The Federation of Gulf Cooperation Council Chambers (FGCCC) is set to organize the 2nd Gulf-Azerbaijan Economic Forum in Baku on September 25-26, Report informs, citing FGCCC.
The event, themed "Sustainability, Investment, Partnership," aims to strengthen trade relations between the Gulf countries and Azerbaijan across various promising economic sectors.
The forum, supported by the Azerbaijan Ministry of Economy and the General Secretariat of the Gulf Cooperation Council, will be held in collaboration with the Azerbaijan Export and Investment Promotion Agency (AZPROMO). It seeks to showcase key investment opportunities and joint projects in fields such as food security, agriculture, renewable energy, logistics, and transportation, along with sectors that support the growth of trade and investment between the two parties.
FGCCC President Faisal bin Abdullah Al-Rawas emphasized the forum's significance in reflecting the importance of enhancing and developing trade ties between the Gulf countries and Azerbaijan, as well as increasing the trade volume. He revealed that the trade turnover between the two sides reached $1.8 billion in 2023, while Gulf countries' investments in the Azerbaijani economy amounted to approximately $7 billion.
The first Gulf-Azerbaijan Economic Forum was held in 2017, laying the foundation for the growing economic partnership. With Azerbaijan's promising economic potential, the upcoming forum is expected to further drive growth and open up new avenues for collaboration between the Gulf region and Azerbaijan.