Azerbaijan and U.S. unveil $8bn in deals at first economic dialogue

Azerbaijan and the United States have launched a new economic dialogue aimed at deepening trade, investment and business cooperation, as officials from both countries met in Baku on 2 June during Energy Week.

The first Azerbaijan–U.S. Economic Dialogue was held on 2 June and brought together government officials, international financial institutions and private sector representatives. The event was jointly organised by Azerbaijan's Ministry of Economy and the U.S. Department of State.

The meeting was co-chaired by Economy Minister Mikayil Jabbarov and U.S. Assistant Secretary of State for Economic, Energy and Business Affairs Caleb Orr. Discussions focused on strengthening economic ties under the framework of the U.S.-Azerbaijan Charter on Strategic Partnership.

Speaking at the event, Jabbarov said there was scope for broader cooperation in trade, logistics, energy and digital development. He highlighted the potential for joint projects and stronger business partnerships, adding that both sides were interested in pursuing practical initiatives that could benefit their economies.

Orr said the United States remained committed to expanding commercial and investment opportunities with Azerbaijan. He said the dialogue reflected a shared interest in strengthening economic relations and creating new opportunities for businesses in both countries.

Trade routes and regional connectivity

Participants examined opportunities in regional trade, transport links, energy security, investment, artificial intelligence and digital infrastructure.

Talks explored how Azerbaijan's position along key transport corridors, including the Middle Corridor and the Trans-Caspian route, could create new opportunities for international business and strengthen links between Europe and Central Asia. Participants also discussed the expansion of regional logistics networks and the benefits of greater connectivity for trade and investment.

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Energy security and critical minerals

Energy security was a major focus of the discussions. Officials and industry representatives considered future cooperation on gas supplies, electricity interconnections and energy production, including the development of the Southern Gas Corridor.

Participants discussed ways to diversify critical minerals supply chains and expand cooperation in mining, mineral processing and geological surveying.

During the event, Orr and Jabbarov signed a framework agreement on critical minerals cooperation. Orr described the deal as part of a broader effort to strengthen supply chains for strategic resources.

"I was pleased to sign a framework agreement with Azerbaijan and Mr Jabbarov on strengthening critical minerals supply chains," Orr said.

Technology cooperation and AI ambitions

Artificial intelligence and digital infrastructure featured prominently throughout the dialogue. Participants discussed opportunities for cooperation on data centres, cloud services, AI applications and digital technologies, while examining ways to encourage investment in the sector.

Officials also announced that Baku will host the world's second U.S. AI Week later this year, highlighting Azerbaijan's growing ambitions to position itself as a regional technology hub.

Jabbarov said Azerbaijan's goal was not only to adopt emerging technologies but also to build its own innovation ecosystem.

"We are targeting to be an advanced user of the technologies that emerge," he said, adding that Azerbaijan was working to develop cloud infrastructure, support innovative applications and create its own national large language model.

He pointed to a recently announced partnership involving the Ministry of Science and Education, the Ministry of Digital Development and Transport, and OpenAI as an example of practical cooperation in the sector.

Investment and business partnerships

Another session focused on attracting investment into transport, logistics, energy and technology projects. Azerbaijani officials presented opportunities in the Alat Free Economic Zone and outlined incentives designed to attract foreign investors.

Alongside the formal sessions, business representatives held meetings aimed at developing new partnerships and expanding private sector cooperation.

Several agreements related to digital infrastructure, technology transfer and industrial development were signed during the event in the presence of Jabbarov and Orr.

At a joint press briefing, Orr said commercial agreements announced during the visit exceeded $8 billion in value.

"In grand total, the commercial deals signed on this trip alone total over $8 billion," he said.

He also welcomed agreements signed between U.S. companies and Azerbaijan's state energy company SOCAR, describing them as evidence of growing economic partnership between the two countries.

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