President of Azerbaijan receives Saudi minister of investment

Baku, The Gulf Observer: President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by Minister of Investment of the Kingdom of Saudi Arabia, co-chairman of the Intergovernmental Joint Commission between the Republic of Azerbaijan and the Kingdom of Saudi Arabia Khalid Bin Abdulaziz Al-Falih.

Noting that relations between the Republic of Azerbaijan and the Kingdom of Saudi Arabia are at a high level, the sides emphasized that as a result of the efforts of both the President of Azerbaijan and the King of Saudi Arabia, as well as the Crown Prince of Saudi Arabia, the bilateral ties have been strengthened even further.

Recalling his previous meeting with Khalid Bin Abdulaziz Al-Falih, the head of state expressed confidence that a meeting of the Intergovernmental Joint Commission between the Republic of Azerbaijan and the Kingdom of Saudi Arabia will be successful. Saying that the agenda of the bilateral cooperation is expanding, President Ilham Aliyev stressed the importance of the Azerbaijan-Saudi Arabia business forum to be held tomorrow.

The head of state said that the high level of relations between the two countries in the political sphere creates a good basis for the development of bilateral ties, and stated that both sides show mutual interest in business cooperation, including the expansion of relations in the fields of investment and energy. In this regard, President Ilham Aliyev described the project of the construction of the Wind Power Station in Azerbaijan by the ACWA Power company of the Kingdom of Saudi Arabia as a useful example of cooperation. President Ilham Aliyev pointed out that Azerbaijan has great potential for the development of alternative energy, particularly wind energy.

The President of Azerbaijan hailed the planned visit of the delegation of the Kingdom of Saudi Arabia to the country`s liberated territories, their interest in the reconstruction works carried out there, and the desire of the business communities of the Kingdom of Saudi Arabia to invest in Azerbaijan.

Saying that it is honor for them to meet with President Ilham Aliyev, Khalid Bin Abdulaziz Al-Falih expressed his gratitude to the Azerbaijani President for his instructions and recommendations aimed at expanding cooperation.

Khalid Bin Abdulaziz Al-Falih conveyed the greetings of Custodian of the Two Holy Mosques, King of Saudi Arabia Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, and their congratulations on the occasion of the great successes achieved by the country in recent times to the head of state.

President Ilham Aliyev thanked for the greetings and congratulations, and asked the minister of investment to extend his greetings to the King and Crown Prince of Saudi Arabia.

Khalid Bin Abdulaziz Al-Falih expressed his gratitude to Azerbaijan for cooperation within the framework of OPEC+, and for the support for hosting a number of international events in Saudi Arabia. He noted that his country has always supported Azerbaijan’s rightful position on liberating its territories from occupation.

Khalid Bin Abdulaziz Al-Falih underlined that the great restoration and reconstruction works carried out in the liberated territories of Azerbaijan are still being followed with great joy in the Kingdom of Saudi Arabia. Noting that Saudi Arabia is a reliable partner of Azerbaijan, he said: “We are very happy and hope that your transition to peace through reconstruction and restoration will be successful.” The minister expressed hope that this will bring prosperity to the region.

Khalid Bin Abdulaziz Al-Falih noted the significance of marking the 30th anniversary of diplomatic ties between the two countries.

The Saudi Arabia minister touched upon the importance of the projects implemented by Azerbaijan in the field of energy security of the European Union, including the Agreement signed in Romania yesterday.

During the conversation, they emphasized the importance of further strengthening of economic cooperation, and discussed the participation of companies from the Kingdom of Saudi Arabia in renewable energy generation projects in Azerbaijan. It was noted that the Kingdom of Saudi Arabia is interested in investing in new projects in this direction, as well as in agriculture and other areas.

The sides exchanged views on the financing of projects in Azerbaijan by the Saudi Fund for Development and the Public Investment Fund.