The second session of the Saudi-Azerbaijani Joint Commission for Economic, Commercial and Technical Cooperation began here on Saturday under co-chairmanship of the Saudi Minister of Commerce, Dr Hashim Yamani, and Azerbaijan’s First Deputy Premier, Yaqub Ayyoubov.
Addressing the inaugural session, Dr Yamani stressed the importance of boosting Saudi-Azerbaijani cooperation, pointing out the firm relations between the Kingdom of Saudi Arabia and Azerbaijan based on Islam and common historical ties.
Dr Yamani urged businessmen to work to enhance trade exchange between the two countries in a manner that realizes the aspirations of the Saudi and Azerbaijani people. He said that the Saudi-Azerbaijani Joint Commission urged the relevant authorities in the Kingdom and Azerbaijan to accelerate completion of the agreements of dual-taxation and encouragement and protection of investment projects, which will have a positive impact on bilateral economic relations.
The Commission emphasised the importance of joint efforts in the petroleum sector by establishing a joint team of experts. “The cultural centre due to be established by the Kingdom in Bako will be viewed as one of the achievements of the Joint Commission,” he added.
On his part, Ayyoubov urged Saudi businessmen to invest their capital in Azerbaijan, noting that the Azerbaijani government would remove all obstacles that might impede the path of foreign investment. He said that the volume of foreign investment in Azerbaijan had exceeded $16 billion.
The Joint Commission includes sub-committees for commercial and economic cooperation; cooperation in Islamic, cultural and sports affairs; technical cooperation, and businessmen.
Source: SPA
