Deputy minister: Azerbaijan’s trade with ECO nations nears $4 billion mark

The volume of trade between Azerbaijan and the Economic Cooperation Organisation (ECO) member states is rapidly approaching $4 billion, according to Elnur Aliyev, First Deputy Minister of Economy of Azerbaijan.

Speaking at the ECO Business Forum on July 2, Aliyev highlighted that in the first five months of 2025, trade turnover between Azerbaijan and ECO countries reached $3.5 billion, reflecting a 10% year-on-year growth, Caliber.Az correspondent reports from the scene.

Azerbaijan maintains active cooperation with ECO members, especially the five key countries. It holds free trade and preferential trade agreements with Türkiye and Pakistan, which are expected to further reduce market barriers and boost commerce.

Beyond trade and investment, Aliyev noted the deepening regional cooperation. As of June 1, more than 10,000 companies from ECO countries operate actively within Azerbaijan.

Since 1995, foreign direct investment from ECO member states into Azerbaijan’s economy has exceeded $22 billion. Bilateral agreements have been signed to support and protect these investments.

Aliyev underscored Azerbaijan’s strategic position at the crossroads of South Asia, Central Asia, the Middle East, and Europe, describing the ECO region’s vast potential as an economic powerhouse with vital energy corridors and transport and logistics links.

Azerbaijan plays a key role in developing the Middle Corridor — a crucial trade artery connecting Asia and Europe under the Belt and Road Initiative, which remains a strategic driver of partnership within the ECO framework.

By Tamilla Hasanova