Baku:The 8th meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation between Azerbaijan and the United Kingdom took place in Baku. It was co-chaired by Azerbaijan's Minister of Energy, Parviz Shahbazov, and the UK's Minister of State for Trade, Lord Anas Sarwar.
According to Azerbaijan State News Agency, the meeting focused on expanding cooperation in various sectors, including political dialogue, economy, trade, energy, transport, and digital infrastructure. The United Kingdom has been a major economic partner for Azerbaijan, with investments surpassing USD 39 billion. The bilateral trade turnover saw a significant increase of 67% last year, and in the first half of this year, it grew more than 5.5 times to USD 3.6 billion, largely due to a 24-fold increase in Azerbaijani exports to the UK.
The meeting also highlighted ongoing collaborations with bp, including projects like the Shah Deniz Compression and Shafag-Asiman. A 240 MW solar power plant, expected to be operational next year, and plans to decarbonize the Sangachal Terminal were also discussed. Minister Shahbazov briefed UK officials on Azerbaijan's green energy initiatives and encouraged British participation in projects such as the Caspian-Black Sea-Europe Green Energy Corridor, aiming for investment decisions by 2029. The involvement of the UK firm Xlinks was seen as enhancing prospects for joint collaborations.
A 14% increase in transit freight between the two countries in 2025 was discussed, emphasizing the need for British companies and UK Export Finance to engage more in infrastructure projects along the Middle Corridor. The meeting explored potential collaborations in artificial intelligence, cybersecurity, and human capital development, including joint educational programs with UK universities. The UK's support for Azerbaijan's mine clearance efforts was acknowledged, along with the development of ties in agriculture, education, and tourism.
Minister Shahbazov emphasized the importance of strengthening relations with the UK, a key trading partner. He highlighted the potential for elevating relations to a strategic partnership and translating agreements into projects. Lord Sarwar underscored the long-standing partnership between the UK and Azerbaijan, emphasizing collaboration in clean energy and AI connectivity to drive economic growth.
The meeting concluded with the signing of a Protocol and four cooperation documents covering green energy, transport connectivity, and urban mobility. These included a Memorandum of Understanding between Xlinks and the Green Corridor Alliance, a Roadmap between UKEF and Azerbaijan's Ministry of Digital Development and Transport, as well as agreements on transport and education. Participants adopted a 2026-2027 Action Plan with over 60 joint initiatives across 10 sectors.