An Agreement on Trade and Economic Cooperation was concluded by and between the Government of the Republic of Azerbaijan and the Government of Mongolia on October 21. The Minister of Economy of Azerbaijan Mikayil Jabbarov and the Minister of Foreign Affairs of Mongolia Battseg Batmunkh signed the document. The document provides for improving the legal and contractual framework for economic cooperation with Mongolia, widening ties in various sectors of the economy, including industry, energy, agriculture, trade, investment, transport and transit, tourism, etc., as well as exploring new opportunities for cooperation.

At the event held in video format in this regard, Mr. Jabbarov noted the development of Azerbaijani-Mongolian political and economic relations and the special role of high-level meetings in the development of partnership. The Minister informed about the reforms being carried out in Azerbaijan, the favorable business and investment climate, and the work done to reintegrate the liberated territories into the country's economy by attracting local and foreign investments.

The meeting focused on the National Priorities of the country's socio-economic development until 2030 and invited Mongolian companies to participate in projects implemented in Azerbaijan, emphasizing the importance of expanding ties between businesspersons.

Mongolian Foreign Minister Battseg Batmunkh expressed Mongolia's interest in expanding relations with Azerbaijan and shared her views on the development of economic cooperation.

The minsters expressed confidence that the Agreement on Trade and Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of Mongolia signed today will contribute to enhancing mutual trade and investment ties.