Officials and ministers from the UAE government have affirmed that the signing of a comprehensive economic partnership agreement with Azerbaijan marks a significant advancement in the nation’s efforts to establish a robust network of economic and trade partners. Azerbaijan’s strategic importance, owing to its unique geographical location connecting Europe and Asia, positions it as a crucial hub for international trade, serving as a key gateway for maritime transport and energy transit.
The dignitaries emphasized Azerbaijan’s strong economy, bolstered by substantial oil and gas reserves, alongside its rich natural resources that provide a solid foundation for economic growth. Moreover, the country has developed a legal and regulatory environment that promotes investment opportunities.
His Excellency Mohammad bin Hadi Al Hussaini, Minister of State for Financial Affairs, stated that the comprehensive economic partnership agreement between the UAE and Azerbaijan is the latest in a series of agreements contributing to the stability and investment appeal of the UAE economy. He noted that with nine existing comprehensive economic partnership agreements, the UAE achieved a record non-oil trade value of 2.997 trillion dirhams in 2024, reflecting a 14.6% increase compared to the previous year. The UAE aims to further enhance growth and economic diversification through stronger relationships with primary global partners and markets.
His Excellency Suhail Mohamed Faris Al Mazrouei, Minister of Energy and Infrastructure, emphasized that the agreement signifies a vital new pathway for the energy sector, creating extensive opportunities for investment, collaboration, and innovation as efforts to support energy transition across the Middle East, Asia, and Europe continue. He mentioned: “Azerbaijan has immense potential in renewable energy, especially in wind, solar, and hydro energy. Our capabilities and resources can help Azerbaijan fully exploit these opportunities, while also enhancing private sector collaboration and encouraging knowledge transfer.” He expressed a desire to collaboratively explore and capitalize on available opportunities.
His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, highlighted that the agreement aligns with the leadership’s vision to enhance communication and cooperation with the global community and establish quality partnerships that contribute to economic advancement. He further asserted that this agreement represents an additional step towards fulfilling the objectives of the UAE’s national strategy for industry and advanced technology, supporting Emirati industrial exports to new markets and fostering joint ventures and knowledge exchange between both nations.
He indicated that the agreement opens new horizons for collaboration in key sectors such as petrochemicals, food production, and automotive parts.
His Excellency Abdullah bin Touq Al Marri, Minister of Economy, remarked that the comprehensive economic partnership agreement supports strategic plans aimed at boosting the UAE’s economic growth by stimulating trade flows, reducing tariffs, and providing a solid foundation for Emirati firms to access regional markets in Eurasia. Additionally, Azerbaijani companies will benefit from the UAE’s position as a gateway to major markets in Africa, Asia, and Europe, which will enhance bilateral goods flow and support the added-value manufacturing and logistics sectors.
He added: “As we pursue the objectives outlined in the UAE Centennial 2071, this agreement will enhance economic cooperation and support efforts towards achieving sustainable long-term growth.”
His Excellency Mohammed Hassan Suwaidi, Minister of Investment, stated that the comprehensive economic partnership agreement opens another vital avenue for the UAE’s investment community. He noted: “We have already committed to total investment flows of one billion dollars in promising opportunities in Azerbaijan, making the UAE the leading Arab investor in the country. The agreement will encourage further capital inflows and collaboration in sectors such as logistics, manufacturing, energy, and transport. We also aim to encourage Azerbaijani projects to access the vibrant UAE market and benefit from its global connectivity, innovation support, and highly qualified multilingual workforce. We look forward to identifying all available opportunities in each other’s markets to support our growth objectives.”
Her Excellency Dr. Amina bint Abdullah Al-Dahhak, Minister of Climate Change and Environment, remarked that the UAE and Azerbaijan share a clear commitment to sustainability and environmental initiatives. Hosting the COP conference, alongside COP 28 in Dubai and COP 29 in Baku, has enabled the building of significant partnerships around climate change issues, culminating in support for a ceasefire call at COP 29, among other announcements.
She further said: “Through this agreement, we can collaborate with Azerbaijan on bilateral and regional environmental projects that enhance biodiversity, promote sustainable agriculture, and develop renewable energy technologies while addressing shared challenges such as food security and climate resilience. The agreement supports innovative solutions that enhance environmental sustainability, playing a crucial role in the long-term environmental health and economic well-being of our countries.”
His Excellency Dr. Thani Ahmed Al Zeyoudi, Minister of Foreign Trade, noted that Azerbaijan serves as an important trading and investment partner for the UAE. Its location in the Caucasus, a region of growing significance, at the crossroads of trade between Eastern Europe and Western Asia, has resulted in a GDP growth rate of 4.1% in 2024, with its non-oil sector growing by 6.3%. This growth also reflects in our bilateral non-oil trade, which grew by 36.2% last year to reach 2.24 billion dollars, accounting for 50% of Azerbaijan’s trade with Gulf Cooperation Council countries.
He expressed that the signing of the comprehensive economic partnership agreement between the two friendly nations is a qualitative step that promises to accelerate this growth, opening wide horizons for further opportunities, particularly in sectors like manufacturing, automotive, agriculture, and logistics and finance. He added: “Trade is central to our economic agenda, and agreements with countries with ambitious future visions like Azerbaijan support our path to achieving desired growth and prosperity.”
His Excellency Ahmed Ali Mohammed Al Saidi, Minister of State for Foreign Affairs, stated that the UAE and Azerbaijan have maintained strong diplomatic relations since 1992, and the comprehensive economic partnership agreement reflects our aspirations to enhance our international cooperation based on a shared vision for sustainable growth. By signing this agreement, we can build strategic alliances that bolster our common interests and enhance our positions in regional and global dialogues. This partnership also supports our foreign policy objectives, enabling us to align with other countries on issues like climate action and economic sustainability. Moreover, the comprehensive economic partnership agreement will strengthen our collective ability to respond to global challenges and reinforce our commitment to shared prosperity and collaborative opportunities in multilateral frameworks.
His Excellency Khalid Mohammed Balama, Governor of the Central Bank of the UAE, affirmed that the comprehensive economic partnership agreement between the UAE and Azerbaijan embodies the leadership’s vision of strengthening developmental partnerships and enhancing international cooperation to achieve common interests. It also reflects the country’s efforts to elevate economic growth, accelerate foreign investment flows, expand the reach of Emirati exports in global markets, diversify opportunities for private sector advancement, and solidify its status as a global trading and financial hub.
He added: “The agreement provides promising opportunities to deepen collaboration between the UAE and Azerbaijan in all sectors and establish joint ventures that support economic objectives. It also offers a wide scope for enhancing regional and global financial and monetary stability, developing financial service collaboration opportunities, strengthening partnerships in finance and banking, and fostering innovative projects in the financial technology sector and cross-border payment systems. We are prepared to support this partnership through our integrated financial system and our experience in supervisory, regulatory, financial technology, and payment systems, contributing to sustained economic growth and financial stability in both countries.”
His Excellency Ahmed Abdullah bin Lahij Al-Falasi, Acting General Director of Customs and Ports Security at the Federal Authority for Identity and Citizenship, stated: “As the largest trade partner of Azerbaijan in the Arab world, the UAE represents a significant gateway to African and Asian markets for its key exports such as fruits, vegetables, plastics, automobiles, auto parts, and gemstones. The comprehensive economic partnership agreement will strengthen our growing trade relations by removing barriers to trade and enhancing market access. It will also streamline customs procedures at our borders, facilitating faster trade flows and improving supply chain efficiency. We look forward to full collaboration with our Azerbaijani counterparts to maximize the benefits of this important agreement.”
His Excellency Abdullah Al-Busiti, Secretary-General of the Executive Council of Dubai, remarked: “The comprehensive economic partnership agreement between the UAE and Azerbaijan is a strategic step towards enhancing economic and trade cooperation between the two sides, opening new horizons in vital sectors such as innovation, tourism, and technology. This agreement supports national goals aimed at increasing the value of foreign direct investment, boosting external trade volume, and enhancing local demand for goods and services. The UAE is a global trade gateway and investment destination, and this partnership will enable initiatives that create quality job opportunities, attract global talents, and support sustainable economic development. Additionally, the agreement strengthens the country’s position as a global economic hub and contributes to achieving goals related to economic diversification and innovation, reflecting the ambitious vision of building a more prosperous and sustainable economic future.”