On October 23, during the 9th meeting of the Intergovernmental Commission on Trade and Economic Cooperation in Belgrade, Azerbaijan and Serbia signed a Roadmap to advance bilateral trade, investment, and energy projects , with Finance Ministers Sahil Babayev and Samir Sharifov, and Serbian Minister Nikola Selakovic emphasizing regional connectivity, the Alat Free Economic Zone, Middle Corridor transport links, natural gas exports, SOCAR investments, and participation in EXPO 2027 , reflecting the strategic, friendship-based partnership reinforced by their presidents.
A roadmap was signed between the Small and Medium Business Development Agency (KOBIA) of Azerbaijan and the Serbian Development Agency to implement activities under the Memorandum of Understanding. During the 9th meeting of the Intergovernmental Commission on Trade and Economic Cooperation between Azerbaijan and Serbia, held in Belgrade, the document was signed by Orkhan Mammadov, the Chairman of KOBIA, and Nikola Jankovic, the Director of the International Cooperation Department of the Serbian Development Agency. It was noted that nine Serbian companies currently operate in Azerbaijan, while Azerbaijani construction firms are successfully engaged in major highway projects in Serbia. During his speech, Sahil Babayev, the Finance Minister of Azerbaijan and Co-chair of the Commission, emphasized the favorable business environment in Azerbaijan, particularly the opportunities created by the Alat Free Economic Zone and the Middle Corridor transport project linking Asia and Europe. He invited Serbian companies to invest in Azerbaijan and encouraged Azerbaijani businesses to expand their cooperation in Serbia and the wider Balkan region. Nikola Selakovic, the Minister of Culture of Serbia, expressed hope that the first meeting of the Strategic Partnership Council between Azerbaijan and Serbia would take place by the end of 2025. He underlined that bilateral ties have a strategic character, formalized by the 2013 Declaration of Strategic Partnership, the 2018 Joint Action Plan, and the 2022 Memorandum of Understanding establishing the Council. Selakovic also invited Azerbaijan to participate in the EXPO 2027 Belgrade, set to take place from May to August 2027. Prior to the session, the Azerbaijani delegation paid tribute to National Leader Heydar Aliyev at his monument in Belgrade’s Tasmajdan Park.
Later, a one-on-one meeting between Azerbaijan’s Finance Minister Samir Sharifov and Serbia’s Minister of Culture Nikola Selakovic focused on cooperation across multiple sectors, including energy, transport, agriculture, healthcare, and education. In his remarks, Samir Sharifov highlighted that the strategic partnership between the two nations is built on mutual trust and respect, reinforced by the personal friendship of Presidents Ilham Aliyev and Aleksandar Vucic. He noted the growing trade volume, the increasing role of business missions, and Serbia’s participation in reconstruction efforts in Azerbaijan’s liberated territories. Sharifov also underlined that Azerbaijan began supplying natural gas to Serbia in January 2024, exporting around 300 million cubic meters to date , and mentioned the State Oil Fund’s $72.7 million investment in Serbia. He added that collaboration between SOCAR, EPS, and Srbijagas on a 500 MW combined cycle power plant in Niš would further deepen energy ties. Transport and green energy cooperation were also discussed, with Sharifov highlighting that the peace process between Armenia and Azerbaijan and related regional initiatives offer new opportunities for connectivity. He confirmed that Azerbaijan will actively participate in EXPO 2027 Belgrade. In his address, Selakovic reaffirmed Serbia’s appreciation for Azerbaijan’s support in international forums and its non-recognition of Kosovo’s independence. He stressed the importance of expanding cooperation in construction, trade, energy, and culture, built on respect for sovereignty and territorial integrity.
Following the session, a protocol on the results of the 9th meeting was signed by Sharifov and Selakovic, and a Roadmap for Cooperation was signed by Mammadov and Jankovic. The co-chairs then held a press conference before participating in the Azerbaijan-Serbia Business Forum, attended by public and private sector representatives. During the forum, Sharifov stated that the results of the session defined future cooperation in alignment with the spirit of friendship and partnership between the two countries. He emphasized Azerbaijan’s transparent and diversified economic policy and reiterated the investment potential of the Alat Free Economic Zone and the Middle Corridor project. Sharifov concluded by expressing confidence that the Azerbaijan-Serbia friendship and partnership would continue to grow stronger. The forum also included bilateral business meetings and discussions on joint project prospects. AZPROMO Executive Director Yusif Abdullayev addressed participants, highlighting mutual opportunities for economic collaboration.
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