Azernews.Az

By Nigar Abbasova

Azerbaijan and Qatar consider creation of a joint investment fund.

The issue was high on agenda during a meeting between Azerbaijan’s Economy Minister Shahin Mustafayev and Qatari Ambassador to Baku Youssef Hassan Youssef Al Saai.

The minister gave an insight into perspectives of expanding the economic cooperation between Azerbaijan and Qatar.

He mentioned that a next meeting of Azerbaijan-Qatar Joint Economic, Trade and Technical Intergovernmental Commission will be organized in the short run. The first meeting of the joint commission was held on December 9.

Besides, the ministry will organize an export mission of local entrepreneurs to Qatar in February 11-14.

Speaking about advantageous investment climate in Azerbaijan, the minister invited Qatari businessmen to invest in the country and mentioned that Qatari entrepreneurs may also become residents of Sumgait Chemical Industrial Park.

Following the establishment of diplomatic relations in 1994, the key directions of cooperation between Azerbaijan and Qatar have been determined as ties in the field of investment, the exchange of experience in the field of oil and gas, and supply of the Azerbaijani agricultural goods to the Qatar market.

The energy industry is one of the most promising as the two countries are rich in their energy, oil and gas reserves.

Given the fact that Azerbaijan and Qatar has a simplified visa regime, close relations between the two countries in tourism sphere is also of utmost importance. The sides currently consider cooperation in civil aviation.

The volume of trade turnover between the states in January-November 2016 amounted to $ 129,550, while some $67,410 of the sum fell to a share of export to Qatar.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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