Azerbaijan's Deputy Economy Minister Participates in 41st COMCEC Session in Istanbul

Rovnag Abdullayev, Azerbaijan's Deputy Minister of Economy, attended the 41st session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (OIC) (COMCEC), held in Istanbul, Türkiye.

The event highlighted Azerbaijan’s attaching special importance to deepening multilateral cooperation and economic integration with the ECO member states, The Caspian Post reports citing local media.

Azerbaijan’s Deputy Minister provided information on measures undertaken in the country to diversify export markets and expand non-oil and gas exports, as well as projects that increase access to European and OIC markets.

He noted that the implementation of exchange programs for small and medium-sized business exporters, joint projects in industry, renewable energy, agriculture and other areas can contribute to further enhancing existing economic and trade relations.

Deputy Minister Rovnag Abdullayev briefed the event participants about the favourable business and investment climate formed in Azerbaijan, promising areas of cooperation, opportunities for industrial zones, as well as tax and customs benefits applied in the liberated territories, and other incentive mechanisms.

Gathered together heads of relevant state bodies of the member countries of the organization, the meeting featured exchanging of views on “the Implementation of the OIC-2025: Programme of Action,” World Economic Developments with Special Reference to the OIC Member Countries,” Intra-OIC Trade,” “Enhancing the Role of Private Sector in Economic Cooperation,” Deepening Financial Cooperation,” “Improving Transport and Communications,” “Developing a Sustainable and Competitive Tourism Sector,” Increasing Productivity of Agriculture Sector and Sustaining Food Security” and any other business.