Doha: The Qatar-Azerbaijan Joint Business Council has set in motion efforts to bolster bilateral trade and investment opportunities between the two nations. Dr. Mohammed Jawhar Al Mohammed, Chairman of the Qatari side at the Council, emphasized the commitment of both countries to enhance economic and trade cooperation. Despite the numerous cooperation agreements and MoUs signed, the trade volume reached only about QAR 10 million last year. However, there has been notable growth in economic relations, with successful cooperation in sectors such as agriculture, food security, energy, and tourism, alongside a growing interest from Qatari companies in the Azerbaijani market.
According to Qatar News Agency, Al Mohammed reiterated the Qatar Chamber's commitment to fostering partnerships between the private sectors in both countries, particularly in promising areas like trade, agriculture, energy, tourism, and food industries. The formation and activation of the Joint Business Council is seen as a crucial platform for business communication, encouraging the establishment of joint investment projects, and exploring new opportunities in various fields. He highlighted the Chamber's readiness to support business owners in establishing joint projects that contribute to economic development and sustainable growth, urging entrepreneurs from both nations to seize the opportunities and incentives available.
Orkhan Mammadov, Chairman of KOBIA and Head of the Azerbaijani side, stated that the Council meeting marks a significant step in enhancing Qatar-Azerbaijan economic relations. Both sides are eager to strengthen cooperation and partnerships in key sectors like agriculture, tourism, and technology. Mammadov noted that the Council will enable entrepreneurs to connect, explore potential joint projects, and promote the products and services of companies from both countries. The Azerbaijani delegation, comprising several investment entities and 30 companies, reflects the country's strong interest in expanding economic cooperation and establishing partnerships in the Qatari market.
Mammadov affirmed KOBIA's readiness to assist Qatari businessmen and investors interested in Azerbaijan, highlighting the country's economic advantages and investment incentives. During the meeting, both sides presented investment opportunities in their respective countries. Nasser Al Kaabi from Invest Qatar discussed Qatar's investment climate, while Aisha Al Mulla from Qatar Tourism provided insights into the nation's tourism sector. The Azerbaijani side showcased opportunities in the Alat Free Economic Zone, underscoring the potential for mutual economic growth.