The two hailed the successful development of bilateral relations between Azerbaijan and the UK.
Acknowledging the extensive scope of relations between the countries, they praised the momentum in economic and trade cooperation.
They underscored that the trade volume had surged by over 55 percent, surpassing one billion US dollars in 2022. Both parties highlighted promising opportunities for further expanding and diversifying trade relations. The two expressed confidence that the 6th meeting of the Joint Intergovernmental Commission on Economic Cooperation in Baku would further enhance collaborative efforts in this regard.
They underlined that the UK is the largest foreign investor in Azerbaijan, with an investment reaching nearly $35 billion.
The parties also commended the high level of cooperation in the energy sector, emphasizing the importance of a long-term, efficient and trust-based partnership with bp.
They described energy security projects like the Southern Gas Corridor as successful examples of energy collaboration.
PM Ali Asadov highlighted Azerbaijan’s ambitious plans to double gas supply to Europe by 2027, and expressed hope that cooperation with bp would continue in this area.
The two also discussed issues on the cooperation agenda between the two countries in the field of renewable energy. The sides said that the 240MW AC solar power project planned for implementation in Jabrayil with bp’s involvement would significantly contribute to Azerbaijan’s efforts towards transition to green energy.
Prime Minister Ali Asadov informed Lord Offord of the ongoing restoration and construction works in Azerbaijan’s liberated territories, and mentioned the active participation of several UK companies in these projects, especially in mine clearance efforts.
The parties reviewed the prospects of cooperation in the field of transport, also touched upon humanitarian collaboration.
The meeting also discussed the prospects of cooperation in various areas of mutual interest between the two countries.