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.
The United States and Israel have carried out large-scale strikes on Iranian leadership and military targets, with Iranian state media confirming t...
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting reta...
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the cle...
Protests broke out in Pakistan and Iraq on Sunday after Iranian state media confirmed that Supreme Leader Ayatollah Ali Khamenei had been killed in...
A number of senior Iranian figures have reportedly been killed in Saturday’s joint U.S.–Israeli airstrikes on Iran, according to Irania...
Azerbaijani President Ilham Aliyev on Monday discussed transport links, infrastructure projects and broader economic cooperation with a high-level Iranian delegation led by Roads and Urban Development Minister Farzaneh Sadegh.
Azerbaijan and the United States signalled closer economic ties on Monday (9 February) as President Ilham Aliyev hosted a delegation from the U.S. Chamber of Commerce, highlighting the country’s investment appeal and growing interest from American companies.
Azerbaijan said it's conducting due diligence ahead of a potential $250–270 million investment in Israeli desalination company IDE Technologies, according to reports. The state investment company, Azerbaijan Investment Holding (AIH), is reportedly exploring the purchase of a 30% stake in the firm.
Azerbaijan has begun exporting oil products to Armenia, with the first shipment delivered on 18 December 2025. It marked a notable milestone in the peace process and efforts to deepen economic cooperation between the two long-time rivals.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Governments across the region responded swiftly to Israel’s strikes on Iran, closing airspace, issuing travel advisories and activating contingency plans amid fears of escalation.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
A senior Iranian official has warned Israel to “prepare for what is coming”, insisting that Tehran’s response to the latest escalation in the Middle East will be made openly and without limits.
Ayatollah Ali Khamenei, Iran’s supreme leader for 36 years and the country’s highest political and religious authority, has died aged 86 following joint Israeli and U.S. strikes on his compound in Tehran.
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
Türkiye’s national energy company, TPAO, has struck a new cooperation deal with U.S. energy giant Chevron, signing a memorandum of understanding to explore joint oil and gas exploration and production opportunities, the Turkish Energy and Natural Resources Ministry announced on Thursday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment