Azerbaijan to sign Comprehensive Economic Partnership Agreement with UAE

Azerbaijan and the United Arab Emirates (UAE) will sign a Comprehensive Economic Partnership Agreement, Azerbaijani Economy Minister Mikayil Jabbarov said in an interview with CNN Business Arabic, Olaylar informs.

According to Jabbarov, negotiations on the agreement have already been completed: "We are waiting for the right time to sign this agreement. This agreement will have a positive impact on the increase in trade and mutual investment flows. The agreement will enter into force after ratification by the legislative bodies of both countries. I hope that the document will be in force by the end of 2025 or the beginning of 2026."

Jabbarov added that several projects have been identified where mutual opportunities exist between Azerbaijan and the UAE:

"We aim to expand cooperation on existing projects and launch new joint projects. Some of these projects will bear fruit already in 2028. For example, I would like to mention production at the massive Absheron gas field in the Azerbaijani sector of the Caspian Sea. By the end of 2028, production there will reach 5 billion cubic meters per year. We are very optimistic about this. As for sectors with broad opportunities for partnership, there are real opportunities to implement projects in the areas of trade, transport and logistics, artificial intelligence, data centers, real estate, finance, and digital banking."