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Tuesday, November 21, 2006

UAE Sees Azerbaijan as Catalyst to Strengthen Export and Re-export of Arab Oil to Eastern Europe

21.11.2006 - Trend - by A.Mammadova - Signing the intergovernmental agreement in Abu Dhabi on economical, commercial and technical co-operation will strengthen the trade turnover between Azerbaijan and United Arab Emirates (UAE), the UAE Minister of Economy, Sheikha Lubna Al Qassimi, briefed the media in Abu Dhabi, Trend reports. Responding to the question “why did UAE select Azerbaijan for signing this agreement?”, Al Qassimi replied that “Firstly Azerbaijan is a Muslim country. In addition to its strategic location, Azerbaijan is an oil-producing country and may serve as catalyst to strengthen the export and re-export of the UAE oil to Eastern Europe”. Eleven bilateral documents were signed within the official visit to the UAE of the Azerbaijan President, Ilham Aliyev on 20-21 November.
Comments:
Azerbaijan actually needs to do more about it's industry. It's better if they diversify the oil and gas industry, otherwise the economic crisis may come. Look at the RFER article appearing at HULIQ.com at http://www.huliq.com/151/azerbaijan-coping-with-the-oil-windfall
 
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