Azerbaijan-Serbia economic cooperation sees steady growth in investments and trade

During the 8th meeting of the Intergovernmental Commission on trade and economic cooperation between Azerbaijan and Serbia in Baku, Deputy Minister of Economy Sahib Mammadov reported that from 1995 through the first quarter of 2024, Serbia's direct investments in Azerbaijan's non-oil and gas sector totaled $3.6 million, Azernews reports.

Mammadov highlighted the presence of 6 Serbian companies registered in Azerbaijan, with 4 actively operating in agriculture, infrastructure, and services.

He noted that Azerbaijan, in turn, has invested $2.8 million in Serbia's economy.

Furthermore, Mammadov mentioned a significant increase in trade turnover between Azerbaijan and Serbia, which rose over fivefold in the first half of this year compared to the same period last year, reaching $30.9 million.