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Qabil Ashirov

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Azerbaijan and Ukraine have adopted an Action Plan outlining measures to expand bilateral economic cooperation across 14 areas for 2026–2027.

According to Azerbaijan's Ministry of Energy, the 14th meeting of the Intergovernmental Commission on Economic Cooperation between Azerbaijan and Ukraine was held in the Ukrainian city of Uzhhorod.

The meeting was co-chaired by Azerbaijan's Energy Minister Parviz Shahbazov and Ukraine's First Deputy Prime Minister and Energy Minister Denys Shmyhal. Discussions covered the current state and future prospects of cooperation in political relations, trade and economic affairs, investment, energy, transport, technology and innovation, culture, science and education, tourism, and other sectors.

Highlighting that Azerbaijan-Ukraine relations are developing on a solid political foundation based on strategic partnership and mutual trust, Shahbazov said bilateral economic ties had maintained positive momentum despite the challenging regional environment.

During 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. Meanwhile, 290 companies with Ukrainian investment are currently operating in Azerbaijan.

The meeting also addressed opportunities to expand cooperation in renewable energy, energy efficiency, energy storage technologies, heat pumps and electricity. The participants emphasized the importance of developing the Caspian-Black Sea-Europe Green Energy Corridor in strengthening regional energy connectivity and highlighted the need to implement joint projects in priority areas of economic cooperation.

Azerbaijan's humanitarian assistance and support for Ukraine's reconstruction were also discussed. It was noted that Azerbaijan's total humanitarian, rehabilitation and reconstruction assistance to Ukraine had reached approximately $52 million since the outbreak of the war.

The assistance includes the provision of equipment for Ukraine's energy infrastructure, the reconstruction of social facilities in the city of Irpin, and support for the rehabilitation of Ukrainian children.

For his part, Shmyhal said Ukraine attached great importance to developing its strategic partnership and economic cooperation with Azerbaijan. He expressed appreciation for Azerbaijan's continued support and thanked Baku for its solidarity and assistance.

He noted that essential equipment delivered to Ukraine under more than 10 energy assistance packages provided by Azerbaijan had played an important role in restoring the country's energy supply.

Following the discussions, the parties signed a protocol summarizing the results of the Intergovernmental Commission meeting. They also adopted an Action Plan covering 14 areas of cooperation and measures to be implemented in 2026–2027.

An Azerbaijan-Ukraine Business Roundtable was also held on the sidelines of the meeting.

Addressing the event, Shahbazov emphasized the important role of the private sector and joint investments in strengthening economic ties between the two countries.

He said Azerbaijan's favourable investment environment, the Alat Free Economic Zone, industrial parks, and transport and digital connectivity offered extensive opportunities for joint production and access to regional markets.

Energy and energy efficiency, along with agro-industry, food processing, logistics and manufacturing, were identified as promising areas for cooperation.

The Azerbaijani minister also highlighted opportunities for Azerbaijani companies to participate in Ukraine's industrial parks, public-private partnership initiatives and reconstruction projects.

As part of the visit, the Azerbaijani delegation toured a wind turbine manufacturing facility and the ATEF enterprise located in Khust Industrial Park, where they were briefed on the facilities' operations.