Sahil Babayev: Azerbaijan-Serbia trade reaches $135 million

Trade turnover between Azerbaijan and Serbia reached $135 million last year, while imports of Serbian products into Azerbaijan increased by more than half, Azerbaijan"s Finance Minister Sahil Babayev at a reception marking Serbia"s Statehood Day and Armed Forces Day.

According to him, the positive dynamics is particularly noticeable in the structure of imports. "In 2025, our imports from Serbia increased by 55%, and trade turnover between our countries reached $135 million," the minister noted.

Babayev expressed confidence that, through joint efforts, bilateral trade and economic relations will continue to strengthen.

The minister also emphasized the growth of investment cooperation. "To date, investments from Serbia directed into Azerbaijan"s non-oil sector have reached approximately $10 million," he said.

According to the finance minister, 57 bilateral documents have so far been signed between Baku and Belgrade.

"The strategic nature of our relations is largely determined by the open, sincere relations and mutual understanding established between President of Azerbaijan Ilham Aliyev and President of Serbia Aleksandar Vučić. In particular, I would like to note the Declaration on Strategic Partnership signed in 2013, the Joint Action Plan adopted in 2018, and the establishment of the Strategic Partnership Council in 2022," Babayev added.