Official: Azerbaijan–Serbia trade turnover reaches $135 million in 2025

Trade turnover between Azerbaijan and Serbia reached $135 million in 2025, with imports of Serbian products into Azerbaijan rising by more than 50 per cent, Azerbaijan’s Finance Minister Sahil Babayev said at a reception marking Serbia’s Statehood Day and Armed Forces Day.

According to the minister, bilateral trade continued its upward trajectory over the past year, with particularly strong growth in imports, Caliber.Az reports per local media. 

"In 2025, our imports from Serbia increased by 55%, and trade turnover between our countries reached $135 million," the minister noted.

Babayev expressed confidence that sustained joint efforts would further strengthen trade and economic ties between the two countries.

The minister also highlighted expanding investment cooperation, particularly in Azerbaijan’s non-oil sector.

"To date, investments from Serbia directed into Azerbaijan's non-oil sector have reached approximately $10 million," he said.

He added that the two countries have signed 57 bilateral documents to date, reflecting the depth of their cooperation.

"The strategic nature of our relations is largely determined by the open, sincere relations and mutual understanding established between President of Azerbaijan Ilham Aliyev and President of Serbia Aleksandar Vučić. In particular, I would like to note the Declaration on Strategic Partnership signed in 2013, the Joint Action Plan adopted in 2018, and the establishment of the Strategic Partnership Council in 2022," Babayev added.

Cooperation between Azerbaijan and Serbia has expanded across a wide range of sectors in recent years, including trade, investment, energy, industry, transport, agriculture, social policy, culture, and humanitarian affairs, the minister said.

According to Babayev, the increase in Serbian investments in Azerbaijan’s non-oil sector, alongside investments by the State Oil Fund of Azerbaijan in Serbia’s financial instruments, underscores growing mutual trust and partnership.

He also stressed energy cooperation, describing Azerbaijan as a reliable partner contributing to Serbia’s energy security.

Babayev welcomed the expansion of cooperation in transport and logistics, particularly in transit transportation.

"In 2025, the volume of transit transportation increased compared to the previous year. The launch of direct Belgrade–Baku flights starting from 2026 will contribute to the further intensification of economic, tourism, and humanitarian ties," he said.

By Sabina Mammadli