Azerbaijan and UK partner on renewable energy

The nations have agreed to renew efforts to tackle challenges facing the energy industry

The Big Zero report

The Azerbaijan and the UK have committed to renew efforts to build on the growing renewable energy sectors in both countries.

The two nations agreed to further strengthen their existing trade relationship and tackle challenges facing the energy industry.

Azerbaijan is an important trading partner for the UK, with total trade between the countries worth more than £1 billion in 2018 – an increase of 66.4% on the previous year.

The UK is already the single largest investor in Azerbaijan, contributing 51% of total investment in the region.

Exports of goods and services involved in the sector, including advanced engineering, project management services and specialist manufacture for complex equipment was worth more than £644 million in 2018.

Ministers from both countries agreed the need to diversity economies, invest in green energy and build renewable capabilities.

Trade Policy Minister George Hollingbery said: “Azerbaijan is one of the world’s fastest growing economies and a key trading partner, with over 400 British businesses currently doing business in Azerbaijan.

“The UK is committed to strengthening trading ties between our two nations as we look to take control of our own independent policy for the first time in over 40 years and today’s renewed commitment around renewable energy in an encouraging first step.”

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