The Gulf-Azerbaijan Forum, organized by the Federation of the Gulf Cooperation Council (GCC) Chambers, in cooperation with the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), was held virtually, as the forum aimed to introduce the services and investment opportunities provided by both sides to the business sector in their countries, and to present future projects.
The Chairman of the Federation of GCC Chambers Sameer Nass stressed "the necessity of doing more joint work between the two sides, especially since the trade exchange figures between the GCC countries and the Republic of Azerbaijan are considered modest, reaching 83 million dollars in 2018, of which 55 million dollars are for Gulf exports, compared to 28 million dollars from Azerbaijan's exports."
Nass explained that “all GCC countries pursue long-term development visions to diversify their economies by relying more on the private sector, and giving it a greater role in implementing visions by creating partnerships and entrusting the implementation of large projects, privatization programs and generating new activities in which the private sector can invest in them".
The forum presented a package of proposals and recommendations, which included the need for the Gulf governments and Azerbaijan to support private sector initiatives in the field of food projects and technical industries, and to promote the movement of import and export, tourism and health, as well as strengthening the channels of dialogue and communication between the countries of the Gulf Cooperation Council and Azerbaijan to support cooperation in economic, trade and investment activities, and to hold an exhibition of Gulf and Azerbaijani products of various forms and types, to create a platform between Gulf business owners with their Azerbaijani counterparts.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
