BAKU, Azerbaijan, November 7. Over the last three decades, the UK has stood as the largest individual investor in Azerbaijan, Joel John Derbyshire, Country Director Azerbaijan and Energy Lead for Eastern Europe & Central Asia at the UK Department for Business and Trade, said, Trend reports.
He has made the remark at the “Azerbaijan & Kazakhstan - discover two regional hubs” webinar within the International Trade Week event.
“Between 1995 and 2022, the UK's investments in Azerbaijan surpassed $84 billion, contributing to a total foreign direct investment of $280 billion in the country,” he said.
Derbyshire reminded that, in 1994, the Azerbaijani government inked the renowned 'Contract of the Century' with bp, which laid the cornerstone for an enduring and prosperous bilateral trade and investment partnership between Azerbaijan and the UK.
The country director also added that, in 2022, the annual trade volume between the two countries amounted to 1.2 billion pounds, while approximately 400 UK companies are actively engaged in Azerbaijan.