The Government of the Republic of Serbia announced that the ninth session of the Intergovernmental Commission on Trade and Economic Cooperation between the Republic of Serbia and the Republic of Azerbaijan was held today, co-chaired by Minister of Culture Nikola Selakovic and Minister of Finance of Azerbaijan Sahil Babayev.
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Further improvement of economic, trade cooperation between Serbia, Azerbaijan
Belgrade,
23 October 2025
The session, held at the Palace of Serbia, discussed the results of previous cooperation and opportunities for its improvement in the areas of trade, investment, energy, agriculture, education and science, culture and tourism.
A document on the further development of bilateral cooperation between the Development Agency of Serbia and the Agency for the Development of Small and Medium-Sized Enterprises of Azerbaijan was also signed.
Selaković stressed that various ways and areas of cooperation between our countries were discussed, with the energy sector being of key importance to us.
He specified that in 2024, imports of Azerbaijani oil to Serbia were six times higher than in 2023, and added that during the first eight months of this year, that number was ten times higher compared to the same period last year.
Selaković emphasised that the meeting also discussed various projects in the field of energy, noting that transport and infrastructure represent another extremely fruitful and useful field of cooperation.
The minister emphasised that trade exchange between the two countries increased 16 times between 2012 and 2024, reaching $512.5 million in 2024.
Babayev pointed out that there is already a very solid legal framework for cooperation between the two countries, as 57 documents have been signed so far, and 13 more will be signed soon, creating a stable and reliable institutional framework that will enable businessmen and citizens to communicate, cooperate and work together.
Highlighting the opportunities that exist in the field of agriculture, he said that both countries have very high-quality products to offer, noting that trade and joint investments in this sector could be of essential importance for the further development of our relations.
The Minister noted that cooperation in the humanitarian field was also discussed, as well as between educational and cultural institutions, social affairs authorities and other relevant bodies.
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Author: Ministry of Culture -
Author: Ministry of Culture -
Author: Ministry of Culture -
Author: Ministry of Culture
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