Vietnam and Azerbaijan agree on trade and energy cooperation agenda

On the afternoon of May 29, Minister of Industry and Trade Nguyen Hong Dien held an online working session with Parviz Shakhbazov, Minister of Energy of the Republic of Azerbaijan, to exchange views and reach consensus on key areas of bilateral cooperation in economy, trade, industry, and energy.

Minister of Industry and Trade Nguyen Hong Dien in a working session with Minister of Energy of the Republic of Azerbaijan - Parviz Shakhbazov.

Attending the meeting from the Azerbaijani side were Shovgi Mehdizade, Ambassador of Azerbaijan to Vietnam, and representatives from the Department of International Cooperation, Department of Oil and Gas, the Azerbaijan Renewable Energy Agency and the Azerbaijan Energy Regulatory Agency.

From the Vietnamese Ministry of Industry and Trade (MoIT), the meeting was joined by representatives from the Foreign Market Development Department, Petroleum and Coal Department, Electricity Regulatory Authority, and the Agency for Innovation, Green Transition and Industrial Promotion.

This meeting took place shortly after the two countries elevated their relationship to a Strategic Partnership, following the State visit by General Secretary To Lam to Azerbaijan in early May 2025.

During the talks, both ministers acknowledged the significant political and economic implications of the high-level visit and reaffirmed their commitment to effectively implementing senior-level agreements through existing cooperation mechanisms.

The two sides reviewed the current state of economic, trade, and energy cooperation, and exchanged views on specific directions and measures to further strengthen substantive and effective collaboration in the time ahead.

On trade and economic cooperation, the ministers agreed that while bilateral trade between Vietnam and Azerbaijan has made progress, it remains modest relative to its full potential. Both parties committed to stepping up trade promotion activities, facilitating market access for businesses, removing technical barriers, encouraging two-way investment, and enhancing business-to-business connectivity in areas of complementary strengths.

In the energy sector—a key pillar of bilateral ties—the two sides reaffirmed their shared interest in expanding cooperation. Minister Nguyen Hong Dien emphasized Vietnam’s desire to deepen collaboration in oil and gas, renewable energy, liquefied gas, technical training, and the transfer of technologies related to new energy, renewable energy, and hydrogen development.

Minister Nguyen Hong Dien affirmed that Vietnam wishes to expand cooperation with Azerbaijan in the fields of oil and gas, renewable energy, liquefied gas, technical training and technology transfer of new energy, renewable energy, and hydrogen.

The ministers pledged to effectively implement the Memorandum of Understanding on Energy Cooperation, signed in early May 2025, as a foundation for future engagements.

A focal point of the meeting was the Third Session of the Vietnam–Azerbaijan Intergovernmental Committee on Economic and Trade Cooperation, which both sides agreed is essential for taking stock of bilateral cooperation across sectors and determining strategic directions moving forward. This would mark the first session since the second meeting held in 2018.

Building on the outcomes of the technical session held on April 18, 2025, the two ministers agreed to assign focal points—Vietnam’s Department of Foreign Market Development and Azerbaijan’s Department of International Cooperation—to continue close coordination in finalizing the draft minutes of the upcoming session.

Both sides agreed to organize the third session of the Intergovernmental Committee in July 2025.

This meeting underscores the shared resolve of both ministries to deepen the Vietnam–Azerbaijan strategic partnership, while opening up new prospects for practical, effective, and sustainable cooperation in the years to come.