London hosts 7th meeting of Azerbaijan-UK Intergovernmental Commission
Baku, April 30, AZERTAC
The 7th Meeting of the Joint Intergovernmental Commission on economic cooperation between the Government of the Republic of Azerbaijan and the Government of the United Kingdom of Great Britain and Northern Ireland was held in London.
Prior to the meeting, Azerbaijani Energy Minister Parviz Shahbazov and Gareth Thomas, the UK Parliamentary Under Secretary of State (Minister for Services, Small Businesses and Exports) at the Department for Business and Trade, held a bilateral meeting to discuss key areas of bilateral cooperation.
The co-chairs—Minister Shahbazov and Minister Thomas—then delivered speeches in the presence of delegations from both countries.
Minister Gareth Thomas stated: “Today’s deals with Azerbaijan will allow for an even closer working relationship between our two nations. Our Plan for Change to drive economic growth is at the heart of these agreements, boosting exports and services across the energy, infrastructure, and education sectors. Azerbaijan has for decades been a key partner for many of the UK’s sectors, and these deals will solidify that for years to come.”
Minister Parviz Shahbazov highlighted the importance President Ilham Aliyev places on developing Azerbaijan’s relations and multifaceted cooperation with the UK, its main trading partner. He noted that the UK remains Azerbaijan’s largest foreign investor, with over $37 billion invested to date. The Minister emphasized the presence of over 500 active British companies in Azerbaijan and the fourfold increase in bilateral trade turnover during the first quarter of 2025 as signs of robust economic ties.
He also spoke about Azerbaijan’s long-term strategic partnership with bp, which has invested over $35 billion in the country’s oil and gas sector. This cooperation now extends to new projects, including the continued strategic role of the Southern Gas Corridor, enhanced production at the ACG field, and the launch of green energy initiatives: “The active construction phase of the ‘Shafag’ Solar Power Plant will soon begin. This project exemplifies our expanding cooperation with bp in green energy and the decarbonization of the oil and gas industry. We are also prepared to broaden collaboration with other British companies and investors in various sectors.”
Minister Shahbazov also welcomed the UK Export Finance’s (UKEF) £5 billion loan guarantee for priority projects in energy transition, transport, and infrastructure, underlining its role in deepening economic ties.
Representatives from around 30 Azerbaijani government institutions participated in the session, which reviewed progress across more than 20 areas and included presentations on future development prospects. Agreements were reached on cooperation in energy transition—particularly in renewable energy, grid development, energy efficiency, emissions reduction, and market liberalization—including offshore wind, solar power, and hydrogen infrastructure.
Additional areas of cooperation included economic modernization, diversification through financial and professional services, AI, SMEs, cybersecurity, science and education, health, culture, youth, and sports.
The two sides also explored collaboration in infrastructure development via the Middle Corridor, bilateral investment, trade platforms for the textile industry, water and waste management, transport, aviation, digital construction, and mine clearance.
Agreements were reached to expand company participation in regulatory and business environment reform, foster partnerships in industrial parks and economic zones (including the Alat Free Economic Zone), and increase cooperation in banking, digital development, agriculture, and food security. The importance of accelerating work on the Partnership and Cooperation Agreement between Azerbaijan and the UK was emphasized.
As part of the event, a Memorandum of Understanding was signed between UKEF and the Azerbaijan Export and Investment Promotion Agency (AZPROMO).
The session concluded with the signing of a Protocol on the outcomes of the 7th meeting of the Joint Intergovernmental Commission. It was agreed that the 8th meeting will be held in 2026 in Baku.
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