Baku, Azerbaijan, April 28. The 8th meeting of
the joint commission on cooperation between the governments of
Azerbaijan and Saudi Arabia in the fields of economy, trade,
investment, technology, culture, sports, and youth was held in
Riyadh, Trend
reports via the Cabinet of Ministers of Azerbaijan.
The meeting was preceded by a bilateral discussion that took
place between the co-chairs of the commission — Azerbaijan’s Deputy
Prime Minister Samir Sharifov and Saudi Arabian Minister of
Investment Khalid bin Abdulaziz Al-Falih. During the talks, the
sides discussed cooperation in the energy sector, the expansion of
exports of Azerbaijan’s non-oil industrial products to Saudi
Arabia, and the implementation of joint tourism projects.
At the 8th session of the joint commission, opportunities for
expanding cooperation in the economy, trade, logistics, investment,
and other priority areas were reviewed.
In his speech, Sharifov provided detailed information about the
steps taken toward achieving the strategic goals set by the heads
of state and the results obtained. He emphasized that developing
relations with Saudi Arabia is one of Azerbaijan’s foreign policy
priorities as defined by the President. Referring to cooperation in
energy, green energy, and infrastructure projects, he noted that
ACWA Power is currently constructing 240 MW wind power plants in
the Absheron and Khizi districts. Additionally, ACWA Power, SOCAR,
and Masdar (UAE) are jointly working on a 3.5 GW offshore wind
power project in the Caspian Sea. This initiative is based on a
tripartite memorandum of understanding signed within the framework
of COP29, and it is expected to make a significant contribution to
Azerbaijan’s energy transition goals.
Regarding cooperation in the oil and gas sector, it was
mentioned that negotiations between SOCAR and Saudi Aramco on
expanding collaboration are successfully ongoing.
The meeting culminated with signing memoranda of understanding
in the following areas: mutual recognition of seafarers’
certificates, cooperation in plant protection and quarantine, as
well as cooperation in the field of small and medium-sized
enterprises (SMEs).
The deputy prime minister added that projects implemented under
Saudi Vision 2030 are being closely followed by Azerbaijani
investors, and investment opportunities are being actively
explored.
The number of tourists arriving in Azerbaijan from Saudi Arabia
reached 98,113 in 2024, which is a 20 percent increase compared to
2023.
The Azerbaijan–Saudi Arabia Joint Business Council was
established in 2022. The council, comprising business
representatives from both countries, supports entrepreneurial
initiatives, helps establish direct connections, organizes
reciprocal visits and meetings, and facilitates information
exchange.
Stay up-to-date with more news on Trend News Agency’s
WhatsApp
channel