08:01     21 May 2021    

The trade turnover between Azerbaijan and the UK increased in 2019 by 34 percent and amounted to USD 704.6 million.

The trade turnover between Azerbaijan and the UK increased in 2019 by 34 percent and amounted to USD 704.6 million. As BakuTribune reports, Minister of Energy of Azerbaijan Parviz Shahbazov gave this information this at the press-conference dedicated to the 4th meeting of the intergovernmental commission on economic cooperation between the government of the Republic of Azerbaijan and the government of the United Kingdom of Great Britain. According to the minister, in 2020 this indicator decreased by 35 percent due to the negative impact of the pandemic, in 2021 there is an increase again. So, including in the first quarter of current year, the cost of trade between the two countries increased 2.5 times in annual comparison - up to $ 162.2 million. Parviz Shahbazov noted that the successful 30-year cooperation between Azerbaijan and Great Britain in the oil and gas sector has entered a new stage of development in accordance with the new challenges of the global energy sector. “Of the $ 30.6 billion of investments made by the United Kingdom in the Azerbaijani economy, 28.8 billion dollars is accounted for by the energy sector".