First Azerbaijan–U.S. Economic Dialogue held at Baku Energy Week
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Baku, June 2, AZERTAC
The first Azerbaijan–U.S. Economic Dialogue, jointly organized by the Ministry of Economy of Azerbaijan and the U.S. Department of State, convened on June 2 on the sidelines of Baku Energy Week.
Co-chaired by Azerbaijani Minister of Economy Mikayil Jabbarov and U.S. Assistant Secretary of State for Economic, Energy, and Business Affairs Caleb Orr, the Economic Dialogue brought together representatives from governments, international financial organizations, and the private sector to explore opportunities to boost bilateral economic and commercial cooperation under the auspices of the U.S.-Azerbaijan Charter on Strategic Partnership.
Mikayil Jabbarov, Azerbaijan’s Minister of Economy, speaking at the event, said; “Azerbaijan–U.S. relations are developing dynamically, and the Charter on Strategic Partnership plays an important role in strengthening our economic cooperation. There are significant opportunities to expand trade relations through the Trump Route for International Peace and Prosperity and the Middle Corridor, enhance energy security, develop critical mineral supply chains, and explore new investment opportunities in transport, logistics, and digital infrastructure. We look forward to identifying joint projects, strengthening business ties, and maintaining a constructive dialogue on the implementation of mutually beneficial initiatives.”
Assistant Secretary for Economic, Energy and Business Affairs at the U.S. Department of State Caleb Orr said: “The United States and Azerbaijan are committed to increasing bilateral opportunities for business, trade, and economic investment – one of the core elements of the Charter on Strategic Partnership that Vice President Vance and President Aliyev signed in February as part of the Vice President’s historic trip to Baku. I look forward to seeing the outcomes of the projects and plans that we will discuss in the dialogue and the many ways we can continue to strengthen our bilateral economic relationship.”
The First Economic Dialogue featured panel sessions on regional connectivity, trade and transit, energy security, investment, artificial intelligence, and digital infrastructure. During the first session, participants discussed the Trump Route for International Peace and Prosperity, the Trans-Caspian Trade Route, the expansion of regional logistics capabilities, Azerbaijan’s favorable business environment for investors, and the opportunities for U.S. businesses created by Azerbaijan’s growing connectivity with Europe and Central Asia.
During the energy security session, participants explored opportunities for cooperation in the development of the Southern Gas Corridor, electricity interconnections, and energy production. Participants emphasized the importance of diversification of critical minerals supply chains and cooperation on mining, minerals processing, surveying, and other issues.
The panel on economic investment focused on promoting two-way investment in transport and logistics, energy, and digital technologies for the mutual prosperity of both nations. Azerbaijan’s representatives highlighted the incentives, benefits, and favorable regulatory regime for investors in the Alat Free Economic Zone.
The artificial intelligence and digital infrastructure panel highlighted world-class U.S. technology solutions and explored opportunities for cooperation on data centers, AI applications, and the development of regulatory frameworks conducive to tech investment. Both parties emphasized the importance of expanding partnerships and promoting two-way investments to support innovative projects and a growing digital ecosystem.
Within the framework of the event, meetings were also held with business representatives, and the importance of developing cooperation within the private sector and establishing new partnerships was emphasized.
Minister of Economy Mikayil Jabbarov and Assistant Secretary for Economic, Energy and Business Affairs at the U.S. Department of State Caleb Orr witnessed signing of several documents in the field of establishment of digital infrastructure in Azerbaijan, technology transfer, the implementation of efficient industrial solutions.
At the conclusion of the event, the Minutes of the Dialogue was also signed.
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