined the role of the Joint Commission on economy, trade, investment, techniques, culture and sports in expansion of cooperation between Azerbaijan and Saudi Arabia.
In his turn, Abdullatif bin Ahmed Al-Othman stressed the importance of cooperation between Saudi Arabia and Azerbaijan.