Berlin: During the official visit of President of Azerbaijan Ilham Aliyev to Germany, the 'Joint Declaration on the Establishment and Activities of the Azerbaijan-Germany Business Council' was signed. This document marks the transition of economic relations between the two countries to a new institutional stage by establishing a systematic, continuous, and results-oriented dialogue mechanism between state institutions and the private sector. The Business Council will serve as a platform for expanding direct contacts between the business communities of the two countries and identifying new cooperation opportunities.
According to Azerbaijan State News Agency, the creation of the Council reflects Germany's growing interest in Azerbaijan's economic potential, investment opportunities, and its role in regional connectivity. The main objectives of the Business Council are to promote sustainable, innovative, and future-oriented economic ties; support the identification, development, and implementation of joint initiatives and investment opportunities; ensure the exchange of expertise, knowledge, and experience across sectors (including through working formats); and prepare recommendations aimed at improving the business and investment environment in both countries.
Economic cooperation between Azerbaijan and Germany has reached a qualitatively new stage in recent years. More than 200 enterprises backed by German investment operate in Azerbaijan across the industrial, agricultural, transport, construction, trade, and service sectors. To date, total direct investments from Germany to Azerbaijan have reached $937.5 million, with $53.4 million allocated to the oil and gas sector and $884.1 million to the non-oil and gas sector. During the same period, direct investments from Azerbaijan to Germany totaled $667.5 million.
In the first half of the current year (January-June), trade turnover between Azerbaijan and Germany stood at approximately $573 million. Over the six-month period, Azerbaijan exported goods worth $234.77 million to Germany, while imports from Germany to Azerbaijan amounted to $338.11 million. Last year, bilateral trade turnover between the two countries exceeded $1.376 billion.
The cooperation prospects between Azerbaijani and German companies are high. Azerbaijan's favorable investment climate, regional connectivity, and transport-logistics potential create new opportunities for collaboration in green energy, industry, and technology transfer. The signing of the Joint Declaration on the Establishment of the Azerbaijan-Germany Business Council during President Ilham Aliyev's official visit to Germany is one of the most important outcomes of this process. The new body will not only strengthen cooperation between the business communities of the two countries but will also contribute to a more systematic and institutional development of economic relations.
The establishment of the Azerbaijan-Germany Business Council holds special significance as it institutionalizes the economic dialogue between the two nations. The new platform will ensure regular meetings of business representatives, discussions on joint projects, preparation of investment initiatives, and the prompt resolution of issues faced by entrepreneurs. Thus, economic cooperation will move beyond sporadic business contacts and become a sustained, long-term mechanism.