The agreement was reached at the third meeting of the Vietnam – Azerbaijan Intergovernmental Committee on Economic – Trade and Scientific – Technical Cooperation, which took place in Hanoi on July 17. The session was co-chaired by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Azerbaijani Minister of Energy Parviz Shahbazov.

Emphasising the significance of this event, Dien noted that the session followed the successful state visit to Azerbaijan by Party General Secretary To Lam in May 2025, during which the two countries elevated their ties to a strategic partnership. This marked a new chapter in bilateral relations and demonstrated the strong commitment of both countries’ leaders to strongly promoting the traditional friendship in the time ahead.

For his part, Shahbazov affirmed that Azerbaijan always considers Vietnam a partner of top priority in the region, stressing the importance of strengthening coordination among the countries' ministries and sectors through the Intergovernmental Committee to better leverage each side’s strengths and potential.

During the meeting, the two sides reviewed the progress made since the second session of the committee, pointed out advantages and challenges, and identified opportunities for further collaboration. They welcomed the strides in areas such as diplomacy, trade, industry, agriculture, science and technique, culture, sports and tourism, education and training, construction, health care, and information and communications.

Dien proposed that the two sides urge their respective ministries, sectors, and localities to effectively realise the high-level agreements made during the Vietnamese Party leader’s recent visit to Azerbaijan and to carry out the new commitments set during this third session.

The ministers also agreed to enhance information sharing and policy consultation at all levels – from technical experts to government leaders – to promptly address issues arising during the course of cooperation, and to seek flexible solutions to balance and raise bilateral trade. They also pledged to facilitate market access for each other’s key products.

Both sides reaffirmed their intention to strengthen collaboration in the oil and gas sector, viewing it a strategic long-term priority. They agreed to effectively implement the memorandum of understanding on energy cooperation signed between the two ministries.

In addition, the two countries expressed interest in exploring new areas of cooperation that align with current development trends and their respective strengths. These include renewable energy, energy transition, information and communication technology, along with high-tech and emerging industries such as semiconductor, artificial intelligence (AI), cloud computing, green transformation, and the circular economy, to build a modern, green, and sustainable industry.

They were also unanimous in stepping up mutual visits at all levels, including business missions, and in organising economic forums and seminars to help enterprises explore investment and trade opportunities. Both sides agreed to efficiently carry out the cooperation model within the framework of the Vietnam – Azerbaijan Business Council.

In particular, they will consider the negotiation and signing of agreements that provide a more conducive legal framework for trade and investment ties such as an investment facilitation and protection deal and those on mutual recognition of standards and product certification.

After the meeting, Dien and Shahbazov signed the minutes of the third session of the Intergovernmental Committee.

Although bilateral trade remains modest, at around US$52 million in 2024, the outlook is bright. The figure already surpassed US$100 million in the first quarter of 2025 – a signal of strong recovery and significant potential for further expansion, according to the Ministry of Industry and Trade.

Vietnam, Azerbaijan issue joint statement on establishment of strategic partnership

Vietnam and Azerbaijan have issued a joint statement on the establishment of a strategic partnership during the State visit to Azerbaijan by General Secretary of the Communist Party of Vietnam (CPV) Central Committee To Lam from May 7–8 at the invitation of President Ilham Aliyev.