Azerbaijan, Saudi Arabia discuss co-op within joint business council

Azerbaijan and Saudi Arabia have discussed cooperation within the joint business council, Azernews reports.

The discussion took place during a meeting between Azerbaijan’s Small and Medium Business Development Agency (SMBDA) Board Chairman Okrhan Mammadov and Azerbaijani-Saudi Arabia Joint Business Council Co-Chairman Ahmed Al Dahil.

The meeting focused on issues arising from the agreement signed between the SMBDA and the Federation of Saudi Chambers at the 7th meeting of the joint intergovernmental commission between Azerbaijan and Saudi Arabia.

The agreement in question was signed to establish a joint business council. The joint business council, which will include representatives of the business communities of both countries, will support the initiatives of entrepreneurs, promote the establishment of direct partnerships between businessmen, organize mutual visits, meetings, seminars, roundtables, and other events, as well as exchange information between the business circles.

Azerbaijan and Saudi Arabia are cooperating in different spheres of the economy, especially in renewable energy. In this context, the agreements on the 240 MW wind power plant project were signed between the Energy Ministry, the Azerenergy OJSC, and Saudi Arabia's ACWA Power on December 29, 2020. A groundbreaking ceremony for the plant to be built took place on January 13. The trade turnover between the two countries amounted to $27 million in 2021.