Tokyo, 19 March, /AJMEDIA/
The prospects of the development of multi-vector cooperation between Azerbaijan and Iraq have been discussed, AJMEDIA 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.
