Azerbaijan, Saudi Arabia to sign eight more agreements on economy

By Azernews

By Rasana Gasimova

Over the years, Azerbaijan and Saudi Arabia have been developing strong diplomatic, economic and cultural ties.

Presently, Azerbaijan and Saudi Arabia are working on signing new agreements on economic cooperation, Azerbaijani Minister of Finance Samir Sharifov told Trend on 23 September.  

“Currently, we have signed 20 agreements in various spheres of economy. We are working on signing eight new agreements,” Sahrifov said during the event dedicated to the Saudi National Day.

The Minister went on to say that Azerbaijan and Saudi Arabia enjoy strong brotherly relations, adding that Saudi Arabia became one of the first countries to recognize Azerbaijan’s independence on December 30, 1991.

He noted that the countries are also successfully cooperating within international organizations.

“Saudi Arabia supports Azerbaijan’s just position in the Nagorno-Karabakh conflict. Azerbaijan highly appreciates Saudi Arabia’s principled position on this matter,” the minister said.  

In his turn, Ambassador of Saudi Arabia to Azerbaijan, Hamad Abdullah Khudair said that Saudi Arabia attaches particular importance to the relations with Azerbaijan.

“Long-standing connections and mutual visits are the indicator of high-level bilateral ties. Relations between the two countries have developed significantly in various fields since the start of the year in the legislative sphere - delegation of the Azerbaijan-Saudi Arabia parliamentary friendship group has visited Baku; in the economic sphere - the fifth meeting of the Joint Committee, as well as a business forum held in Baku,” the ambassador said.

The Ambassador also mentioned that the energy ministers of the countries have made two mutual visits, during which agreements and memorandums of understanding were signed.

“These will serve for the development of both countries,” said Khudair.

Note that Azerbaijan and Saudi Arabia signed a protocol on expanding cooperation in economic and trade investments within the fifth meeting of the intergovernmental commission between Azerbaijan and Saudi Arabia held in Baku on March 4.

The document was signed by the Chairman of the Board of the Agency for the Development of Small and Medium-Sized Enterprises (SMEs) Orkhan Mammadov and Ayed bin Hadi Al Otaibi, deputy governor of the general authority for investment and investment development.

The protocol also provides for the expansion of cooperation in culture and sports.