Azerbaijan and UK to expand trade and investment ties

Azerbaijan and the United Kingdom will expand trade and investment ties under a joint declaration on strategic partnership.

Report informs that the two countries set out their plans in the joint declaration, which also commits them to promoting sustainable, inclusive and diversified economic growth.

The two countries will strengthen economic, trade and investment cooperation by facilitating long-term commercial partnerships, sharing expertise and working together in priority sectors such as renewable energy, infrastructure and services. They will also promote business ties that create jobs, develop skills and generate value in both economies.

"The Participants underline the importance of regional and international connectivity and will support the development of the Middle Corridor, alongside transport, logistics and infrastructure projects that facilitate cross-border trade and investment.

"They will cooperate on the clean energy transition, including renewable energy development, green finance, and low-carbon technologies, to support climate resilience, sustainability and progress towards net-zero objectives, and energy security.

"The Participants will explore opportunities to deepen cooperation in financial and capital markets, including through dialogue between relevant authorities and financial institutions, with a view to supporting sustainable investment, trade finance, SME growth and green finance. They will facilitate knowledge exchange and institutional cooperation that strengthens financial sector resilience, transparency and access to international markets, in accordance with their respective laws and regulations.

"The Participants attach particular importance to the role of the Joint Intergovernmental Commission on Trade and Economic Cooperation as a mechanism for driving economic, trade and investment cooperation, and technical dialogue. They will use this as the principal platform to advance joint initiatives on investment, economic diversification, Middle Corridor development and energy cooperation," the declaration says.