BAKU, Azerbaijan, September 25. Azerbaijan and African countries have significant opportunities to expand investment cooperation, Adviser to the Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO) Sevil Yahyayeva said on Friday at the 2nd Azerbaijan International Investment Forum in Baku, Trend's correspondent reports from the event.
She noted that Africa has recorded average GDP growth of 4–5% in recent years. The continent's young and growing population also strengthens its economic potential as a source of labor, consumers, entrepreneurs and innovation.
“The continent's main export products include oil, gold, minerals, natural gas and agricultural products. Azerbaijan's resources, markets and human capital create opportunities for cooperation that go beyond traditional trade relations,” Yahyayeva said.
According to her, economic ties between Azerbaijan and African countries are still at a developing stage, while existing indicators point to significant room for growth.
“In 2005, Azerbaijan's trade balance with Africa was negative by $102 million. Factors behind the relatively low level of exports may include underdeveloped business-to-business ties, limited awareness of market opportunities, geographical distance and relatively high logistics costs,” she said.
Yahyayeva noted that investment cooperation had been established with 25 African countries between 1995 and 2025. However, investment flows remain limited.
“Foreign direct investment (FDI) from African countries to Azerbaijan amounted to $104 million. This accounted for 0.08% of total FDI attracted to Azerbaijan,” the AZPROMO official emphasized.
According to her, investment from African countries into Azerbaijan mainly came from the Comoros, Mauritius, Seychelles, Egypt, Liberia, Libya and Morocco.
Yahyayeva said that Azerbaijan's total FDI in Africa amounted to $19.9 million from 1995 through 2025.
“Azerbaijan's main destinations for investment in Africa were Seychelles, Nigeria, Mauritania, Libya and the Comoros,” she added.
The AZPROMO official noted that investment cooperation in both directions was mainly concentrated in the non-oil sector.
“This provides a useful basis for expanding our partnership into new areas,” Yahyayeva said.
