Latest news with #MikayilJabbarov
Sharjah 24
09-07-2025
- Business
- Sharjah 24
UAE, Azerbaijan Pres witness signing of economic partnership
His Highness Sheikh His Highness described the agreement as a significant milestone in UAE-Azerbaijan relations, underscoring the two nations' shared aspirations to build a resilient, knowledge-based, and innovation-driven economy that meets future demands. The agreement was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and His Excellency Mikayil Jabbarov, Minister of Economy of Azerbaijan. The agreement aims to boost investment flows and unlock opportunities in vital sectors, including renewable energy, tourism, logistics, and construction services. It is also expected to enhance private sector collaboration, strengthen supply chains, and empower entrepreneurs and small and medium enterprises to expand their operations globally. The UAE-Azerbaijan CEPA represents a significant addition to the UAE's global trade programme, building on years of close cooperation between the two nations, with bilateral non-oil trade increasing 43% year-on-year to reach USD 2.4 billion in 2024. The UAE is a key trading partner of Azerbaijan and also the leading Arab investor in Azerbaijan, with investments exceeding USD 1 billion. The CEPA programme is an important pillar of the UAE's foreign trade agenda, which aims to increase non-oil foreign trade to USD 1.1 trillion by 2031. In 2024, the programme contributed to the UAE's record non-oil trade of USD 816 billion, marking a 14.6% year-on-year increase. With 27 agreements concluded, the CEPA programme reflects the UAE's commitment to open, rules-based trade to drive economic growth and diversify its economy, expanding opportunities for UAE businesses by enhancing access to high-growth markets around the world that represent over a quarter of the world's population.
Express Tribune
05-07-2025
- Business
- Express Tribune
ECO agrees economic integration strategy
Deputy Prime Minister and Foreign Minister Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov sign the $2bn investment agreement in the presence of Prime Minister Shehbaz Sharif. Photo: Radio Pakistan A summit of seven west and central Asian leaders have agreed to liberalise trade, attract more foreign investment and build cooperation in green energy to strengthen regional economic integration. The Economic Cooperation Organization gathering also agreed to improve transport connectivity and restore post-conflict areas across the region as part of a long-term development strategy to 2035, the organisation announced. The summit, held under the theme "A New Vision for the ECO for a Sustainable and Climate-Resilient Future," was attended by Turkish President Tayyip Erdogan, Azerbaijani counterpart Ilham Aliyev, Uzbekistan's Shavkat Mirziyoyev, Iran's Masoud Pezeshkian, Kyrgyzstan's Sadyr Japarov, Tajikistan's Emomali Rahmon, and Prime Minister Shahbaz Sharif. The roadmap builds on ECO 2025, an earlier strategy emphasising regional integration, trade and transport. Azerbaijani presidential aide for foreign policy Hikmet Hajiyev told Reuters the ECO 2035 strategy expands its scope to include green energy cooperation, digitalization, and social inclusion. Hajiyev said Azerbaijan plans to establish a regional green energy centre and a combined transport-energy hub under the new framework, though investment figures have yet to be finalised. In an address, Aliyev highlighted Azerbaijan's emergence as a regional energy and investment hub, noting $350 billion had been invested in the country's economy in the past two decades. The meeting was held in the capital of the former breakaway Nagorno-Karabakh enclave. In 2023, Azerbaijan retook the whole of the enclave, where ethnic Armenians had enjoyed de facto independence for decades. Both Armenia and Azerbaijan have backed a peace treaty, but tensions between the two neighbours remain high.
Express Tribune
05-07-2025
- Business
- Express Tribune
Azerbaijan to invest $2b in Pakistan
Deputy Prime Minister and Foreign Minister Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov sign the $2bn investment agreement in the presence of Prime Minister Shehbaz Sharif. Photo: Radio Pakistan Pakistan and Azerbaijan in a major development Friday signed a partnership agreement of $2 billion investment in Pakistan. The agreement was reflective of the continuing flow of investment in Pakistan under the leadership of Prime Minister Shehbaz Sharif. In the presence of the prime minister, Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov signed the agreement for investment of a total of $2 billion by Azerbaijan in the economic sector of Pakistan. The Pakistani delegation was also present on this occasion. The agreement was signed between the two countries after a cordial meeting between the Prime Minister and the Azerbaijani President Ilham Aliyev in Khankandi. While the final and detailed agreement will be signed during the Azerbaijani President's visit to Pakistan. The agreement has taken investment and trade relations between the two countries to a historic level. This agreement will prove to be a milestone for further promotion of brotherly relations between the two countries and for strengthening of trade partnership. Both countries also agreed on further exchanges to promote cooperation in various sectors.
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Express Tribune
03-04-2025
- Business
- Express Tribune
Azeri president to visit Pakistan this month
Azeri President Ilham Aliyev is scheduled to visit Pakistan on April 26 or 27, according to reports. Express News reported that during the visit, it is expected that MoUs will be signed concerning investments in the M-6 and M-9 motorways, as well as in the petroleum sector. To finalize these agreements, Azerbaijan's Minister for Economy, Mikayil Jabbarov, will arrive in Islamabad on April 8. Sources maintained that this visit is seen as a key step towards enhancing economic cooperation between the two countries. Pakistan and Azerbaijan enjoy a long-standing bond of brotherhood, underpinned by shared values.
Bloomberg
17-03-2025
- Business
- Bloomberg
Israel, Azerbaijan Step Up Alliance With Gas Exploration Deal
Azerbaijan will on Monday sign agreements to explore for natural gas in Israeli waters, highlighting a key strategic alliance between the two countries amid turbulence in the region. A consortium of Azeri state company Socar, BP Plc and Israel's NewMed Energy LP will get the right to explore in one offshore block, in a signing overseen by Azerbaijan Economy Minister Mikayil Jabbarov and Israeli Energy Minister Eli Cohen, according to the Israeli energy ministry. The agreement gives Socar another foothold in important Israeli assets after the company bought a 10% stake in the Tamar gas field earlier this year.
