BAKU, Azerbaijan, March 11. Azerbaijan's growing exports and investments in non-oil and gas products to Spain continue to be a key priority for the country, said Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), Trend reports.
Speaking during the Azerbaijan-Spain Business Forum held in Baku, Abdullayev noted that, in 2022, Azerbaijan’s exports to Spain exceeded $1 billion, with total turnover reaching approximately $1.1 billion. However, he pointed out that this figure has been gradually decreasing.
"In 2023, these figures dropped slightly and were around $899 million. In 2024, due to a decrease in energy exports, our turnover was approximately $310 million".
However, when we examine Spain's imports to Azerbaijan, we see significant growth. While exports from Spain to Azerbaijan were nearly $100 million in 2022, they surged to approximately $165 million in 2024. A key objective for us is to continue increasing exports and investments in non-oil and gas products to Spain," he said.
Abdullayev emphasized that Spain is involved in energy projects in Azerbaijan, but the primary focus is on increasing exports of non-oil and gas products.
"Over 20 Spanish companies are currently collaborating with us in sectors such as energy, infrastructure, construction, services, and consulting. We particularly value the opportunities for cooperation in alternative and "green energy" sectors, where we can greatly benefit from Spain’s expertise. Additionally, our security relations with Spain remain strong.
In recent years, we have seen a rise in alcohol exports from Azerbaijan to Spain. At the same time, we are actively working on developing our tourism potential. The increase in direct flights is also a significant step, as it creates new opportunities to strengthen bilateral business ties between our countries. However, as I mentioned earlier, our primary focus remains on expanding cooperation in the non-oil and gas sectors," Abdullayev added.
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