BAKU, Azerbaijan, February 13. Investments from Serbia in Azerbaijan’s non-oil sector have reached approximately $ $10 million, Azerbaijan’s Finance Minister Sahil Babayev said, Trend reports.
Speaking at a reception marking Serbia’s Statehood Day and Armed Forces Day, Babayev noted that Azerbaijan’s imports from Serbia increased by 55%, while bilateral trade turnover reached $135 million in 2025.
“We are confident that through joint efforts, Azerbaijani-Serbian trade relations will continue to expand. Cooperation in the field of investment is also growing. Investments from Serbia directed to Azerbaijan’s non-oil sector have reached approximately $10 million,” he said.
The minister highlighted that to date, 57 bilateral legal documents have been signed between Azerbaijan and Serbia.
“The strategic nature of our ties is largely defined by the sincere relations established between President of the Republic of Azerbaijan Ilham Aliyev and President of the Republic of Serbia Aleksandar Vučić. In particular, I would like to note the Declaration on Strategic Partnership signed in 2013, the Joint Action Plan adopted in 2018, and the establishment of the Strategic Partnership Council in 2022,” he said.
Babayev emphasized that in recent years, cooperation between the two countries has expanded across a broad range of areas, including trade, investment, energy, industry, transport, agriculture, social policy, culture, and humanitarian sectors. He noted that the growth of Serbian investments mainly directed to Azerbaijan’s non-oil sector, as well as the increase in investments by the State Oil Fund of Azerbaijan in Serbia’s financial instruments, clearly demonstrate the strengthening of mutual trust and partnership between the two countries.
Particular emphasis was placed on cooperation in the energy sector. It was noted that Azerbaijan is a reliable partner contributing to strengthening Serbia’s energy security. The minister also positively assessed the expansion of cooperation in transport and logistics, including transit transportation. It was stressed that in 2025, the volume of transit shipments increased compared to the previous year. The launch of direct Belgrade-Baku flights from 2026 will further intensify economic, tourism, and humanitarian ties.
The minister also underscored the important role of the Intergovernmental Joint Commission in advancing Azerbaijani-Serbian cooperation. It was reported that the ninth meeting of the commission, held in October 2025 in Belgrade, was significant for bilateral relations. The protocol signed following the meeting covered specific areas, including trade and investment, energy and industry, and transport and logistics, as well as contacts between business circles.
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