Today.Az » Business » Saudi Arabia keen to establish broad trade and economic cooperation with Azerbaijan
17 July 2017 [13:17] - Today.Az
By Sara Israfilbayova
A large delegation from Saudi Arabia, which will include representatives of both, state structures and the private sector, plans to visit Azerbaijan in October.
Azerbaijan and Saudi Arabia enjoy successful cooperation in a number of areas and have fruitful bilateral cooperation within international organizations.
During the upcoming meeting of the intergovernmental commission on trade and economic cooperation between the two countries, Azerbaijan will offer Saudi Arabia a package of investment projects, covering the transport, agrarian, construction and ICT sectors, Trend reported.
National Airlines AZAL plans to open a direct flight from Azerbaijan to Saudi Arabia in September 2017. This will increase the number of tourists from Saudi Arabia to Azerbaijan.
Following the meeting of the intergovernmental commission, it is planned to sign a protocol in which such areas as agriculture, health, tourism, information and communication technologies, construction, social security, media and others will be identified.
Azerbaijan and Saudi Arabia enjoy comprehensive brotherhood relations. This relationship of mutual respect and sincere friendship strengthens the similar histories and common Islamic heritage.
Diplomatic relations between the Republic of Azerbaijan and Kingdom of Saudi Arabia was established on February 24, 1992. Saudi Arabia was one of the first countries to recognize the independence of Azerbaijan in 1991.
Over the past years, the economic relations with the increased interest in investment strengthened and expanded. Several companies of Saudi Arabia operate in various fields in Azerbaijan.
The trade turnover between Azerbaijan and Saudi Arabia for January-June of 2017 amounted to $6.05 million, increased by 25.9 percent, as compared to the same period of 2016, according to the State Customs Committee of Azerbaijan.