The ministers responsible for the economy from Azerbaijan and Saudi Arabia have recently engaged in strategic discussions aimed at broadening the scope of their trade connections. The Azerbaijani Minister of Economy, Mikayil Jabbarov, shared insights from this dialogue through a social media platform.
During their encounter at the Davos Economic Forum, Mikayil Jabbarov and his counterpart, Faisal Alibrahim, the Minister of Economy and Planning of Saudi Arabia, examined the current state and future prospects of the economic ties between their nations. Their dialogue centered on fortifying trade diversification and fostering reciprocal investment opportunities.
In terms of trade volume, data from the State Customs Committee of Azerbaijan reveals that the country’s exports to Saudi Arabia amounted to over $4.9 million, while imports from the Gulf nation exceeded $25.9 million in the year 2023.
This meeting underscores a concerted effort to deepen the economic partnership between Azerbaijan and Saudi Arabia, with both nations seeking to explore new avenues for collaboration and mutual growth.