Economy

Baku hosted the 3rd meeting of Azerbaijan-UAE intergovernmental commission on economic cooperation

04-05-2011 | 16:16        

  

 

Baku hosted the 3rd meeting of Azerbaijan-UAE intergovernmental commission on economic cooperation on 3rd of may. The commission was co-chaired by Economic Development Minister Shahin Mustafayev from Azerbaijan and Economy Minister Saeed Al Mansoori from the United Arab Emirates. The delegation led by Economy Minister of the United Arab Emirates Saeed Al Mansoori visited the Alley of Honor to commemorate Great Leader Heydar Aliyev. Renowned ophthalmologist; Academician Zarifa Aliyeva’s memory was also honored. Further, the guests laid a wreath at the Eternal Fire memorial complex erected at the Alley of Martyrs in honor of those who died for the country’s independence. Prior to the meeting, while being introduced to the stands reflecting socio-economic development of regions the guest was informed about the works carried out in this direction. Minister of Economic Development Shahin Mustafayev in his speech gave coverage to the development of Azerbaijan’s economy and said that Azerbaijan attaches great importance to broadening of relations with foreign countries as well as with the UAE. Development of commercial relations is one of the essential directions of cooperation. Trade turnover between Azerbaijan and the UAE has grown by 36.8 percent in 2010 as compared to 2009 and 10 percent in the 1st quarter of 2011 in comparison with the relevant period of the last year. According to Sultan Saeed Al Mansoori, the UAE is interested in widening of collaboration with Azerbaijan and both countries possess good potential in this regard. In conclusion, the 2 countries signed an agreement on cooperation and mutual assistance between the governments and a protocol on outcomes of the meeting. Agreement on cooperation and mutual aid on customs sphere between the governments of both countries and protocol on outcomes of the meeting have been signed at the end of the meeting.