BAKU: The second Gulf-Azerbaijani Economic Forum, which began its work in Baku with the participation of the Oman Chamber of Commerce and Industry, is exploring new horizons for economic and investment cooperation between the GCC countries and the Republic of Azerbaijan.

His Excellency Faisal bin Abdullah Al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry and Chairman of the Federation of Chambers of the GCC, emphasized the importance of collaborative economic visions. “The economic visions and integration programs of the GCC countries focus on developing the private sector and stimulating investment in promising opportunities. This has significantly contributed to pushing Gulf products into approximately 195 global markets, including the Azerbaijani market,” he stated.

In a bid to further strengthen ties, a joint action plan has been adopted between the GCC countries and Azerbaijan for the period of 2024-2028. His Excellency the Assistant Secretary-General for Economic and Development Affairs at the General Secretariat of the Cooperation Council for the Arab States of the Gulf remarked, “This plan aims to focus on a number of areas that enhance the prospects of strategic relations between the two sides.”

His Excellency the Deputy Minister of Economy of Azerbaijan highlighted the significance of the forum, saying, “Azerbaijan has strong relations with the Gulf Cooperation Council countries, which will enhance joint economic and investment cooperation and develop economic relations that will raise the rates of trade exchange between the two sides.”

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