2024-04-04 02:05:35
Prospects for the development of multi-vector cooperation between Azerbaijan and Iraq were discussed, Day.Az reported on Monday.
According to the Ministry of Economy of Azerbaijan, Prime Minister of the Republic of Iraq Mohammed Shia al-Sudani received a delegation headed by the Minister of Economy of the Republic of Azerbaijan Mikail Jabbarov.
It was noted that Iraq is interested in strengthening ties with Azerbaijan. The parties discussed partnership in the areas of trade, investment, tourism, transport, as well as in other areas that are significant for both countries. The meeting discussed the current state and priorities for the development of Azerbaijani-Iraqi economic relations. The importance of the growth of bilateral trade turnover and the increase in mutual investments was emphasized.
In addition, the delegation led by the Minister of Economy of Azerbaijan Mikail Jabbarov held a meeting with the Deputy Prime Minister and Minister of Oil of Iraq Hayyan Abdulgani.
The parties noted the presence of a favorable environment for expanding the multi-vector Azerbaijani-Iraqi partnership. It was emphasized that the energy sector occupies a significant place in the development of economic relations between countries, and opportunities for mutually beneficial cooperation in this area were noted.
The Azerbaijani delegation informed about the work done in the field of decarbonization and energy transition. It was noted that declaring 2024 in Azerbaijan as the “Year of Solidarity for a Green World” and holding COP29 in our country will contribute to the energy transition process.
Azerbaijan’s goals for the transition to green energy, projects in this direction implemented by SOCAR together with partners, as well as opportunities for cooperation on energy issues were discussed.
Also during the visit, the delegation led by the Minister of Economy of Azerbaijan Mikail Jabbarov met with the Minister of Trade of Iraq Ather Dawood al-Ghurari.
During the meeting, the Iraqi side was informed about reforms in the field of sustainable economic development and improvement of the business environment in Azerbaijan. There are 160 companies with Iraqi capital operating in various sectors of our country’s economy. It was noted that in 2023, the structure of exports from Azerbaijan to Iraq was dominated by non-oil and gas products, and the export potential for the Iraqi market and wide logistics opportunities were emphasized.
The parties noted the existence of favorable conditions for bringing trade relations between the two countries to a higher level. Interest in diversifying trade and economic relations and the importance of organizing mutual visits of business circles were noted.
Strengthening cooperation between business circles, joint activities on infrastructure projects, and holding an Azerbaijani-Iraqi business forum were discussed at the meeting. Iraqi entrepreneurs are invited to visit Azerbaijan to explore the business and export opportunities of our country.
Let us recall that according to the State Customs Committee of Azerbaijan, in January 2024, Azerbaijan exported goods worth $1.055 million to Iraq, and imported goods worth over $12.3 thousand.
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