Expansion of Cooperation within the Intergovernmental Commission between Azerbaijan and Vietnam was discussed

Energy Minister Parviz Shahbazov met with Phan Thi Thang, Deputy Minister of Industry and Trade of the Socialist Republic of Vietnam.

During the meeting, it was noted that the elevation of the traditional friendly relations between Azerbaijan and Vietnam to the level of strategic partnership has opened up new opportunities for the development of political, trade, economic and energy ties. The important role of the visits of President of the Republic of Azerbaijan Ilham Aliyev to Vietnam in 2014 and General Secretary of the Central Committee of the Communist Party of Vietnam To Lam to Azerbaijan in May 2025 in strengthening bilateral relations was emphasized.

The parties discussed the implementation of the agreements reached at the third meeting of the Azerbaijan-Vietnam Intergovernmental Commission on Economic, Trade, Scientific and Technical Cooperation, held in Hanoi in 2025, as well as the advancement of joint initiatives in energy, trade, investment, transport and other sectors.

Regarding energy cooperation, it was noted that Azerbaijan is one of Vietnam's longstanding partners in the oil and gas sector. It was reported that more than 1.1 million tonnes of crude oil have been supplied to Vietnam since 2023. The parties explored opportunities to continue supplying Azerbaijani crude oil to Vietnam's refineries, expand cooperation between SOCAR and PetroVietnam, and develop new areas of collaboration in oil and gas exploration and development, oil refining, petrochemicals and oilfield services. Views were also exchanged on the opportunities for supplying liquefied natural gas (LNG) to Vietnam.

Particular attention was paid to cooperation with Vietnam's ROX Group in the renewable energy sector. The parties discussed opportunities to develop solar power plants in the Nakhchivan Autonomous Republic and wind power plants in the vicinity of Baku, as well as advancing the projects to the next stage based on the signed Memorandum of Understanding.

The importance of joint efforts to expand trade and economic relations in line with the potential of both countries, diversify trade and promote mutual investment was also highlighted. It was noted that seven companies with Vietnamese investment are operating in Azerbaijan. The parties considered ways to increase trade in non-oil products, finalize the draft agreement on the promotion and mutual protection of investments, and organize the next meeting of the Azerbaijan-Vietnam Business Council.

The expansion of cooperation in transport and logistics was positively assessed. It was highlighted that Vietnam-related transit shipments through Azerbaijan increased by more than 200% in 2025 and by approximately 600% in January-September 2026.  The discussions also covered opportunities for workforce training in the energy sector, cooperation between higher education institutions and the exchange of specialists.