First meeting of Azeri-Saudi commission held

The first meeting of the Azeri-Saudi inter-governmental economic commission started at Hyatt Regency Hotel Tuesday. The meeting was co-chaired by the Saudi Minister for Trade Usam Bind Jafar al-Faghi and vice-president of the Azerbaijan government Yagub Ayyubov. Attending the meeting was the Saudi ambassador to Azerbaijan Ali Hasan Ahmad Jafar.

Mr. Ayyubov expressed his confidence that the commission would play a special role in developing bilateral trade, economic and scientific relations and called upon business people from the Kingdom to invest in the Azerbaijan economy and establish mutually beneficial cooperation.

He vowed on behalf of the government that all foreign partners would be provided with assistance. The vice-premier stressed the need for expanding bilateral turnover and thanked the Saudi party for the humanitarian aid.

Mr. al-Faghi voiced his regret over the poor level of trade relations, saying that mutual trade exhibitions and conferences on investment problems could identify the potential of both countries. He then suggested that sub-commissions be set up within the main commission to boost cooperation in trade, economics and investment.

The new sub-commissions are expected to discuss prospects of cooperation Wednesday.*