AZERBAIJAN, UAE: INTERGOVERNMENTAL COMMISSIONS MEET IN BAKU
A meeting of the Azerbaijan and United Arab Emirates (UAE) intergovernmental commission on economic, trade and technical cooperation Monday was held in the Economic Development Ministry of Azerbaijan.
Heydar Babayev, Economic Development Minister of Azerbaijan said a lot of changes happened in Azerbaijan after the country regained its independence. He said as a result of the Armenia-Azerbaijan, Nagorno-Karabakh conflict 20 percent of the Azerbaijani territories was occupied and more than one million people became internally displaced persons. In spite of all these hardships thanks to the nationwide leader Heydar Aliyev’s efforts Azerbaijan became the region’s most powerful country.
Mr. Babayev stressed for per capita investment Azerbaijan ranks as one of the best places among the CIS countries. According to him, the country has economic cooperation with more than 140 world countries. He added that significant projects and state programs are being realized in the country due to huge oil revenues.
The Minister also spoke of the work done to develop industry, agriculture in the country, as well as activities of the Investment Company established to involve foreign companies in Azerbaijan’s economy. Mr. Babayev emphasized the necessity of drawing up a long-term cooperation strategy to develop economic relations between Azerbaijan and UAE.
UAE Minister of Foreign Trade Sheikha Lubna bint Khalid Al Qasimi said she witnessed great changes in Azerbaijan which are the result of the economic reforms carried out in the country. She stressed relations between the two countries would develop much more after the current visit to Azerbaijan.
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