Expert: Co-op between Azerbaijan & Arab countries affects energy market

Azerbaijan’s cooperation with major oil and gas producers - Qatar, the UAE and Algeria in the energy sector enables them to make a great influence in international decisions related to energy markets, political consultant and researcher Basel Haj Jasem told Report.

“The relations between Azerbaijan and the Arab countries enjoy good relations. Not to mention the role of some active Azerbaijani diplomats who are appointed there and their active and important role in revitalizing political, economic and cultural relations,” he said.

Jasem highlighted relations with the UAE, noting that it also accounts for more than 70% of Azerbaijan’s trade with the Gulf countries.

The UAE is an important trading partner for Azerbaijan in many fields, not just the energy sector, he added.

“UAE investments in Azerbaijan over the past years amounted to more than $2.2 billion through projects in the sectors of energy, transportation, metallurgical industries, food and others.

On the other hand, Azerbaijan is investing more than $350 million in the UAE market in various fields, the most important of which is the real estate sector.”

“It is possible to benefit from the cooperation of Arab countries with Azerbaijan in international platforms by unifying opinions and positions. In addition to playing the role of international mediation in existing conflicts, easing tensions, or delivering aid to those affected by conflicts. These countries [Azerbaijan, Qatar, the UAE, Algeria] enjoy a good economic position that enables them to play a major political role at the international level,” he said.