Azerbaijan’s Minister of Energy Parviz Shahbazov held a bilateral meeting with Gareth Thomas, the UK’s Parliamentary Under Secretary of State (Minister for Services, Small Businesses and Exports) at the Department for Business and Trade to discuss key issues on the bilateral cooperation.
Two ministers co-chaired the 7th Meeting of the Joint Intergovernmental Commission on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the United Kingdom of Great Britain and Northern Ireland took place in London.
Minister Shahbazov emphasized President Ilham Aliyev’s commitment to deepening ties with the United Kingdom, Azerbaijan’s primary trading partner. He highlighted the UK’s position as the largest foreign investor in Azerbaijan, with over $37 billion in investments.
More than 500 British companies currently operate in Azerbaijan across diverse sectors. A fourfold increase in bilateral trade turnover in the first quarter of this year reflects the dynamic growth of the partnership.
He also underlined the strategic cooperation with bp, which has invested more than $35 billion in Azerbaijan's oil and gas sector. This collaboration is expanding to include green energy initiatives, such as the soon-to-begin construction of the Shafag Solar Power Plant. This project exemplifies joint efforts in renewable energy and decarbonization.
Shahbazov also welcomed broader cooperation with UK companies and noted the £5 billion loan guarantee from UK Export Finance (UKEF) for priority projects in energy transition, transportation, and infrastructure.
The meeting gathered representatives from around 30 Azerbaijani government agencies. Discussions covered over 20 sectors, with presentations on development prospects and opportunities for cooperation in areas including:
Energy transition (renewables, grid development, emissions reduction, liberalization of the electricity market, offshore wind, solar, and hydrogen)
Financial and professional services
Technology and artificial intelligence
SME promotion, cybersecurity, education, science, and healthcare
Youth, culture, and sports
Additional areas of focus included infrastructure development via the Middle Corridor, mutual investment, textile industry collaboration, water and waste management, transport, aviation, digital construction, and demining.
The sides agreed to enhance cooperation on regulatory alignment, expand participation in industrial parks and economic zones (including the Alat Free Economic Zone), and facilitate exports and business environments in both countries.
The need to expedite the Partnership and Cooperation Agreement between Azerbaijan and the UK was also highlighted.
In his remarks, Minister Gareth Thomas stated: "Today’s deals with Azerbaijan will allow for an even closer working relationship between our two nations. Our Plan for Change to drive economic growth is at the heart of these agreements, boosting exports and services across the energy, infrastructure, and education sectors. Azerbaijan has long been a key partner for many UK industries, and these deals will solidify that partnership for years to come."
During the event:
- A Memorandum of Understanding was signed between UKEF and AZPROMO.
- A Protocol on the Outcomes of the 7th session of the Joint Intergovernmental Commission was signed.
It was agreed that the 8th meeting of the Commission will be held in Baku in 2026.
Ukrainian President Volodymyr Zelenskyy says Russia hit at least six energy targets in deadly strikes across Ukraine, showing Moscow is unwilling t...
Climate activist Greta Thunberg joined high school students protesting outside a school in the Paris suburb of Saint-Denis on Tuesday, as a wave of...
The feature film “44”, set against the backdrop of Azerbaijan’s 44-day war in 2020, premiered...
One person was killed and nearly a dozen hurt in a fresh attack on Riyadh's international airport on Sunday, Saudi authorities reported, a day after a strike claimed by Yemen's Houthis killed 13 people and wounded more than 300.
Yemen's Houthis renewed warning to airlines, airport workers, and travellers against using Saudi airports, saying the warning should be taken seriously and that the kingdom “bore responsibility for failed interceptions”, a day after an attack on Riyadh's international airport that killed 12 people.
The Saudi-led coalition in Yemen said late Monday that it intercepted and destroyed two ballistic missiles launched by the Houthi group toward Khamis Mushait in southwestern Saudi Arabia.
The Houthi movement has escalated their attacks on Saudi Arabia, targeting the airport in Riyadh and other cities, killing more than a dozen people.
The Kremlin on Monday rejected a 60-day ceasefire idea proposed by Ukrainian President Volodymyr Zelenskyy to allow his country to hold presidential elections, saying it wanted an overall peace deal instead.
Asian stocks plunged to their lowest level in more than two months on Tuesday as advances by Chinese chipmakers rattled investor confidence in the artificial intelligence boom, despite soaring global semiconductor sales.
Artificial intelligence investment is helping sustain global growth at around 3 per cent, with Asia poised to reap major benefits. But soaring energy costs, unequal investment and growing pressure on young workers threaten to leave some economies behind.
Uzbekistan and Russia have a portfolio of more than 200 joint projects worth almost $6 billion, as the two countries continue to expand regional and business ties. The projects were discussed during the third meeting of the Council of Regions of Russia and Uzbekistan, held in Fergana, Uzbekistan.
In the marshlands of Malluba in southern Azerbaijan, Kamil Mammadov follows a routine that has been passed down through generations. His family has worked with medicinal leeches for centuries, harvesting and breeding a species known as Hirudo orientalis, or the Caucasian medicinal leech.
Baku is hosting the second Azerbaijan International Investment Forum (AIIF 2026) and it’s attracting more interest this year, Azerbaijan’s Deputy Prime Minister told AnewZ. “The agenda is very impressive. More guests, more interest,” he said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment