Gulf countries’ investments in Azerbaijan hit $4 billion

Up to now, Gulf Cooperation Council (GCC) countries have invested 4 billion dollars into the Azerbaijani economy, Yusif Abdullayev, Executive Director of Azerbaijan’s Export and Investment Promotion Agency (AZPROMO), said on Thursday.

He made the remarks at the 2nd Azerbaijan-GCC Economic Forum in Baku, News.Az reports.

Abdullayev noted that the trade turnover between Azerbaijan and the GCC countries increased 2.5 times last year to stand at 175 million dollars.

“However, the potential has not been fully implemented. I believe that this forum will allow us to reconsider this perspective,” he added.

The forum featured discussions on cooperation in the renewable, clean energy, electricity and water fields with the Gulf countries, problems and opportunities in the transport and logistics sectors between GCC and Azerbaijan.

News.Az