The Ministry of Commerce and Industry stated in a press release that the meeting focused on improving trade and economic relations in light of the development of diplomatic and political ties between the two nations. It added that both parties emphasized the importance of attracting investments to boost trade relations, explaining that they discussed issues of mutual interest, including food security, climate change and other topics of shared concern.
It is noteworthy that Kuwait and Azerbaijan have several memoranda of understanding, including an agreement to avoid double taxation, a trade agreement, an agreement to establish a joint committee for cooperation, and an agreement on economic and technical cooperation. Kuwait’s total exports to Azerbaijan during 2024 (up to the third quarter of 2024) amounted to KD 122,946 (approximately $399,000), while Kuwait’s imports from Azerbaijan during the same period reached KD 287,744 (approximately $933,000).
