Economy

UK identifies various economic fields for co-op increase with Azerbaijan


BAKU, Azerbaijan, January 10. The UK considers
energy, infrastructure, agriculture, ICT, healthcare, as well as
financial and professional services, as the most promising fields
of cooperation with Azerbaijan, Kenan Poleo, HM Trade Commissioner
for Eastern Europe and Central Asia, told Trend.

“We have identified six sectors of the economy that we want to
help grow through our joint intergovernmental commission,” Poleo
said.

According to the trade commissioner, the total trade in goods
and services between the UK and Azerbaijan from April 2021 through
March 2022 amounted to 1.1 billion pounds.

He noted that the main exports from the UK to Azerbaijan include
technology, engineering equipment and oil machinery, services.

“Over thirty years of bilateral relations, the UK has been the
single largest foreign direct investor in Azerbaijan. BP alone has
invested $84 billion. In 2021, we agreed with President Ilham
Aliyev that our focus going forward will be supporting Azerbaijan’s
economic diversification,” he added.

Additionally, the UK is the first international partner to
support the work of the Azerbaijan National Agency for Mine Action
(ANAMA), clearing land mines in Azerbaijan’s liberated territories.
It is one of the most important programs that the UK Government is
supporting Azerbaijan at the moment.



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