On 23 October, in Belgrade, the capital of the Republic of Serbia, the Ninth Session of the Intergovernmental Commission on Trade and Economic Cooperation between the Republic of Azerbaijan and the Republic of Serbia, as well as the Azerbaijan–Serbia Business Forum, were convened.
Prior to the session, the Azerbaijani delegation laid floral wreaths at the monument of the National Leader Heydar Aliyev in Tašmajdan Park in Belgrade, paying respectful tribute to the memory of the Great Leader.

In a bilateral meeting held before the session between the co-chairs of the Commission—Minister of Finance of the Republic of Azerbaijan Sahil Babayev and Minister of Culture of the Republic of Serbia Nikola Selaković—the current state and new prospects for cooperation between the two countries in economic, trade, energy, transport, and information technologies, as well as in customs, agriculture, tourism, social protection, healthcare, education, culture, youth and sports, and food security were thoroughly reviewed. An exchange of views was also conducted regarding the agenda of the Ninth Session of the Commission.

At the session, attended by the delegations of both countries, Minister Babayev highlighted that the strategic partnership between Azerbaijan and Serbia is founded upon mutual trust, friendship, and respect. He emphasized that the strong political will and personal friendship between Presidents Ilham Aliyev and Aleksandar Vučić form a solid foundation for Azerbaijan–Serbia relations. According to the Minister, the reciprocal visits of the Heads of State in recent years, as well as their meetings within the framework of international events, clearly demonstrate the depth of the strategic dialogue between the two countries.

Addressing economic and trade cooperation, Minister Babayev stated that the increase in bilateral trade turnover, the organization of business missions, and the expansion of ties between companies serve the strategic interests of both countries: “Serbia is a key partner of Azerbaijan in Southeast Europe. In the forthcoming period, the implementation of joint projects in the fields of economy, finance, industry, tourism, transport, and energy will further consolidate and expand this cooperation.”
It was noted that currently nine Serbian companies operate in Azerbaijan, while leading Azerbaijani construction companies are successfully implementing large-scale highway projects in Serbia. Minister Babayev also underlined that the interest of Serbian companies in participating in the reconstruction and rehabilitation of Azerbaijan’s liberated territories is welcomed, and such cooperation will further deepen bilateral economic relations.
Energy cooperation, as one of the key directions of bilateral relations, was given particular attention during the Commission’s session. It was noted that, since January 2024, Azerbaijan has commenced natural gas supplies to Serbia, with approximately 300 million cubic meters exported to date. The State Oil Fund of Azerbaijan holds an investment portfolio of USD 72.7 million in Serbia, and the collaboration between SOCAR, EPS, and Srbijagas on the construction of a 500-megawatt combined-cycle gas turbine power plant in the city of Niš is expected to elevate the energy partnership to a new level.

The Minister underscored that strengthening transport and logistics links is a priority for both countries, noting that the transport corridors announced within the framework of the Azerbaijan-Armenia peace process, as well as new initiatives such as the “Green Energy Corridor,” open broad opportunities for enhanced cooperation in the region.
Finally, Minister Babayev extended congratulations to Serbia on hosting the “EXPO 2027 Belgrade” exhibition and confirmed Azerbaijan’s active participation in this international event.

In his address, Nikola Selaković emphasized that cooperation between Azerbaijan and Serbia is founded on the principles of mutual respect and benefit, covering the most strategic areas. He highlighted the importance of expanding bilateral relations in sectors such as construction, infrastructure, transport, trade, agriculture, energy, culture, and tourism.
Selaković also reaffirmed that Serbia and Azerbaijan maintain relations based on respect for sovereignty and territorial integrity, grounded in friendship and mutual trust. He expressed gratitude for Azerbaijan’s non-recognition of Kosovo’s unilaterally declared “independence” and for the consistent support provided to Serbia within the framework of international organizations.

Subsequently, an Azerbaijan–Serbia Business Forum was held with the participation of representatives from both the public and private sectors. At the forum, Sahil Babayev and Nikola Selaković delivered remarks. Minister Babayev stated that the outcomes of the Ninth Session of the Joint Commission have defined the future directions of cooperation in line with the spirit of friendship and strategic partnership between Azerbaijan and Serbia. He emphasized that the intergovernmental dialogue provides a reliable platform for deepening economic relations between the two countries, with business communities serving as a key driving force in this process.

The Minister highlighted that Azerbaijan’s economic policy is based on the principles of transparency, sustainability, and diversification. He noted the broad opportunities available for the business environment in Azerbaijan, particularly within the Alat Free Economic Zone and the new transport and logistics infrastructure being developed under the “Middle Corridor” project connecting Asia and Europe, which creates significant potential for investors.
He invited Serbian companies to actively participate in new projects being implemented in Azerbaijan and encouraged Azerbaijani companies to expand cooperation in Serbia and the broader Balkan region.

Concluding his remarks, Minister Babayev expressed confidence that the friendship and strategic partnership between Azerbaijan and Serbia will continue to strengthen in the future and wished the forum participants productive discussions and the successful conclusion of new business agreements.

During the forum, bilateral meetings were held between business representatives, where opportunities for cooperation and the implementation of joint projects in areas of mutual interest were discussed. Yusif Abdullayev, Executive Director of AZPROMO, also addressed the Business Forum.
Overall, the forum was attended by more than 50 companies, including 16 from Azerbaijan.