The 14th meeting of the Joint Intergovernmental Commission on Economic Cooperation between the Republic of Azerbaijan and Ukraine was held in the Ukrainian city of Uzhhorod, APA-Economics reports.
The meeting, co-chaired by Azerbaijan's Energy Minister Parviz Shahbazov and Ukraine's First Deputy Prime Minister and Energy Minister Denys Shmyhal, discussed the current state and prospects for developing cooperation between the two countries in political relations, trade and economy, investment, energy, transport, technology and innovation, culture, science and education, tourism, and other areas.
Energy Minister Parviz Shahbazov emphasized that Azerbaijan-Ukraine relations are developing on a solid political foundation based on strategic partnership and mutual trust. He stated that despite the challenging regional environment, economic relations continue to maintain positive momentum. During the first eight months of this year, trade turnover increased by 10.5%, while Azerbaijan's exports to Ukraine rose by 17%. The total volume of mutual investments reached $513.5 million. There are 290 commercial entities with Ukrainian investment operating in Azerbaijan.
The meeting assessed opportunities to expand cooperation in renewable energy, energy efficiency, energy storage technologies, heat pumps, and electricity. The importance of developing the Caspian-Black Sea-Europe Green Energy Corridor for regional energy connectivity was emphasized. The importance of joint projects in priority areas of economic cooperation was also noted.
Azerbaijan's humanitarian and reconstruction support for Ukraine was also discussed. It was reported that since the beginning of the war, Azerbaijan's humanitarian, rehabilitation, and reconstruction assistance has reached approximately $52 million. Information was provided on equipment assistance for energy infrastructure, the restoration of social facilities in the city of Irpin, and support measures for the rehabilitation of Ukrainian children.
Ukraine's First Deputy Prime Minister and Energy Minister Denys Shmyhal stated that Ukraine attaches great importance to developing its strategic partnership and economic cooperation with Azerbaijan. Highly appreciating Azerbaijan's continued support for Ukraine, the minister expressed gratitude for the solidarity and assistance provided by Azerbaijan. It was noted that essential equipment delivered to Ukraine as part of more than 10 energy assistance packages provided by Azerbaijan to date plays an important role in restoring energy supplies.
Following the discussions, a Protocol on the outcomes of the Intergovernmental Commission meeting was signed. An Action Plan for 2026–2027, covering measures in 14 areas, was also adopted.
An Azerbaijan-Ukraine Business Roundtable was also organized as part of the meeting. Speaking at the roundtable, Energy Minister Parviz Shahbazov stated that the private sector and joint investments play an important role in strengthening economic cooperation between the two countries. Azerbaijan's favorable investment environment, the Alat Free Economic Zone, industrial parks, and transport and digital connectivity create broad opportunities for joint production and access to regional markets.
Energy and energy efficiency, as well as agro-industry, food processing, logistics, and industry, were identified as promising areas of cooperation. The prospects for Azerbaijani companies' participation in Ukraine's industrial parks, public-private partnerships, and reconstruction projects were also discussed.
During the visit, the delegation visited a wind turbine manufacturing facility and the ATEF enterprise at Khust Industrial Park and familiarized itself with their activities.
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