Minister: Azerbaijan, US move closer to signing strategic framework agreement

Azerbaijan and the United States have conducted preliminary discussions regarding the potential signing of a framework agreement, Economy Minister Mikayil Jabbarov announced during a special government meeting dedicated to reviewing the results of President Ilham Aliyev’s visit to the United States.

The minister explained that favourable conditions for concluding such a document have emerged following President Aliyev’s historic visit to Washington, Caliber.Az reports via domestic media.

He emphasised that preliminary talks have already taken place, during which Azerbaijan’s significant contribution to energy security both regionally and globally was highlighted.

“Special attention was paid to Azerbaijan’s rich energy resources and the potential of renewable energy sources,” Jabbarov added, underscoring the country’s strategic role in the global energy landscape.

Jabbarov also highlighted that trade cooperation between Azerbaijan and the United States has been steadily developing over many years. He provided figures for 2024, noting that the volume of mutual trade reached $1.7 billion, representing a 94% increase compared to 2023. Of this total, imports from the United States accounted for $1.6 billion, while Azerbaijani exports to the US totalled $135 million.

The minister pointed out that Azerbaijan remains highly attractive for investment by American companies. Currently, 300 companies with American capital are registered in Azerbaijan, operating across sectors such as agriculture, industry, transport, construction, and trade.

Jabbarov concluded by stating that the meetings held in the United States are expected to create opportunities to further increase the economic potential of both Azerbaijan and the United States, reinforcing bilateral cooperation and expanding avenues for mutual growth.

By Tamilla Hasanova