BAKU, Azerbaijan, April 28. The 8th meeting of the joint commission on cooperation between the governments of Azerbaijan and Saudi Arabia in the fields of economy, trade, investment, technology, culture, sports, and youth was held in Riyadh, Trend reports via the Cabinet of Ministers of Azerbaijan.
The meeting was preceded by a bilateral discussion that took place between the co-chairs of the commission — Azerbaijan's Deputy Prime Minister Samir Sharifov and Saudi Arabian Minister of Investment Khalid bin Abdulaziz Al-Falih. During the talks, the sides discussed cooperation in the energy sector, the expansion of exports of Azerbaijan’s non-oil industrial products to Saudi Arabia, and the implementation of joint tourism projects.
At the 8th session of the joint commission, opportunities for expanding cooperation in the economy, trade, logistics, investment, and other priority areas were reviewed.
In his speech, Sharifov provided detailed information about the steps taken toward achieving the strategic goals set by the heads of state and the results obtained. He emphasized that developing relations with Saudi Arabia is one of Azerbaijan’s foreign policy priorities as defined by the President. Referring to cooperation in energy, green energy, and infrastructure projects, he noted that ACWA Power is currently constructing 240 MW wind power plants in the Absheron and Khizi districts. Additionally, ACWA Power, SOCAR, and Masdar (UAE) are jointly working on a 3.5 GW offshore wind power project in the Caspian Sea. This initiative is based on a tripartite memorandum of understanding signed within the framework of COP29, and it is expected to make a significant contribution to Azerbaijan's energy transition goals.
Regarding cooperation in the oil and gas sector, it was mentioned that negotiations between SOCAR and Saudi Aramco on expanding collaboration are successfully ongoing.
The meeting culminated with signing memoranda of understanding
in the following areas: mutual recognition of seafarers’
certificates, cooperation in plant protection and quarantine, as
well as cooperation in the field of small and medium-sized
enterprises (SMEs).
The deputy prime minister added that projects implemented under
Saudi Vision 2030 are being closely followed by Azerbaijani
investors, and investment opportunities are being actively
explored.
The number of tourists arriving in Azerbaijan from Saudi Arabia reached 98,113 in 2024, which is a 20 percent increase compared to 2023.
The Azerbaijan–Saudi Arabia Joint Business Council was established in 2022. The council, comprising business representatives from both countries, supports entrepreneurial initiatives, helps establish direct connections, organizes reciprocal visits and meetings, and facilitates information exchange.
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