UAE Embassy Hosts Reception Marking UAE-Azerbaijan Business Council

The UAE Embassy in Azerbaijan has held a reception marking the UAE-Azerbaijan Business Council 2018.

BAKU, (UrduPoint / Pakistan Point News / WAM - 15th Nov, 2018) The UAE Embassy in Azerbaijan has held a reception marking the UAE-Azerbaijan Business Council 2018.

The function was attended by Mohammed Al Qubaisi, UAE Ambassador to Azerbaijan, Rufat Mammadov, Azerbaijani Deputy Minister of Economy, who was the guest of honour, and representatives of the Ministry of Economy of Azerbaijan, the Export and Investment Promotion Foundation, as well as business representatives from both countries.

Al Qubaisi welcomed the participants while noting that since the council’s establishment in May 2017, the number of members increased from nine to 34. In March 2017, there were only two Emirati companies, Flydubai and Air Arabia, that ran direct flights between both countries, but now there are three Emirati airlines, after the entry of Etihad Airways, he added.

He also pointed out that in 2016, the value of non-oil exports from the UAE to Azerbaijan reached US$49.6 million while in 2017, this figure increased to $60 million. In 2016, the value of non-oil imports to the UAE from Azerbaijan reached $2.9 million, and in 2017 this figure went up to $5.4 million, he further added.

Al Qubaisi said the council aims to develop bilateral trade relations, through implementing joint ventures, removing obstacles, and opening direct communication channels, to develop and facilitate commerce and business.

In his speech, Mammadov expressed his appreciation for Al Qubaisi’s initiative to host the council while adding that the council is currently witnessing an increase in its number of partners, which highlights the success.