Promoting Vietnam - Azerbaijan energy cooperation

From May 7-8, 2025, Deputy Minister of Industry and Trade Nguyen Hoang Long joined the high-level delegation of General Secretary To Lam and his wife on a state visit to the Republic of Azerbaijan. This is a visit of profound political and diplomatic significance, contributing to consolidating and expanding the traditional friendship between the two countries, especially in the fields of energy, economy - trade and industry.

During the visit, at the ceremony to hand over cooperation documents, Deputy Minister Nguyen Hoang Long, on behalf of the Minister of Industry and Trade of Vietnam, handed over the Memorandum of Understanding (MoU) on cooperation in the energy sector to the Minister of Energy of Azerbaijan. The MoU focuses on promoting bilateral cooperation in the energy sector, especially oil and gas, renewable energy, oil and gas engineering and related supply chains.

Deputy Minister of Industry and Trade Nguyen Hoang Long at the ceremony to hand over cooperation documents in Azerbaijan. (Photo: Department of Foreign Market Development)

Also during his visit to Azerbaijan, Deputy Minister Nguyen Hoang Long accompanied General Secretary To Lam to a meeting with representatives of leading Azerbaijani enterprises such as the National Oil and Gas Group SOCAR, AZAERGOLD Company, and the State Oil Fund SOFAZ. At the meeting, the enterprises expressed their desire to strengthen cooperation with Vietnam in the fields of oil and gas, minerals, renewable energy, and financial management.

The General Secretary welcomed the cooperation proposals, affirming that Vietnam is ready to create favorable conditions for Azerbaijani businesses to expand their investment, thereby contributing to promoting the Vietnam-Azerbaijan comprehensive partnership to develop substantially, effectively and sustainably.

Deputy Minister of Industry and Trade Nguyen Hoang Long accompanied General Secretary To Lam on his visit to Azerbaijan. (Photo: Department of Foreign Market Development)

In addition, Deputy Minister Nguyen Hoang Long accompanied General Secretary To Lam at the inauguration ceremony of the Memorial Room “President Ho Chi Minh with the career of Vietnam’s oil and gas industry” at Azerbaijan National University of Petroleum and Industry. This is a project of special symbolic significance, showing respect for President Ho Chi Minh and the recognition of international friends for Vietnam’s contributions to the energy industry.

The activities within the framework of the visit have created new momentum for Vietnam-Azerbaijan relations, not only strengthening political ties but also promoting substantive cooperation between the two countries in many key areas such as energy, economy-trade, industry and culture-education, towards an increasingly effective, extensive and sustainable comprehensive partnership.

According to Vietnam Customs data, the total bilateral trade turnover between the two countries in 2024 reached 52.6 million USD, of which Vietnam's exports to Azerbaijan reached 49.2 million USD and imports reached 3.4 million USD.

Traditional exports from Vietnam to Azerbaijan mainly include phones of all kinds and components, machinery and equipment, spare parts, computers, electronic products and components. Meanwhile, crude oil is Vietnam's main import item from Azerbaijan.

The two countries are still maintaining the mechanism of the Intergovernmental Committee on Economic-Trade and Scientific-Technological Cooperation, co-chaired by the Minister of Industry and Trade of Vietnam and the Minister of Energy of Azerbaijan. The 3rd Session of the Committee is expected to be held at the end of 2025.

Thanh Binh

Source: https://congthuong.vn/thuc-day-hop-tac-nang-luong-viet-nam-azerbaijan-387016.html