BAKU, Azerbaijan, October 9. Prospects for trade and investment cooperation between Azerbaijan and Kuwait were discussed, Azerbaijan's Minister of Economy Mikayil Jabbarov wrote on his X page, Trend reports.
The discussion, which also included increasing trade turnover, promoting mutual investments, and strengthening dialogue between business circles, was held during the minister's meeting with Director General of the Kuwait Chamber of Commerce and Industry Rabah Abdulrahman Al-Rabah as a part of his working visit to the country.
Jabbarov further underscored the criticality of expanding the economic cooperation framework and enhancing synergies in the energy sector, industrial clusters, and collaborative production ventures.
Referring to figures, the primary items Kuwait shipped to Azerbaijan were acyclic alcohol derivatives (halogenated, sulphonated, and nitrated) ($197,000), industrial fatty acids, oils, and alcohols ($159,000), and clays ($957,000). Kuwaiti exports to Azerbaijan fell 29.5 percent annually from $1.28 million in 2018 to $223,000 in 2023. While Azerbaijan exported $1.21 million to Kuwait in 2023. The primary Azerbaijani exports to Kuwait were apples and pears ($553,000), refined petroleum ($212,000), and tea ($95,300). Azerbaijani exports to Kuwait rose 14.2 percent annually from $622,000 in 2018 to $1.21 million in 2023.
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