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BAKU, Azerbaijan, March 18. The prospects of
the development of multi-vector cooperation between Azerbaijan and
Iraq have been discussed, Trend reports.
According to the Ministry of Economy of Azerbaijan, Prime
Minister of the Republic of Iraq Mohammed Shia’ Al Sudani received
a delegation headed by Minister of Economy of the Republic of
Azerbaijan Mikayil Jabbarov.
Additionally, it was noted that Iraq is interested in
strengthening ties with Azerbaijan. The sides discussed partnership
in the spheres of trade, investment, tourism, and transportation,
as well as other areas of importance for both countries. The
current state and priorities for the development of
Azerbaijani-Iraqi economic ties were discussed at the meeting. The
importance of the growth of bilateral trade turnover and the
increase of mutual investments was emphasized.
Besides, the delegation headed by Azerbaijani Economy Minister
Mikayil Jabbarov met with Iraqi Deputy Prime Minister, Oil Minister
Hayan Abdul Ghani.
The sides noted the existence of a favorable environment for the
expansion of the multi-vector Azerbaijan-Iraq partnership. It was
emphasized that the energy sector occupies a significant place in
the development of economic ties between the countries, and
opportunities for mutually beneficial cooperation in this field
were underlined.
The Azerbaijani delegation was informed about the work done in
the fields of decarbonization and energy transition. It was noted
that declaring 2024 the “Year of Solidarity for a Green World” in
Azerbaijan and holding COP29 in our country will contribute to the
energy transition process.
Azerbaijan’s goals for the transition to green energy, projects
in this direction implemented by SOCAR together with its partners,
and opportunities for cooperation on energy issues were
discussed.
Also within the framework of the visit, the delegation headed by
Azerbaijani Economy Minister Mikayil Jabbarov met with Iraqi Trade
Minister Atheer Daoud Al-Ghurairi.
During the meeting, the Iraqi side was informed about reforms in
the field of sustainable economic development and the improvement
of Azerbaijan’s business environment. A total of 160 companies with
Iraqi capital operate in different spheres of our country’s
economy. It was noted that non-oil and gas products prevailed in
the structure of exports from Azerbaijan to Iraq in 2023; export
potential for the Iraqi market and wide logistic opportunities were
emphasized.
The sides acknowledged the existence of favorable conditions for
bringing trade relations between the two countries to a higher
level. Interest in the diversification of trade and economic
relations and the importance of organizing mutual visits among
business circles were noted.
At the meeting, the strengthening of cooperation between
business circles, joint activities on infrastructure projects, and
the organization of the Azerbaijani-Iraqi business forum were
discussed. Iraqi businessmen were invited to visit Azerbaijan to
study the business and export opportunities of our country.
To note, according to the data of the State Customs Committee of
Azerbaijan, in January 2024, Azerbaijan exported goods worth $1.055
million to Iraq and imported goods worth over $12,000 in January
2024.
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