BAKU, Azerbaijan, November 6. Azerbaijan and Ukraine have agreed on an Action Plan to strengthen bilateral economic ties and expand cooperation.
The document was adopted at the 14th meeting of the Azerbaijan-Ukraine Intergovernmental Commission on Economic Cooperation, held in Uzhhorod, Ukraine, according to Azerbaijan’s Ministry of Energy.
The meeting, co-chaired by Azerbaijan's Minister of Energy Parviz Shahbazov and Ukraine's First Deputy Prime Minister and Minister of Energy Denys Shmyhal, discussed the current state and prospects for developing cooperation between the two countries in political relations, trade and economic affairs, investment, energy, transport, technology and innovation, culture, science and education, tourism, and other areas.
Emphasizing that Azerbaijan-Ukraine relations are developing on a solid political foundation based on strategic partnership and mutual trust, Minister of Energy Parviz Shahbazov said that economic ties had maintained positive momentum despite the challenging regional environment. In the first eight months of this year, bilateral trade turnover increased by 10.5%, while Azerbaijan's exports to Ukraine rose by 17%. The total volume of mutual investments reached $513.5 million. A total of 290 companies with Ukrainian investment operate in Azerbaijan.
The meeting assessed opportunities to expand cooperation in renewable energy, energy efficiency, energy storage technologies, heat pumps, and electricity. The importance of developing the Caspian-Black Sea-Europe Green Energy Corridor in terms of regional energy connectivity was emphasized. The importance of joint projects in priority areas of economic cooperation was highlighted.
Azerbaijan's humanitarian assistance and recovery support for Ukraine were also discussed. During the meeting, it was noted that since the start of the war, Azerbaijan's total humanitarian, rehabilitation, and recovery assistance had reached approximately $52 million. Information was provided on equipment assistance for energy infrastructure, the restoration of social facilities in Irpin, and support for the rehabilitation of Ukrainian children.
Meanwhile, First Deputy Prime Minister and Minister of Energy Denys Shmyhal said that they attached great importance to developing the strategic partnership and economic cooperation with Azerbaijan. Highly appreciating Azerbaijan's continued support for Ukraine, the minister expressed gratitude for Azerbaijan's solidarity and assistance. It was noted that essential equipment delivered to Ukraine under more than 10 energy assistance packages provided by Azerbaijan to date plays an important role in restoring energy supplies.
Following the discussions, a protocol on the outcomes of the Intergovernmental Commission meeting was signed. An Action Plan covering 14 areas for 2026-2027 was also adopted.
An Azerbaijan-Ukraine Business Roundtable was also held within the framework of the meeting. Addressing the roundtable, Minister of Energy Parviz Shahbazov said that the private sector and joint investments play an important role in strengthening economic cooperation between the two countries. Azerbaijan's favorable investment climate, the Alat Free Economic Zone, industrial parks, transport infrastructure, and digital connectivity create broad opportunities for joint production and access to regional markets.
Energy and energy efficiency, as well as agro-industry, food processing, logistics, and manufacturing, were identified as promising areas for cooperation. Prospects for Azerbaijani companies' participation in Ukraine's industrial parks, public-private partnership initiatives, and recovery projects were also discussed. As part of the visit, the delegation visited a wind turbine manufacturing facility and the ATEF enterprise at Khust Industrial Park, where they familiarized themselves with the operations of these facilities.
