Parviz Shahbazov: Azerbaijan and UK increase trade turnover by 67%

Trade turnover between Azerbaijan and the United Kingdom increased by 67% last year, Azerbaijani Energy Minister Parviz Shahbazov said at the 8th meeting of the Azerbaijan-UK Intergovernmental Commission in Baku.

Report quotes him as saying trade turnover increased nearly sixfold in the first half of this year, reaching $3.6 billion.

"Azerbaijan's exports to the UK increased 24-fold during this period," the minister added.

Shahbazov noted that the UK has become the largest foreign investor in Azerbaijan, with investments exceeding $39 billion.

The minister also stressed that the large-scale oil and gas projects jointly implemented by the two countries, including the Southern Gas Corridor, clearly demonstrate Azerbaijan's contribution to ensuring regional and European energy security.