Azerbaijan and Saudi Arabia mull promotion of investments

Azerbaijan and Saudi Arabia discussed opportunities for promoting trade and investments, Report informs.

According to Azerbaijan's Ministry of Economy, the discussions were held during meetings organized as part of Minister Mikayil Jabbarov's visit to Saudi Arabia.

During Jabbarov's meeting with Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih, the sides emphasized the development of Azerbaijan-Saudi Arabia economic relations and the expansion of ties between business circles. They discussed opportunities for economic diversification, trade promotion, and investments in accordance with both countries' sustainable development goals.

During Jabbarov's meeting with Saudi Energy Minister, Prince Abdul Aziz bin Salman Al-Saud, the sides exchanged views on priority areas of the green energy agenda of both countries, successful results of joint activities in this field, and their benefits for both countries. They discussed opportunities for expanding cooperation on potential energy transition projects.

The meeting participants noted that increasing the efficiency of renewable energy and the share of alternative energy sources in the energy sector are important issues in Azerbaijan’s economic development strategy. It was emphasized that cooperation with Saudi Arabia in this regard is essential.