BAKU, Azerbaijan, December 18. Azerbaijan's Minister of Economy Mikayil Jabbarov and his Omani counterpart Said bin Mohammed bin Ahmed Al Saqri discussed strengthening economic cooperation, the Minister's publication on X page said, Trend reports.
"During the meeting, we reviewed opportunities to further strengthen bilateral economic relations. We underscored the importance of enhancing the legal and contractual framework to promote joint activities, discussed prospects for establishing the Azerbaijan–Oman Joint Business Council, and explored avenues to expand collaboration in trade, renewable and traditional energy, investment, tourism, and other areas," the publication explained.
From January through November of this year, Azerbaijan's total trade volume with foreign countries reached $44.59 billion, reflecting an increase of $1.48 billion or 3.4% compared to the same period in the previous year.
Of this total foreign trade turnover, $23.4 billion was attributed to exports, while imports amounted to $21.19 billion. Notably, exports experienced a decline of $937 million (a 3.8% decrease), whereas imports saw a notable rise of $2.416 billion (a 12.9% increase).
Consequently, Azerbaijan's foreign trade balance yielded a positive surplus of $2.2 billion, though this figure represents a decline of $3.35 billion, or 2.5 times lower than the surplus recorded in the previous year.
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