BAKU, Azerbaijan, October 12. Azerbaijan and the Czech Republic have significant opportunities to expand economic cooperation, diversify trade, and increase mutual investment, Yusif Abdullayev, an official representative of the Azerbaijani delegation, said at the Azerbaijan-Czech Republic business forum in Baku on Monday, Trend’s correspondent reports from the event.
“Economic and trade relations between Azerbaijan and the Czech Republic are showing positive momentum. In 2025, trade turnover between the two countries exceeded $800 million. In January-August 2026, this figure increased by 7.7% year-on-year to approximately $760 million,” he said.
According to Abdullayev, the Czech Republic is one of Azerbaijan’s key trading partners. Based on the results for the first eight months of 2026, the Czech Republic ranked eighth among Azerbaijan’s major trading partners and fifth among its main export destinations.
He noted that crude oil remains Azerbaijan’s main export to the Czech market. During the reporting period, crude oil exports to the country increased by 9.1% year-on-year, exceeding $700 million.
“At the same time, there is considerable potential to diversify Azerbaijani exports to the Czech market. Fertilizers, methanol, aluminum, and fruit and vegetable products are promising areas for expanding exports,” Abdullayev said.
He added that non-oil exports were also showing positive momentum. In particular, chestnut exports increased by more than 43% in the first eight months of 2026, while exports of packaging bags and sacks also recorded growth.
Abdullayev also highlighted the development of investment cooperation between the two countries.
According to him, from 1995 through the first half of 2026, direct investment from the Czech Republic into Azerbaijan totaled approximately $74 million, of which around $70 million went to the non-oil and gas sector. During the same period, Azerbaijan’s direct investment in the Czech Republic reached approximately $70 million.
“Currently, 34 Czech companies operate in Azerbaijan in agriculture, industry, transportation, construction, trade, and services. This provides an important foundation for expanding cooperation between the business communities of the two countries,” he said.
Abdullayev also highlighted the development of transportation and logistics ties. In 2025, transit freight between the two countries reached 32,000 tons, increasing by 47% year-on-year. The East-West and North-West transport corridors play an important role in developing cooperation in this area.
He also emphasized the importance of implementing joint projects in industry and agriculture. In this regard, cooperation with Czech company Škoda Group, as well as work with Agrofert Group on the Aghdam Poultry project in the Karabakh economic region, is noteworthy.
Abdullayev recalled that the Azerbaijan-Czech Republic Republican Business Forum was held in Gabala earlier this year.
“The forum provided a platform for developing ties between the business communities of the two countries and holding discussions in business-to-business (B2B) and business-to-government (B2G) formats. Overall, business forums play an important role in establishing direct contacts between companies, creating new partnerships, and discussing mutual investment opportunities. These platforms should be used effectively to further deepen existing economic ties between Azerbaijan and the Czech Republic,” he said.
The Azerbaijan-Czech Republic business forum in Baku brings together Czech companies operating in transportation, logistics, aviation, industrial engineering, intelligent transportation systems, and financial services. The event aims to expand cooperation between the business communities of the two countries and discuss new joint projects.
