The Qatar Chamber and the SMEs Business Development Agency of the Republic of Azerbaijan signed on Sunday a memorandum of understanding (MoU) to establish the Qatar-Azerbaijan Joint Business Council.
The MoU was signed during a meeting held at the Qatar Chamber’s headquarters in the presence of the Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov.
The MoU was signed by Qatar Chamber board member Eng. Ali Abdullatif Al-Misnad and Chairman of the SMEs Business Development Agency Orkhan Mammadov.
Speaking at the meeting held before the signing ceremony, the Minister of Economy of Azerbaijan Mikayil Jabbarov lauded the distinguished relations both countries enjoy, noting that Azerbaijan is eager to further develop its relations with Qatar in all fields, especially in energy and trade.
Jabbarov said that his country is rife with a multitude of investment opportunities that attract Qatari investors, calling on Qataris to get acquainted with and benefit from these opportunities.
On his part, QC board member Eng. Ali Abdullatif Al-Misnad stressed the importance of this agreement between both parties in enhancing economic and commercial cooperation between both countries, expanding cooperation between business communities, and exchanging mutual visits between representatives of the private sector in both countries, as well as supporting initiatives of business entities in the fields of the development of bilateral trade and economic cooperation.
Al-Misnad also assured the agreement’s importance in facilitating the establishment of economic and commercial partnerships and alliances between Qatari and Azerbaijani private sectors and exploring new areas of cooperation between them for the benefit of both economies.
The Qatar-Azerbaijan Joint Business Council aims to assist in setting up direct partnership links between business entities of both countries, including SMEs, assist in organising visits, meetings, seminars, and round tables, participating of businesses in exhibitions and fairs held in both countries, and assist in exchanging and disseminating commercial, trade and economic information that could be helpful in economic relations between Qatar and Azerbaijan.
It also aims to support the setting up of joint ventures and other forms of mutually beneficial cooperation.