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Azerbaijani Delegation headed by Economy Minister held meetings in Dubai. The investment opportunities of our country demonstrated

The delegation of Azerbaijan, who is on a visit to the United Arab Emirates (UAE), has visited the World Expo 2020 Dubai. 192 countries and 10 organizations are participating in the exhibition, which will last from October 1, 2021 to March 31, 2022. The Pavilion of Azerbaijan, organized by the Heydar Aliyev Center, represents our country at the Expo, and is important in terms of building new cooperative relationship and dialogue with potential business partners and investors. The visitors of the exhibition were curious of the Pavilion of Azerbaijan, which demonstrates achievements in such global areas as diversification of the Azerbaijani economy, investment in human capital, sustainable development and environmental protection. Dubai EXPO 2020 is a favorable platform for promoting our products and expanding access to foreign markets.

The Azerbaijani delegation also visited the pavilions of fraternal Turkey and the UAE at Dubai EXPO 2020 and provided insight into the achievements and work done to ensure its sustainability.

As part of the World Expo 2020 Dubai, the Azerbaijani delegation met with the CEO of DP World Group Sultan Ahmed Bin Sulayem. At the meeting, the Economy Minister Mikayil Jabbarov, who led the delegation, spoke of the transport, transit and industrial potential of Azerbaijan, stressing the possibilities for expanding cooperation with UAE companies in industrial zones and the Trans-Caspian transport corridor. Mr. Jabbarov noted that Azerbaijan enjoys a developed infrastructure for the operation of the Alat Free Economic Zone, and investments in this area provide additional opportunities for diversifying the country's economy and increasing trade.

The meeting highlighted the vast transit potential of Azerbaijan and the work done to turn Baku into a transit and logistics center of Eurasia.

Speaking about the activities of the business organization he represents and its experience in different countries, the CEO of DP World Group Sultan Ahmed Bin Sulayem expressed satisfaction with the cooperation with Azerbaijan, noting that the country's favorable geographical position and developed infrastructure offers welcoming environment to expand relations with DP World Group.

The sides discussed the provision of consulting services to the Alat Free Economic Zone by DP World Group, including the Baku International Sea Trade Port.

The meeting reached signature of a Memorandum of Understanding between the Azerbaijan Investment Holding and Dubai Logistics World. The MOU provides for Azerbaijan's joining the World Logistics Passport (WLP) initiative, announced by the UAE, to strengthen trade relations between Europe and Asia, and for direct access of our country’s international trading companies to the advantages of regional WLP centers and other issues.

The Azerbaijan Investment Forum was held as part of the visit of the Azerbaijani delegation to the United Arab Emirates headed by the Minister of Economy Mikayil Jabbarov. The event was attended by about 150 businessmen from two countries.

Speaking at the forum, Mr. Jabbarov made the participants aware of the measures taken in our country to achieve the Sustainable Development Goals, the support mechanisms used to protect economic stability, macroeconomic stability and jobs during a pandemic, underlining that the restoration of our territories, liberated as a result of the Great Victory in the Patriotic War, created new challenges and realities for the country's development priorities. The forum also noted that the reconstruction carried out in the Garabagh region increases the interest of businessmen to work in these territories. The Minister informed about the trends in the country's economic development, investment policy priorities, a favorable investment and business environment available in Azerbaijan, regional infrastructure projects, the possibilities of the Zangazur corridor, Alat Free Economic Zone and invited UAE businessmen to active cooperation.

 

At the investment forum, Chief Executive Officer of Dubai Investment Development Agency (Dubai FDI) Fahad Al Gergawi expressed satisfaction with the achievements of Azerbaijan, noting that this provides an effective basis for expanding the foreign economic activity of UAE businessmen. He further stressed that the Investment Forum has an important role to play in promoting mutual investments and establishing new business relations between entrepreneurs of the two countries.

The forum listened to speeches of Deputy Energy Minister Kamal Abbasov, Chairman of the Board of the Alat Free Economic Zone Valeh Alasgarov, Chief Executive Officer of the Azerbaijan Investment Holding Ruslan Alikhanov, Chairman of the Board of the Small and Medium Business Development Agency Orkhan Mammadov, and Head of the Azerbaijan Export and Investment Promotion Foundation Yusif Abdullayev, Executive Director of the Azerbaijan Investment Company OJSC Ulvi Mansurov, Executive Director of the Center for Analysis and Coordination of the Fourth Industrial Revolution Tamerlan Taghiyev, Chairman of the Board of the Agency for Development of Economic Zones Elshad Nuriyev and Chairman of the Board of the Garabagh Revival Foundation Rahman Hajiyev about business and investment opportunities in Azerbaijan. The event further presented investment projects to be implemented in Azerbaijan, and answered questions of investors.

A number of meetings were also held within the framework of the forum. During a meeting with Mohammad Abdullah Abunayyan, Board Chairman of ACWA Power, which specializes in water and energy projects, Minister of Economy Mikayil Jabbarov stressed that the goal is to turn Azerbaijan into a country with a clean environment and "green" energy, informing about the work done to efficiently use energy and create new sustainable energy sources. The meeting remarked availability of rich renewable energy resources in Azerbaijan, and an exchange of views took place on the construction of wind farms, water desalination and other issues.

The meeting held between the Azerbaijani delegation and the Chief Executive Officer of Masdar Mohamed Jameel Al Ramahi noted that diversification of energy production from renewable sources is one of the main goals, and cooperation with the company will contribute to the implementation of our priorities for sustainable and clean energy. The sides focused on issues of cooperation in the field of wind and solar energy, solid waste incineration, production of "green" hydrogen and other issues.