On the first day of his official visit to the United Arab Emirates on 1 February, the Azerbaijani President Ilham Aliyev met with the Crown Prince of Abu Dhabi, Deputy Supreme Commander of the Armed Forces of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan in an expanded format.
They discussed issues of further expansion of cooperation in political, economic, trade, investment, tourism and other fields, the website of the Azerbaijani President.
Then Aliyev visited in Abu Dhabi the Sheikh Zayed Mosque Complex and the tomb of the first President of the UAE Sheikh Zayed bin Sultan Al Nahyan. The first day ended with familiarizing o the famous building "Burj Khalifa" in Dubai.
Aliyev's visit, to some extent, can be considered as a response. On April 2, 2015 the Vice-President and Prime Minister of the United Arab Emirates, Emir of Dubai, Sheikh Mohammed bin Rashid Al Maktoum officially visited Baku.
Cooperation between Azerbaijan and the United Arab Emirates is built on the basis of mutual benefit and activity notes. In 2011, to strengthen trade relations in Baku was established the first overseas office of Chamber of Commerce of the United Arab Emirates, she called the Baku-Dubai Chamber of Commerce. There is a joint intergovernmental commission on economic, trade and technical cooperation, the Baku-Dubai Cooperation Council, the Baku-Abu Dhabi Co-operation Council and the Business Council between Azerbaijan and the UAE.
On November 10, 2015, official Baku has simplified visa regime for the citizens of the United Arab Emirates.
Trade turnover between the two countries, according to the State Customs Committee of Azerbaijan, in January-September 2015 amounted to 46.78 million dollars with a surplus for the United Arab Emirates 42.2 million.
In the UAE, there are about three hundred of the business structures with the participation of the Azerbaijani capital. The most prominent player in the emirates is a subsidiary of the State Oil Company of Azerbaijan - SOCAR Trading. It has its oil terminal in the port of Fujairah with a capacity of 347,000 cubic meters. SOCAR wants to increase its capacity to 650 million cubic meters in the near future, stated the deputy head of the Department of Marketing & Economic Operations of the State Oil Company Maksoud Mahmudov on Monday during the Energy Forum of Azerbaijan-Indonesia in Baku.
This issue may be one of the most important in an undeclared agenda of Aliyev's visit, because in recent years SOCAR Trading i has advanced considerably as a trader of oil and gas from third countries. This is evidenced by statistics of SOCAR. At the end of 2014, total revenues of SOCAR amounted to 39 billion 674 million manats. Of these, the greatest part belongs to SOCAR Trading - 31 billion manats.
Emirates have always expressed readiness to extend the financial and economic presence in Azerbaijan. Under crisis that Azerbaijan has faced, and when Aliyev tends to shift the focus of his political policy for the development of non-oil business, the capital of the Middle East can only ever be advantageous. -0--
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