UAE and Azerbaijan Strengthen Financial Ties for Sustainable Future

UAE's Finance Minister, Mohamed Hadi Al Hussaini, met with Azerbaijan's Samir Sharifov in Dubai to enhance financial sector cooperation. The discussions affirmed strong bilateral relations, focusing on climate finance and collaboration opportunities ahead of COP29. Key agreements in public budget management and investment protection were also reviewed.

In Dubai, a pivotal meeting took place between UAE's Minister of State for Financial Affairs, Mohamed Hadi Al Hussaini, and Azerbaijan's Minister of Finance, Samir Sharifov. They discussed strategies to bolster cooperation in the financial sector, with both countries expressing commitment to strengthen economic ties.

Al Hussaini praised Azerbaijan for its support in climate finance and highlighted the importance of continued collaboration. He noted the strategic opportunity Baku's hosting of COP29 poses in advancing global climate change initiatives, emphasizing the UAE's commitment to sustainability.

Significant progress was reported on joint ventures, including a memorandum of understanding on financial cooperation from January 2024. This has expanded collaboration in essential areas like public budget and debt management. The meeting reaffirmed the strong bilateral relationship, as evidenced by existing agreements on taxation and investment protection.

(With inputs from agencies.)