Azerbaijan invests $350M in UAE

Azerbaijan has invested about $350 million in the UAE economy, Azerbaijani Minister of Economy Mikayil Jabbarov said.

Jabbarov made the remark at the fourth meeting of the Azerbaijan-UAE Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation in Baku, Trend reports on Nov. 12.

“Some $2.2 billion was invested in the Azerbaijani economy by the UAE, of which $900 million were invested in the non-oil sector,” the minister added. “Presently, 340 UAE companies operate in Azerbaijan.”

The fourth meeting of the Azerbaijan-UAE Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation is being held in Baku on Nov. 12.