Trade between Azerbaijan and Ukraine rose 10.5% in the first eight months of 2026, while Azerbaijani exports to the Ukrainian market increased 17%, Azerbaijan’s energy minister said.
Parviz Shahbazov presented the figures at the 14th meeting of the Azerbaijan-Ukraine Intergovernmental Commission on Economic Cooperation in Uzhhorod.
Cumulative investment between the two countries has reached $513.5 million, Shahbazov said. Annual bilateral trade already exceeds $500 million, while 290 companies with Ukrainian capital operate in Azerbaijan.
Ukraine Invites Azerbaijani Companies to Reconstruction Projects
Ukrainian Deputy Prime Minister and Energy Minister Denys Shmyhal invited Azerbaijani companies to participate in the country’s reconstruction and modernization despite continuing war-related and logistical risks.
The two sides identified renewable energy, energy-storage systems, energy efficiency, electric transport, agriculture, logistics, construction materials and industrial equipment as promising areas for cooperation.
Shmyhal said Ukraine was interested in joint production, localizing manufacturing in Ukraine and technology partnerships. He also highlighted potential cooperation in the gas and oil sectors, development of the Trans-Balkan route, and use of Ukraine’s underground gas storage facilities and oil pipelines.
Azerbaijan continues to provide Ukraine with generators, transformers, cable products and other critical equipment used to support energy infrastructure.
The commission also discussed joint projects, including the possible construction of a pumped-storage hydropower plant in Mingachevir.
Source: Vesti Baku.