Doha, November 24 (QNA) - HE Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry Dr. Ahmed bin Mohammed Al Sayed emphasized the vital role of the private sector in building and developing economic relations between the State of Qatar and the Republic of Azerbaijan.

This came during the Qatar-Azerbaijan Joint Business Council meeting, held Monday, with the participation of a number of senior officials and representatives of the public and private sectors from both countries.

His Excellency noted that the meeting reflects the belief of both sides in the importance of strengthening direct communication between businessmen in Qatar and Azerbaijan to open new horizons for trade and investment cooperation.

HE the Minister of State for Foreign Trade Affairs at the Ministry of Commerce and Industry indicated that economic relations between the two countries have witnessed remarkable growth over the past years, He pointed to the significant agreements signed between the two sides, which pave the way for the private sector to expand areas of cooperation, especially the economic, trade and technical cooperation agreement, the agreement on the promotion and protection of mutual investments, and the agreement on the avoidance of double taxation and the prevention of fiscal evasion.

He stressed that these agreements constitute basic pillars for facilitating business development and creating an attractive environment for investors.

HE Dr. Ahmed bin Mohammed Al Sayed also pointed out that the State of Qatar looks forward to raising economic relations with the Republic of Azerbaijan to broader levels of strategic cooperation, and intensifying efforts to diversify investment areas in a way that serves the common interests of the two countries.

Both sides emphasized the importance of the Business Council's role as an effective platform to enhance communication between the business communities of the two countries, and to support efforts aimed at expanding areas of economic and investment cooperation between the State of Qatar and the Republic of Azerbaijan.

The Qatar-Azerbaijan Joint Business Council meeting discussed the available cooperation opportunities between the Qatari and Azerbaijani business sectors in several economic sectors, as well as reviewing the investment climate and investment opportunities available for cooperation between companies from both sides. (QNA)