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Aliyev Seeks to Boost Saudi Ties

Arab News – 10/03/2005

RIYADH, 10 March 2005 – Azerbaijan’s President Ilham Aliyev, who
witnessed the signing of two bilateral economic agreements here
yesterday, called for intensifying efforts to boost political,
commercial and cultural relations with Saudi Arabia.

The call was made during his meeting with Saudi businessmen at the
Riyadh Chamber of Commerce and Industry (RCCI) following his talks
with Custodian of the Two Holy Mosques King Fahd, Crown Prince Abdullah
and a host of Saudi officials.

Aliyev said that “Baku is looking to Saudi Arabia to support its
regional interests politically and commercially”. He reiterated that
“the Kingdom is, in fact, supporting the Azeri position, at a time
when we have been wrestling with a geopolitical dilemma created
because of the conflict with Armenia”.

The Azeri leader witnessed the signing of an investment protection
agreement prior to his meeting at RCCI. Another agreement for SR67.5
million credit line facility granted by Saudi Fund for Development
(SFD) to Azerbaijan was also signed in the presence of the president.

On behalf of Saudi Arabia, the accords were inked by Finance Minister
Dr. Ibrahim Al-Assaf. Later, Aliyev participated in the RCCI meeting,
which was also attended by Minister of Commerce and Industry Dr. Hashim
Abdullah Yamani.

Azeri diplomat Naghi Jaabbarov said that “two credit agreements will
also be signed by the Islamic Development Bank (IDB) and Azerbaijan
on Thursday in Jeddah”.

IDB has agreed to grant $10.4 million credit facility for a road
construction project and another $10.1 million credit for a tunnel
project in that former Soviet republic. Referring to the progressively
growing Riyadh-Baku relations following the meeting of businessmen
at RCCI, Saad ibn Ibrahim Al-Mojel, RCCI’s vice chairman, said that
“the two sides are discussing as how to set up direct transportation
links between the two countries. There is neither a direct flight to
Baku nor a port in the Azeri capital, which are hampering our business
plans and relations”.

“President Aliyev has promised to look into the possibility of setting
set up direct air link to boost tourism and pilgrimage traffic”,
he said. Al-Mojel said that “there is a lot of potential to forge
closer relations in all sectors”.

He said that “the Armenian problem and the geopolitical dilemma with
which Azerbaijan is faced with will not discourage the Saudi leaders
and businessmen”.

Jaabbarov said that the funds will be used for building and expanding
infrastructure in that country.