Romania's energy minister to visit Azerbaijan

Romania's Energy Minister Sebastian Burduja will pay a visit to Azerbaijan.

He will take part in the eighth session of the joint commission between the governments of Azerbaijan and Romania, per Report.

Co-chairman of the commission from the Azerbaijani side is Labour and Social Protection Minister Sahil Babayev.

A joint press conference of the ministers is also expected to be held.

Azerbaijan and Romania enjoy multifaceted cooperation aimed at bringing significant benefits to both nations.

The countries have signed more than 60 interstate and intergovernmental documents on cooperation during the last decade.

Trade between the two countries has increased 2.4 times. The foundation of mutually beneficial Azerbaijani-Romanian relations is the energy and transport sector, and along with trade, transit, and mediation services, there is also a significant investment component.

In particular, Azerbaijan's investments in Romania to date exceed $125 million, while Romanian companies have invested $30 million in the Azerbaijani economy. The bulk of Azerbaijani investments in the Romanian economy accounts for the energy sector, and most of the capitalization is ensured by investments of the State Oil Company of Azerbaijan Republic (SOCAR), which owns a retail network of 70 gas stations and three fuel depots in Romania.

A certain amount of Azerbaijani capital is also involved in logistics, port infrastructure, oil refining, and real estate in that country.