UAE and Azerbaijan strengthen cooperation on sustainable development and climate finance

During a meeting in Dubai, Azerbaijan's Minister of Finance Samir Sharifov and UAE's Minister of State for Finance Mohamed Hadi Al Hussaini discussed ways to strengthen cooperation between the two countries in the financial sector.

According to Report, the UAE Ministry of Finance, in a statement posted on social media platform X, revealed that the meeting focused on expanding collaboration in several areas, including the implementation of the Memorandum of Understanding (MoU) on financial cooperation signed between the two nations in January 2024. The MoU has fostered cooperation in crucial areas such as public budget management, financial IT systems, and public debt management.

Arab media reports highlight the strong financial and economic ties between the UAE and Azerbaijan. Both sides reaffirmed their commitment to promoting cooperation in sustainability, climate finance, and economic development.

Al Hussaini expressed the UAE's pride in its robust relationship with Azerbaijan and the desire to deepen these ties to advance mutual interests, particularly in sustainable development and climate finance. He emphasized Azerbaijan's upcoming role as the host of the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change, viewing it as a crucial opportunity to accelerate global efforts in combating climate change.

Sharifov praised the relations between the UAE and Azerbaijan, noting Baku's interest in exchanging expertise in the financial sector and strengthening cooperation on shared priorities.