UAE and Azerbaijan Strengthen Financial and Climate Cooperation

UAE, 25 December, 2024 : H.E. Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, met with H.E. Samir Sharifov, Azerbaijan's Minister of Finance, in Dubai to discuss strengthening bilateral financial ties and advancing collaboration in climate finance. The meeting was attended by Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations.

H.E. Al Hussaini highlighted the strong relationship between the two nations and emphasized opportunities for deeper cooperation, particularly in sustainability and climate finance. He noted Azerbaijan's upcoming role as host of COP29 as a critical platform for advancing global climate efforts.

Discussions also focused on the progress of a Memorandum of Understanding (MoU) on financial cooperation signed in January 2024, covering areas like budget management, financial IT applications, and public debt management.

H.E. Sharifov expressed Azerbaijan’s commitment to strengthening ties, praising the robust collaboration between the two countries. Existing agreements include a double taxation avoidance treaty and an investment protection agreement, both effective since 2007.