Azerbaijan and Iraq poised for boost in trade and investment, FM Bayramov says

Trade turnover between Azerbaijan and Iraq has experienced notable growth recently, alongside a rise in mutual investments, reflecting a shared interest in expanding economic relations between the two countries.

This development was highlighted by Azerbaijan’s Foreign Minister, Jeyhun Bayramov, during a joint press conference with his Iraqi counterpart, Fuad Hussein, in Baghdad today, May 7, Caliber.Az reports, citing domestic media.

“The strategic location and geographical proximity of our countries create favourable conditions for the development of cooperation in various sectors such as energy, infrastructure, construction, logistics, agriculture, ICT, and tourism,” Bayramov stated. He also highlighted the establishment of a new intergovernmental commission, which he believes will serve as a catalyst for further enhancing bilateral cooperation.

Bayramov's remarks followed a meeting with Deputy Prime Minister and Foreign Minister Fuad Hussein as part of an official visit aimed at strengthening ties between the two nations.

According to a statement from Azerbaijan’s Ministry of Foreign Affairs, the two ministers began their discussions in a narrow format before continuing with broader talks involving delegations from both sides. The talks focused on key issues related to bilateral and regional cooperation, including the prospects for collaboration in various areas such as economy, trade, energy, transportation, communications, science, culture, education, and tourism.

The importance of political consultations, regular high-level visits, and continued diplomatic engagement in expanding the partnership was underscored during the meeting. Both sides expressed optimism regarding the future development of their ties, particularly in light of recent positive trends in trade and mutual investments.

By Tamilla Hasanova