UAE investments in Azerbaijan’s non-oil sector exceed $650M

The volume of direct investments by the UAE in the non-oil sector of Azerbaijan's economy is approximately $659 million, Head of Interstate Economic Cooperation Department of the country’s Economy Ministry Orkhan Mammadov said.

He made the remarks Oct. 20 at Azerbaijan-UAE business forum.

"Currently, 223 companies from the UAE operate in Azerbaijan, and the trade between our countries amounted to $58 million as of the end of the third quarter of 2016, which is 24 percent more than in the same period of 2015,” Mammadov said.