BAKU, Azerbaijan, October 6. Azerbaijan and the
United Kingdom signed a number of documents on October 6 as part of
the eighth meeting of the Joint Intergovernmental Commission on
Trade and Economic Cooperation in Baku, Trend's correspondent reports from the
event.
A protocol and four documents covering cooperation in green
energy, transport connectivity and urban mobility were signed
following the meeting.
The documents include a memorandum of understanding between
Xlinks and the Green Energy Corridor Alliance, a roadmap between UK
Export Finance (UKEF) and Azerbaijan's Ministry of Digital
Development and Transport, as well as cooperation documents with
British institutions and companies in transport, education and
other areas.
The sides also adopted an Action Plan for 2026-2027, comprising
more than 60 activities across 10 areas.
The meeting was co-chaired by Azerbaijani Energy Minister Parviz
Shahbazov and UK Minister of State for Trade at the Department for
Business and Trade Lord Anas Sarwar.
During the meeting, the sides discussed the current state and
prospects of Azerbaijan-UK relations, as well as opportunities to
expand cooperation in the economy and trade, energy, transport and
digital infrastructure, agriculture, humanitarian affairs and
healthcare.
It was noted that the UK has been one of Azerbaijan's major
economic partners for more than three decades. British investment
in Azerbaijan exceeds $39 billion, making the UK the country's
largest foreign investor.
Trade turnover between the two countries increased by 67% last
year. In the first half of this year, it grew 5.5-fold to $3.6
billion, while Azerbaijan's exports to the UK increased
24-fold.
