The United Kingdom is interested in expanding investment ties with Azerbaijan in both directions, UK Minister of State for Trade Lord Anas Sarwar said during his speech at the 8th meeting of the Azerbaijan-UK Joint Intergovernmental Commission in Baku, APA-Economics reports.
According to him, the key areas of the strategic partnership include defense, innovation and economic growth. Energy, education, infrastructure and security are also important elements of this cooperation.
Lord Anas Sarwar recalled that UK defense official Lord Coaker was in Baku several days ago and discussed the development of cooperation in the fields of defense and security.
“Today, we are focusing our attention on economic relations – how we can support economic growth, promote innovation and attract investment to both countries. We have a very strong foundation for this,” the minister said.
He noted that British companies have played an important role in Azerbaijan’s economic development for more than 30 years, with BP at the forefront of this cooperation. British investment and expertise have contributed to the development of Azerbaijan’s energy resources, the creation of access to international markets and the strengthening of the country’s role in Europe’s energy security.
The minister emphasized that the United Kingdom remains Azerbaijan’s largest foreign investor. At the same time, he said that investment is already increasing in both directions.
“This is exactly the kind of bilateral economic relationship we want to develop: British companies investing in Azerbaijan and succeeding, and Azerbaijani companies investing in the United Kingdom and operating successfully,” Lord Anas Sarwar said.
Lord Anas Sarwar also noted the importance of expanding cooperation beyond traditional areas. He emphasized that Chapman Taylor has applied British design expertise to major projects in Azerbaijan, Anglo Asian Mining has maintained a long-term presence in the country, while Entrust has contributed to Azerbaijan’s digital and cybersecurity sector.
The minister said that alongside intergovernmental and business ties, it is also important to further strengthen relations between the cities and people of the two countries.
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