"ACWA Power, another Saudi company owned by Saudi public and private assets, announced earlier in January the signing of an agreement with Azerbaijan’s Ministry of Energy for a big investment project. The recent agreement signed between ACWA Power and Azerbaijan’s Energy Ministry shows how effective the bilateral relations are, not only in political, but also in economic sphere. Saudi companies’ opening offices, or bringing up business and investments in Azerbaijan should be seen as another layer of cooperation that is needed in both countries’ bilateral cooperation. Azerbaijan could also attract other Gulf Cooperation Council (GCC) members to come and invest," said the expert.
"Saudi Aramco just opened a representational office in Baku. Aramco’s opening office in Baku should be seen as a strong step for future cooperation between one of the largest oil companies in the world and Azerbaijan’s state and private entities. Saudi Arabia seeks to continue build up its cooperation with countries worldwide in all spheres of economy as a producing and consuming country. Azerbaijan is an important oil and gas producing country and has a good strategic position for Saudi Arabia to expand its economic and trade activities," he concluded.
