The Federation of Saudi Chambers and the Small and Medium Business Development Agency in Azerbaijan signed the agreement in efforts to enhance intra-trade between the Kingdom and Azerbaijan.
The signing of the agreement coincides with the 17th session of the Saudi-Azerbaijani Joint Committee held in Baku, where the signing ceremony took place in the presence of the Minister of Investment Eng. Khaled Al-Falih.
This agreement reflects the keenness of the two countries and the business sectors to raise the volume of trade and investment exchanges.
The Joint Business Council will carry out many commercial and promotional activities in promoting and expanding Azerbaijani-Saudi trade and economic cooperation by focusing on the targeted sectors in the economic cooperation agenda in the two countries.
It will also provide a platform for Saudis and Azerbaijani businessmen to introduce and promote their activities and establish business partnerships.
The joint business council will be concerned with opening new qualitative areas for economic cooperation, while facilitating continuous interaction between the Saudi and Azerbaijani business sectors.
The council will work to address challenges and obstacles, as well as exchanging information on available markets and investment opportunities, and enabling trade and investment partnerships.
The establishment of the Saudi-Azerbaijan Business Council provides a valuable opportunity for Azerbaijani companies to deal with the Saudi market, which is one of the fastest-growing markets in the world.
