BAKU, Azerbaijan, June 17. Azerbaijan’s
Minister of Economy Mikayil Jabbarov has visited Vienna, Austria,
to participate in the OPEC Fund for International Development
Forum, Trend
reports via the ministry.
A number of meetings were held within the framework of the
visit.
Jabbarov met with Mohamed Saif Al Suwaidi, Director General of
the Abu Dhabi Fund for Development of the United Arab Emirates
(UAE), which is part of the Arab Coordination Group.
The meeting emphasized the expansion of economic and trade
relations between Azerbaijan and the UAE.
The UAE’s capital infusion into Azerbaijan’s renewable energy
domain, alongside the fund’s backing for infrastructural
initiatives within our territory, was duly acknowledged. Data was
disseminated regarding the economic viability of our nation and the
conducive commercial landscape.
The stakeholders engaged in a comprehensive analysis of
collaborative dynamics pertaining to energy, infrastructure,
innovation, and ancillary domains.
The discourse encompassed the fund’s strategic investment avenues
within high-priority sectors of our nation.
During the meeting with Chairman of the Islamic Development Bank
Group Muhammad Sulaiman Al Jasser, it was noted that successful
cooperation with the institutions included in the group was carried
out.
An effective partnership with the Bank was noted in terms of
sustainable growth and infrastructure construction. Information was
provided on the economic reforms and priorities implemented in
Azerbaijan. Views were exchanged on the expansion of joint
activities, development in the private sector of our country,
holding the Annual Meeting of the Islamic Development Bank Group in
Azerbaijan in 2026, and other issues on the agenda.
During the meeting with the President of the OPEC Fund for
International Development Abdulhamid Alkhalifa, it was noted that
mutual relations contribute to the diversification of the energy
sector of our country.
Opportunities for cooperation in the fields of renewable energy,
infrastructure, and technical assistance were assessed.
Within the framework of the meeting, a Country Partnership
Framework Document was signed between the Ministry of Economy and
the OPEC Fund for International Development on areas of
cooperation.
The document, covering the years 2025-2030, envisages supporting
public and private sector projects in industry, renewable energy,
transport, infrastructure, and other areas. The initiatives to be
implemented within the framework of the document are important in
terms of climate financing and inclusive growth, as well as the
development of small and medium-sized enterprises.
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