UK and Azerbaijan commit to fresh partnership on renewable energy

The website of the United Kingdom Government of Great Britain and Northern Ireland has posted an article devoted to the third meeting of the Joint Intergovernmental Commission held on May 22^nd of current year, and the strengthening of Azerbaijan-UK relations in a renewable energy sector.

The article also touched upon the intentions of the UK and Azerbaijan to renew combined efforts to tackle challenges facing the energy sector, including building on growing renewable energy sectors in both countries. It was noted that Trade Policy Minister George Hollingbery and Azerbaijan’s Minister of Energy, Mr Parviz Shahbazov agreed the need to diversify economies, invest in green energy and build renewable capabilities. It is reported that the UK is a world leader in the renewables sector and clean energy production and has reduced emissions faster than any other G7 country. With world-leading capabilities in areas including offshore wind, green finance and waste management the UK stands ready to support Azerbaijan in diversifying its economy. 

“Azerbaijan is an important trading partner for the UK. Trade turnover between the two countries in 2018 increased by 66.4% compared to the previous year and reached £1 billion. This is an indicator of potential opportunities both for British and Azerbaijani businesses, consumers and exporters”, the article highlightes.  

Trade Policy Minister, George Hollingbery said: “Azerbaijan is one of the world’s fastest growing economies and a key trading partner, with over 400 British businesses currently doing business in Azerbaijan. The UK is committed to strengthening trading ties between our two nations as we look to take control of our own independent trade policy for the first time in over 40 years and today’s renewed commitment around renewable energy is an encouraging first step.”

It was noted in the article that The UK contributes 51% of total investment in Azerbaijan,and In addition to energy firms, a variety of British business including SNC-Lavalin Atkins are already successfully trading the region.

 James Todd, Atkins Azerbaijan Country Manager said:

“Azerbaijan represents an exciting market for Atkins as we seek to use our multi-discipline expertise and local partnerships to add value across sectors, from city master planning to renewable energy development. We’ve had strong growth over the past three years and expect this to continue into the future, supported by a growing economy, a strong support network of UK businesses and an increasing market appetite for services well aligned with our expertise.

The final result is that The UK and Azerbaijan already enjoy a strong political and commercial relationship and UK businesses are ideally positioned to work with Azerbaijani partners to support our shared interests including investment in research and development and the promotion of renewables, agriculture, healthcare and education. The article is available in the following link.

https://www.gov.uk/government/news/uk-and-azerbaijan-commit-to-fresh-partnership-on-renewable-energy