BAKU, Azerbaijan, June 2. As part of Baku Energy Week, the first meeting of the Azerbaijan-U.S. Economic Dialogue was held on June 2 as a joint initiative of the Ministry of Economy of the Republic of Azerbaijan and the U.S. Department of State, in accordance with the Charter on Strategic Partnership between the Republic of Azerbaijan and the United States of America, TurkicWorld reports.
The event, co-chaired by Minister of Economy Mikayil Jabbarov and Caleb Orr, Assistant Secretary of State for Economic, Energy, and Business Affairs. was attended by representatives of government agencies from both countries, international financial institutions, and the private sector.
Highlighting the dynamic development of Azerbaijani-American relations, Minister of Economy Mikayil Jabbarov noted that the Charter on Strategic Partnership plays an important role in strengthening economic cooperation.
According to him, there are significant prospects for expanding trade ties through the “Trump’s Route for International Peace and Prosperity” (TRIPP) and the Middle Corridor, strengthening energy security, developing supply chains for critical minerals, and exploring new investment opportunities in the fields of transportation, logistics, and digital infrastructure.
“A constructive dialogue aimed at identifying joint projects, further strengthening business ties, and implementing mutually beneficial initiatives will contribute to bilateral cooperation,” Mikayil Jabbarov stated.
Emphasizing a commitment to expanding bilateral opportunities in business, trade, and economic investment between the Republic of Azerbaijan and the U.S., Caleb Orr, Assistant Secretary of State for Economic, Energy, and Business Affairs. noted that this area is one of the key priorities of the Charter on Strategic Partnership, signed in February of this year in Baku by U.S. Vice President J.D. Vance and President of the Republic of Azerbaijan Ilham Aliyev.
“The results of the projects and initiatives to be discussed within the framework of the dialogue, as well as existing opportunities for further strengthening bilateral economic relations, will give impetus to the development of economic cooperation between Azerbaijan and the United States,” the U.S. Assistant Secretary of State noted.
As part of the first Economic Dialogue, panel sessions were held on regional connectivity, trade and transit, energy security, investment, artificial intelligence, and digital infrastructure. The first session discussed the “Trump Route for International Peace and Prosperity” (TRIPP), the Middle Corridor, the expansion of regional logistics capabilities, Azerbaijan’s favorable business environment for investors, as well as new opportunities that the country’s growing ties with Europe and Central Asia create for U.S. companies.
The session on energy security explored opportunities for cooperation in developing the Southern Gas Corridor, establishing power interconnections, and increasing energy production. Participants discussed the diversification of supply chains, as well as expanding partnerships in the diversification of supply chains for critical minerals and other areas.
The economic investment panel discussed the promotion of economic projects that serve the mutual prosperity of both countries, including the promotion of bilateral investment in transportation and logistics, energy, and digital technologies. The focus was also on opportunities to stimulate U.S. investment in various sectors, including the Alyutsk Free Economic Zone, which offers investors incentives, benefits, and a favorable legal framework.
During discussions on AI and digital infrastructure, information was presented on U.S. high-tech solutions. The parties explored cooperation in the areas of data centers and the implementation of AI technologies, the development of regulatory frameworks, and the prospects for future partnership in this field. During the meeting, the parties emphasized the importance of expanding economic cooperation, stimulating mutual investment, and supporting innovative projects.
The event also included a meeting with representatives of the business community, during which the importance of fostering cooperation between the private sector and building new partnerships was emphasized.
Following the event, it was announced that Baku will host the Second U.S. Artificial Intelligence Week this year.
With the participation of Minister of Economy Mikayil Jabbarov and Caleb Orr, Assistant Secretary of State for Economic, Energy, and Business Affairs, a number of documents and a Protocol on Dialogue were signed regarding the creation of digital infrastructure in Azerbaijan, technology transfer, and the implementation of effective industrial solutions.
