Within the framework of Baku Energy Week and the 1st Azerbaijan–US Economic Dialogue, the Ministry of Economy of the Republic of Azerbaijan and SOCAR have signed a series of important agreements and memoranda with leading companies and institutions from countries including the United States, Türkiye, Serbia, San Marino, and France. The total value of these deals amounts to $7.5 billion, covering energy, economy, investment, and digital technologies.
It was noted that these documents reflect a shift in Azerbaijan–US relations from a traditional energy partnership toward a broader strategic economic cooperation based on advanced technologies. The protocol of the 1st Azerbaijan–US Economic Dialogue also marks the institutionalization and systematization of economic relations between the two countries.
Within the agreements, cooperation between major international companies such as JP Morgan, Apollo Global Management, Chevron, and Comstock Resources with SOCAR and the TANAP project was highlighted. This is seen as a strong indicator of US business confidence in the stability and investment potential of Azerbaijan’s economy.
In addition, a framework agreement was signed on the exploration and processing of critical minerals and rare earth elements between Azerbaijan and the United States. The document was signed by Azerbaijan’s Minister of Economy Mikayil Jabbarov and US representative Caleb Orr.
Furthermore, a memorandum of understanding was signed between the Ministry of Economy and Oracle, opening new opportunities in digital transformation and technological cooperation.
Overall, the $7.5 billion package demonstrates a new stage in Azerbaijan–US economic relations, expanding cooperation across energy, innovation, investment, and strategic resource management.
