Azerbaijan, Israel boost bilateral projects with multi-sector investments—minister

Azerbaijan and Israel have developed a robust economic partnership, with mutual investments now totaling approximately $600 million, Azerbaijani Minister of Economy Mikayil Jabbarov announced, .

“Our cooperation is underpinned by agreements on investment promotion and mutual protection, as well as on the avoidance of double taxation, which provide a solid legal framework for expanding business ties. Currently, 130 commercial enterprises in Azerbaijan operate with Israeli investment. The volume of mutual investments stands at around $600 million,” Jabbarov said during the Azerbaijan-Israel Business Forum, Caliber.Az reports.

The minister emphasized that Azerbaijan and Israel share a strong foundation of political trust and constructive dialogue, supported by years of interaction at both political and institutional levels.

“It should be emphasized that high-level contacts play a crucial role in strengthening bilateral relations. Notably, last week, the two presidents met at the World Economic Forum in Davos, where they discussed the sustainable development of Azerbaijan-Israel relations across a broad range of sectors and identified promising opportunities for further expanding cooperation,” he added.

Jabbarov stressed that deepening economic cooperation with Israel remains a strategic priority for Azerbaijan, guided by a practical and results-oriented approach in areas of mutual interest. Concurrently, efforts continue to strengthen the bilateral legal framework.

Throughout 2025, active high-level engagement reinforced the positive trajectory of economic relations, with a series of ministerial meetings and working-level contacts focusing on energy, high technology, agriculture, food industry solutions, and investment projects.

The minister highlighted the role of the Joint Commission as an effective mechanism for coordinating bilateral initiatives and generating additional momentum for expanding ties.

“Most recently, in November 2025, the 4th session of the Joint Commission was held in Jerusalem, during which we discussed cooperation priorities in energy, trade, investment, agriculture, transport, digitalization, cybersecurity, tourism, and other mutually significant sectors,” Jabbarov noted.

He underscored that Azerbaijan and Israel have built a strong and pragmatic partnership, demonstrating tangible collaboration across a wide array of industries. A key example is the strategic cooperation agreement between the Azerbaijan Investment Company (Azerbaijan Business Development Fund) and the Israeli company OurCrowd, aimed at expanding technological and business links with a focus on energy, healthcare, cybersecurity, agrifood, and educational technologies.

The energy sector remains a cornerstone of bilateral cooperation.

“It is worth noting that Azerbaijan acts as a major investor in Israel’s energy sector, going beyond its traditional role as a reliable energy partner ensuring Israel’s energy security. SOCAR has obtained licenses for gas exploration in Israel’s exclusive economic zone in partnership with bp and NewMed, and serves as the operator during the exploration stage,” he said.

Additionally, Jabbarov highlighted that Azerbaijan’s acquisition of a 10% stake in the Tamar gas field reflects the deepening of this strategic partnership.

By Vafa Guliyeva