Azerbaijan and United Kingdom aim for strategic partnership

Azerbaijan and the United Kingdom aim to elevate their bilateral relations to a strategic partnership level. This objective was highlighted by Azerbaijani Energy Minister Parviz Shahbazov during the 8th meeting of the Joint Intergovernmental Commission on Trade and Economic Cooperation held in Baku.

British investments in Azerbaijan have exceeded $39 billion, making the United Kingdom the country’s largest foreign investor. Trade turnover has shown significant growth; while it increased by 67 percent last year, it rose approximately sixfold to $3.6 billion in the first half of this year. Notably, Azerbaijan’s exports to the United Kingdom increased 24-fold during the same period.

The energy sector remains a cornerstone of this relationship, rooted in the 1994 ‘Contract of the Century’. Ongoing cooperation through projects like the South Gas Corridor and partnerships with bp contribute to the energy security of both the region and Europe.