BAKU, Azerbaijan, October 12. Azerbaijan and
the Czech Republic have significant opportunities to expand
economic cooperation, diversify trade, and increase mutual
investment, Yusif Abdullayev, an official representative of the
Azerbaijani delegation, said at the Azerbaijan-Czech Republic
business forum in Baku on Monday, Trend’s correspondent reports from the event.
“Economic and trade relations between Azerbaijan and the Czech
Republic are showing positive momentum. In 2025, trade turnover
between the two countries exceeded $800 million. In January-August
2026, this figure increased by 7.7% year-on-year to approximately
$760 million,” he said.
According to Abdullayev, the Czech Republic is one of
Azerbaijan’s key trading partners. Based on the results for the
first eight months of 2026, the Czech Republic ranked eighth among
Azerbaijan’s major trading partners and fifth among its main export
destinations.
He noted that crude oil remains Azerbaijan’s main export to the
Czech market. During the reporting period, crude oil exports to the
country increased by 9.1% year-on-year, exceeding $700 million.
“At the same time, there is considerable potential to diversify
Azerbaijani exports to the Czech market. Fertilizers, methanol,
aluminum, and fruit and vegetable products are promising areas for
expanding exports,” Abdullayev said.
He added that non-oil exports were also showing positive
momentum. In particular, chestnut exports increased by more than
43% in the first eight months of 2026, while exports of packaging
bags and sacks also recorded growth.
Abdullayev also highlighted the development of investment
cooperation between the two countries.
According to him, from 1995 through the first half of 2026,
direct investment from the Czech Republic into Azerbaijan totaled
approximately $74 million, of which around $70 million went to the
non-oil and gas sector. During the same period, Azerbaijan’s direct
investment in the Czech Republic reached approximately $70
million.
“Currently, 34 Czech companies operate in Azerbaijan in
agriculture, industry, transportation, construction, trade, and
services. This provides an important foundation for expanding
cooperation between the business communities of the two countries,”
he said.
Abdullayev also highlighted the development of transportation
and logistics ties. In 2025, transit freight between the two
countries reached 32,000 tons, increasing by 47% year-on-year. The
East-West and North-West transport corridors play an important role
in developing cooperation in this area.
He also emphasized the importance of implementing joint projects
in industry and agriculture. In this regard, cooperation with Czech
company Škoda Group, as well as work with Agrofert Group on the
Aghdam Poultry project in the Karabakh economic region, is
noteworthy.
Abdullayev recalled that the Azerbaijan-Czech Republic
Republican Business Forum was held in Gabala earlier this year.
“The forum provided a platform for developing ties between the
business communities of the two countries and holding discussions
in business-to-business (B2B) and business-to-government (B2G)
formats. Overall, business forums play an important role in
establishing direct contacts between companies, creating new
partnerships, and discussing mutual investment opportunities. These
platforms should be used effectively to further deepen existing
economic ties between Azerbaijan and the Czech Republic,” he
said.
The Azerbaijan-Czech Republic business forum in Baku brings
together Czech companies operating in transportation, logistics,
aviation, industrial engineering, intelligent transportation
systems, and financial services. The event aims to expand
cooperation between the business communities of the two countries
and discuss new joint projects.
