Azerbaijan ready to invest heavily in Serbia, President Aliyev says

President of Azerbaijan Ilham Aliyev has stated that Azerbaijan is prepared to make substantial investments in Serbia, highlighting the growing strategic partnership between the two countries.

Speaking during a joint press statement with President of Serbia Aleksandar Vučić in Belgrade on February 15, the Azerbaijani leader underlined Serbia’s reform-driven progress and its increasing attractiveness to foreign investors, Caliber.Az reports via state media.

“Precisely as a result of the reforms carried out, many countries, including Azerbaijan, are ready to invest heavily in Serbia,” said President of Azerbaijan Ilham Aliyev during his press statement with President of Serbia Aleksandar Vučić.

The head of state noted that the construction and reconstruction of power plants, as well as their rehabilitation, ensure the future development of every country.

President Ilham Aliyev also outlined the long-term vision for bilateral cooperation.

“We also have clear plans for the future. These include further strengthening our relations both politically and economically, as well as in the energy sector; continuing to support each other’s territorial integrity and sovereignty within international platforms and international organizations; implementing joint investment projects; and by taking advantage of the new opportunities that have emerged in the energy and transport sectors, looking further ahead to create a very strong synergy.”

Energy cooperation featured prominently in the discussions, with the Azerbaijani leader confirming plans to increase gas supplies to Serbia.

“Our relations in the energy sector are now developing in a multifaceted format. A short while ago, we began exporting natural gas to Serbia, and today we have decided that we will increase the volume of those exports,” said Aliyev.

"By converting the gas to be exported to Serbia into electricity, we will achieve the production of clean electricity. This will create opportunities both for the Serbian market and for future exports," the head of state emphasized.

Highlighting the political dimension of bilateral ties, President Aliyev stressed the consistent mutual support between the two nations.

“Serbia and Azerbaijan – two friendly countries always stand by each other,” President Aliyev noted.

The Azerbaijani President also congratulated Serbia on its national holiday and praised President Vučić’s leadership.

“Under your leadership (President Vučić – ed.), Serbia is developing successfully, has earned great respect on the international stage, and has implemented significant reforms in the economic and social spheres,” said Aliyev.

The head of state noted that, as a result, Serbia - despite being a country without natural resources - is developing successfully in economic terms, relying on its own strength and receiving no assistance from anywhere. “In the current circumstances, especially for a country located in the European space, this should be regarded as a distinctive achievement,” the President added.