ECONOMY
SAUDI ARABIA TO PARTICIPATE IN PROJECTS IN AZERBAIJAN
Saudi Arabia will participate in the projects implemented in Azerbaijan, President of the Saudi Arabian National Recruiting Committee Saad Nahar al- Baddah said August 13 in his meeting with Azerbaijan’s Minister for Economic Development Heydar Babayev.
The Azerbaijani Minister briefed the visitor on achievements of Azerbaijan thanks to the strategy of social-economic development founded by the nationwide leader Heydar Aliyev and successfully continued today by President Ilham Aliyev.
H. Babayev pointed out that the reforms in various areas of the economy are being carried out successfully. He stressed that the creation of favorable and equal environment in the country for foreign and local investors had caused a great interest towards Azerbaijan.
As result of this, 7,6 billion US dollars were invested into the country’s economy only in 2006, the minister underlined.
The sides also discussed questions on expansion of relations among the businessmen of the two countries, realization of joint projects, development of trade ties and etc.
The Azerbaijani minister said the development of non-oil sector is a priority in the country, inviting the Saudi Arabian businessmen to actively participate in the projects realized in Azerbaijan.
Saad Nahar al- Baddah, in turn, said the relations between the two countries base on general roots from religious and cultural point of view. He stressed the importance of further boosting of economic ties.
Deputy of Azerbaijan’s Minister of Labour and Social Protection of the Population Natig Mammadov and Saudi Arabian Ambassador in Azerbaijan Ali Hasan Ahmad Jaffar were present at the meeting.