Azerbaijani deputy minister: Trade turnover with GCC countries rose by 28%

Economic relations between Azerbaijan and the member states of the Gulf Cooperation Council (GCC) are flourishing based on mutual interests, paving the way for more effective implementation of joint projects, Anar Akhundov, Deputy Minister of Economy of Azerbaijan said at the 2nd Azerbaijan-GCC Economic Forum in Baku, organized by the Azerbaijan Export and Investment Promotion Agency (AZPROMO) with the support of the Ministry of Economy, Report informs.

Akhundov highlighted the impressive 28% increase in trade turnover between Azerbaijan and GCC countries in January-August 2021 compared to the same period last year. "Notably, our exports have doubled during this period," he added.

The positive statistical trends extend beyond trade, with significant growth observed in mutual direct investments. "The expansion of our joint activities in the traditional energy sector and, in recent years, in the alternative energy field is gratifying," Akhundov remarked.

"Tourism ties between Azerbaijan and GCC countries have also witnessed rapid development in recent years. Azerbaijan's emergence as an attractive destination for GCC tourists and its recognition as a significant player in the region's tourism industry have fueled this growth. Efforts to develop tourism infrastructure and promote the sector have led to substantial progress in this area of mutual interest," the deputy minister said.

Akhundov emphasized that the increase in direct flights, simplification of visa procedures, and transition to visa-free regimes with some countries have contributed to the growing tourist influx. "The number of tourists visiting Azerbaijan from several GCC countries has increased significantly, by more than 50%," he noted.