Baku, October 23, AZERTAC

The 9th session of the Intergovernmental Commission on Trade and Economic Cooperation between Azerbaijan and Serbia, as well as the Azerbaijan-Serbia Business Forum, were held in the Serbian capital of Belgrade,.

Prior to the session, the Azerbaijani delegation laid wreaths at the monument to National Leader Heydar Aliyev in Belgrade's Tasmajdan Park and paid tribute to the memory of the Great Leader.

In a one-on-one meeting held before the session between the co-chairs of the Commission—Azerbaijan's Minister of Finance Samir Sharifov and Serbia's Minister of Culture Nikola Selakovic—the current state and new opportunities for cooperation between the two countries in economic, trade, energy, transport and information technology, customs, agriculture, tourism, social protection, healthcare, education, culture, youth and sports, as well as food security sectors were thoroughly discussed, and an exchange of views was held on the agenda of the 9th session of the Commission.

At the Commission's session, attended by delegations from both sides, Sharifov, in his speech, emphasized that the strategic partnership between the two countries is based on mutual trust, friendship, and respect. The minister noted that the strong political will and personal friendship of Presidents Ilham Aliyev and Aleksandar Vucic form the solid foundation of Azerbaijan-Serbia relations. According to him, the reciprocal visits and meetings of the heads of state in recent years within the framework of international events clearly demonstrate the depth of the strategic dialogue between the two countries. The minister also highlighted the importance of inter-parliamentary cooperation, which was strengthened by the recent visit of Ms. Ana Brnabic, Speaker of the National Assembly of Serbia, to Azerbaijan.

Speaking about cooperation in the economic and trade sectors, the minister stated that the increase in mutual trade turnover between Azerbaijan and Serbia, the organization of business missions, and the expansion of ties between entrepreneurs serve the strategic interests of both countries: "Serbia is an important partner of Azerbaijan in Southeastern Europe. In the coming period, the implementation of joint projects in areas such as economy, finance, industry, tourism, transport, and energy will further expand this cooperation."

He noted that currently, 9 Serbian companies are operating in Azerbaijan, and Azerbaijan's leading construction companies are successfully implementing large highway projects in Serbia. Sharifov stated that the interest of Serbian companies in participating in the restoration and reconstruction of Azerbaijan's territories liberated from occupation is welcomed with satisfaction, and cooperation in this area will further deepen economic ties.

Energy cooperation, as one of the key directions of bilateral relations, was at the center of attention during the Commission's session. It was noted that Azerbaijan began supplying natural gas to Serbia from January 2024, and to date, approximately 300 million cubic meters of gas have been exported. The State Oil Fund of the Republic of Azerbaijan has an investment portfolio of $72.7 million in Serbia; moreover, the collaboration of SOCAR, EPS, and "Srbijagas" companies on the construction of a 500 MW combined cycle gas turbine power plant in the city of Nis will elevate the parties' energy partnership to a new stage.

The minister noted that strengthening transport and logistics ties is a priority for both countries and drew attention to the fact that new initiatives such as transport corridors and the green energy corridor, announced within the framework of the Armenia-Azerbaijan peace process and promising great prospects for the region, open broad opportunities for cooperation. The minister extended congratulations to Serbia for hosting the "EXPO 2027 Belgrade" exhibition and stated that Azerbaijan will actively participate in this exhibition.

In his speech, Nikola Selakovic emphasized that cooperation between Azerbaijan and Serbia is built on principles of mutual respect and benefit, covering the most strategic sectors. He noted the importance of expanding ties between the two countries in areas such as construction, infrastructure, transport, trade, agriculture, energy, culture, and tourism. Selakovic also reaffirmed the friendly and mutually trusting relations between Serbia and Azerbaijan, based on respect for sovereignty and territorial integrity, and expressed gratitude to Azerbaijan for not recognizing Kosovo's unilaterally declared "independence" and for the consistent support provided to Serbia within international organizations. He noted that bilateral relations have a strategic character and have been formalized by the 2013 Strategic Partnership Declaration, the 2018 Joint Action Plan, and the 2022 Memorandum of Understanding on the Establishment of the Strategic Partnership Council. Selakovic also emphasized his hope that the first session of the Strategic Partnership Council will be held by the end of 2025. Selakovic once again invited Azerbaijan to participate in the "EXPO 2027 Belgrade" exhibition to be held in Belgrade from May to August 2027 and expressed confidence that the Republic of Azerbaijan will actively participate in this exhibition.

After the session concluded, a protocol on the results of the 9th session of the Intergovernmental Commission on Trade and Economic Cooperation between Azerbaijan and Serbia was signed by Sharifov Selakovic; additionally, a Roadmap for the Implementation of Activities within the Framework of the Memorandum of Understanding was signed by Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency of Azerbaijan (KOBIA), and Nikola Jankovic, Director for International Cooperation of the Development Agency of Serbia.

The co-chairs then answered questions from the press.

After the press conference, the Azerbaijan-Serbia Business Forum was held with the participation of representatives from the state and private sectors. S. Sharifov and Nikola Selakovic delivered speeches at the forum.

In his speech, Sharifov stated that the results of the 9th session of the Joint Commission define the future directions of cooperation in line with the spirit of friendship and strategic partnership in Azerbaijan-Serbia relations. He noted that intergovernmental dialogue creates a reliable platform for deepening economic ties between the two countries, while the business communities serve as the main driving force of this process.

The minister emphasized that Azerbaijan's economic policy is based on principles of transparency, sustainability, and diversification. Sharifov noted the availability of ample opportunities for the business environment in our country and drew attention to the fact that the Alat Free Economic Zone, as well as the new transport and logistics infrastructure being formed within the framework of the Middle Corridor project connecting Asia and Europe, create great potential for investors. He invited Serbian companies to actively participate in new projects being implemented in Azerbaijan and Azerbaijani companies to expand cooperation in Serbia and the broader Balkan region.

At the end of his speech, the minister expressed confidence that friendship and strategic partnership between Azerbaijan and Serbia will strengthen further in the future, wishing forum participants fruitful discussions and the achievement of new business agreements.

Within the framework of the forum, bilateral meetings were held between businesspeople, and opportunities for cooperation and prospects for implementing joint projects in areas of mutual interest were discussed. AZPROMO Executive Director Yusif Abdullayev delivered a speech at the business forum.

Overall, more than 50 companies, including 16 from Azerbaijan, participated in the business forum.