The third meeting of Azerbaijan-UK Intergovernmental Commission was held

The third 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 North Ireland in London was held. 

The officials of the relevant bodies of the two countries attended at the meeting held by the Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov and the Minister of State for Trade Policy of the United Kingdom George Hollingbery.

At the meeting sides discussed perspectives of existing cooperation and expansion of relations on economy, trade, energy, tax and customs, agriculture, food security, communications and high technologies, transport, space, e-government and digital government services, education, health, tourism, culture, youth and sport, ecology, military and security.

Co-chairman of the Intergovernmental Commission, The Minister of Energy Parviz Shahbazov informed about economic relations between Azerbaijan and Great Britain and emphasized the successful cooperation between two countries in various fields. It was noted that the trade turnover between the two countries increased by 61.1% last year and during the three months of the current year it increased by 89.6% compared to the same period of 2018. At present, 437 British companies operate in Azerbaijan and about 28 billion dollars have been invested in the economy of Azerbaijan by the country.

"The upcoming meeting of the Joint Intergovernmental Commission will enable us to evaluate potential for all spheres. A route map for the new mutually beneficial cooperation relationships will be identified. Today, under the leadership of President of the Republic of Azerbaijan Mr. Ilham Aliyev, the policy of diversification of the economy and sustainable development are being implemented. This creates a base for further development of our cooperation in the non-oil sector,” the Minister of Energy Parviz Shahbazov said.

The State Minister for Trade Policy of the United Kingdom of Great Britain and Northern Ireland George Hollingbery said that his country is interested in developing multifaceted relations with Azerbaijan and that joint activities will play an important role for this purpose.

The important role of the oil and gas sector in the cooperation between countries was discussed at the meeting. Reducing production costs in the oil and gas sector, improving hydrocarbon productivity, developing new technologies, as well as renewable energy and energy efficiency have been identified as future trends in energy co-operation. The interests of cooperation in creating a better business environment for trade and investment were expressed. Sumgayit Chemical and Pirallahi Industrial Parks and Public-Private Partnership projects have been emphasized as the new opportunities for cooperation, and the importance of the participation of British companies are also highlighted in agriculture, tourism and other fields of non-oil sector.

It was noted that the United Kingdom may share its experience on agriculture, its technology of the development of products, and joint projects can be implemented on the priorities. The signing of the Memorandum of Understanding between relevant institutions will contribute to the process. It is important to exchange experiences on the establishment and development of tourism and recreation zones, and to continue cooperation within the framework of exhibitions and business forums. In the field of education, opportunities for expansion of relations between universities of both countries, English language teaching, vocational training and other areas should be considered. Cooperation in the fields of high technology, digital public services, space, transport, food security, and ecology is one of the important aspects of the development of bilateral relations.

At the end of the meeting a protocol was signed on the outcomes of the 3rd 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.

The document was signed by The co-chairmen of the Commission – the Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov and State Minister for Trade Policy of the United Kingdom George Hollingbery. Bilateral meetings were held between the Minister Parviz Shahbazov and Minister of State for Trade Policy of the United Kingdom of Great Britain and Northern Ireland George Hollingbery and the authorized representative of BP William Lin on the upstream within the framework of the meeting. The sides discussed issues of bilateral cooperation.