Azerbaijan, UAE to outline steps to deepen cooperation

By Azernews

By Amina Nazarli

Azerbaijan and the United Arab Emirates (UAE) will outline further ways of developing the cooperation both in political and economic spheres during an official visit of UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan to Azerbaijan.

A diplomatic source told Trend that the visit is scheduled for May 21 in accordance with the preliminary agreements.

Bilateral relations between Azerbaijan and the UAE, especially their political component, are at a high level. The relationship between the two countries based on multilateral cooperation based on mutual interests.

The UAE is one of the most important partners of Azerbaijan in the Persian Gulf and Middle East region. At the same time, Azerbaijan is the most important partner of the Emirates in the Caucasus.

Both countries have similar positions on many international issues and are actively cooperate on a bilateral basis and within the framework of the OIC, the United Nations and other international organizations.

Some 223 UAE companies are currently operating in Azerbaijan. The trade turnover between the countries amounted to almost $58 million as of the end of the third quarter of 2016, with some $50 million falling to a share of import from the country. The figure is 24 percent higher as compared to the same period of 2015.

Recently, the two countries agreed to establish a joint investment fund to facilitate the implementation of joint investment in mutually beneficial projects.

UAE also supports the fair position of Azerbaijan in connection with the aggression of Armenia against Azerbaijan and the Armenian-Azerbaijani Nagorno-Karabakh conflict during the consideration in the OIC, the UN and other international organizations.

The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts.

The 1994 ceasefire agreement was followed by peace negotiations. Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding regions.