First meeting of Intergovernmental Commission was held between Azerbaijan and Albania

The first Meeting of the Intergovernmental Commission on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the Republic of Albania was held at the Ministry of Energy.

Before the meeting, a bilateral meeting was held between the co–chairs of the Working Group, Minister of Energy of Azerbaijan Parviz Shahbazov and Deputy Prime Minister of Albania-Minister of Infrastructure and Energy Belinda Balluku. At the meeting, it was noted that Azerbaijan-Albania relations have risen to a new level based on active political dialogue and dynamically developing cooperation.

At the meeting of the Commission, it was emphasized that the strategic views and decisions of the Heads of State aimed at strengthening friendly relations and bilateral cooperation, their mutual visits create great opportunities for the expansion and deepening of relations between the two countries in all directions. In this regard, the importance of the Intergovernmental Agreement on Economic Cooperation and 8 other documents planned to be signed was discussed. In bilateral and European contexts, energy has been viewed as a strategically important direction in partnership. The sides spoke about the implementation of the priorities of cooperation in the gasification of Korca, the use of an underground gas storage facility in Dumrea and the supply of TAP gas to Albania. Energy Minister, Co-Chairman Parviz Shahbazov said that investments worth 1.5 billion euros, tax payments in the amount of 285 million euros over 25 years, commitment to 14 million investments in social projects, employment of local communities are just some of TAP's benefits for Albania: “As a result of increasing TAP's output power by 1.2 billion cubic meters and implementing gasification projects, Albania will become the country to be supplied with gas in addition to its transit role. Thus, from 2026, annual supply of gas to Albania are expected in the amount of about 200 million cubic meters.”

The Minister also said that the COP29 event to be held this year under the chairmanship of Azerbaijan, which promoted the transition to green energy on a global scale and the achievement of climate goals would once again be another opportunity for the solidarity of countries supporting each other in the international arena.

Albanian co-chair Belinda Balluku said: "The agreement on Economic Cooperation that we signed in Baku on the 1st of March this year marks a very important step, as we have jointly identified concrete areas that we see of mutual interest and most importantly we have defined a number of instruments that will facilitate and help bring to fruition whatever that we will jointly decide to pursue. The fact that we signed the agreement in March and we are holding the first Intergovernmental Commission meeting in June, while completing all the necessary procedures in between in record timing, I believe is a clear sign of the eagerness and the seriousness of the intentions of both parties."

The development of cooperation in the fields of economy, trade and industry, energy, agriculture, transport, tourism, culture, education, health and food security was discussed at the meeting. During the three months of this year, the increase in trade turnover by 4 times and the number of tourists from Albania to Azerbaijan by 3 times were noted as positive points. He was invited to cooperate in Karabakh and Eastern Zangezur, in the Alat Free Economic Zone, as well as on the Trans-Caspian International East-West Middle Corridor.

At the end, the protocol of the First Meeting of the Intergovernmental Commission on Economic Cooperation between Azerbaijan and Albania was signed and an Action Plan was adopted.