Trade turnover between Albania and Azerbaijan from January through March 2024 increased four times compared to the same period in 2023, the statement of the Ministry of Energy of Azerbaijan said following the first meeting of the Intergovernmental Commission on Economic Cooperation between Azerbaijan and Albania in Baku on June 10.

Besides the energy sphere of cooperation, the parties recognized promising cooperation in the field of tourism development (this year the number of tourists from Albania to Azerbaijan tripled), in the agro-sector, food security, transport, trade, culture, education, and healthcare.

Azerbaijan invited Albanian companies to develop projects in Karabakh and East Zangezur in the Alat FEZ, including the including the development of the international corridor “East-West” (through the Caspian Sea).

The Albanian co-chair of the commission, Minister of Infrastructure and Energy Belinda Balluku, stated that the Economic Cooperation Agreement signed on March 1 this year in Baku is an important step towards progress in relations between the two countries.

“Thanks to this agreement and the June 10 meeting of the intergovernmental commission in Baku, we have identified specific areas of mutual interest and steps to facilitate the implementation of our plans. I believe that the fact that we signed the agreement in March and held the first meeting of the intergovernmental commission in June and completed several necessary procedures in record time is a clear sign of the seriousness of the intentions of both sides,” the Albanian minister emphasized.