During a visit to Qatar, a delegation from the Ministry of Economic Development, for the first time, put forward a proposal to establish a joint investment fund to finance projects in two and third countries.
The Ministry of Economic Development Press Service said that the idea was received with interest.
In particular, Qataris were invited to invest in the private sector and the development of industrial parks in Azerbaijan. They discussed issues of cooperation in infrastructure, tourism, agriculture, education, science and technology.
Mustafayev, the Minister of Economic Development, heads the delegation which includes representatives from the Fund to Promote Exports and Investments in Azerbaijan (AZPROMO), the state-run Azerbaijan Investment Company (AIC), and two newly created industrial parks (Sumgait chemical industrial park and the High-Tech Park).
The delegation was received by the Prime Minister and Foreign Minister of Qatar, Hamid bin Jassim bin Jaber Al Thani and members of the Government.
The Azerbaijani leadership has long courted Qatari sheikhs. Late last year, Hamid Al-Thani, accompanied by a large retinue of his court, shot game in the hunting estate Mahmudchala in the Salyan district of Azerbaijan for rare birds. It seems understanding between the leaderships is improving. In October 2012, at the request of official Baku, Vodafone Qatar canceled the roaming agreement with actions in the occupied territories of Azerbaijan Armenian Karabakh Telekom.
A foundation for close cooperation provides a general value approach within the parties. According to the report from the research firm The Economist Intelligence Unit (analytical division of the British magazine Economist) “Democracy Index of the world in 2012" (Democracy Index 2012), Qatar and Azerbaijan neighbors are on the list of authoritarian regimes. Azerbaijan is just one-step ahead of Qatar on the degree of authoritarianism. The countries are respectively No 139 and No 138 on the list. -0 -
Economics
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
-
At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
-
SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
-
The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
Leave a review