Memorandums of understanding were signed with the company "Trafigura Pte Ltd", which operates in the fields of energy, raw materials and non-ferrous metals. As per the documents, there will be cooperation in renewable and "green" energy, decarbonization, aluminum production and other directions.

Minister of Economy Mikayil Jabbarov and President of SOCAR Rovshan Najaf met with Chief Executive Officer and Chairman of "Trafigura Pte Ltd" company operating in energy, raw materials and non-ferrous metal fields, Jeremy Weir.

The favorable business and investment environment of our country and the opportunities created for the private sector were mentioned at the meeting. It was stated that in accordance with global challenges, transformation into a clean environment and "green" energy country is one of the main priorities in Azerbaijan. The Minister of Economy also informed about the projects implemented in the direction of efficient use of energy and the creation of new sustainable energy sources, as well as their implementation status. The importance of establishing cooperative relations with "Trafigura Pte Ltd" company in terms of application of Singapore's experience in the field of renewable energy, mining and aluminum production was emphasized.

A Memorandum of Understanding was signed within the framework of the meeting between "Trafigura Pte Ltd" and the Ministry of Economy of the Republic of Azerbaijan. The document was signed by Minister of Economy Mikayil Jabbarov and CEO and Chairman of the company Jeremy Weir. A Memorandum of Understanding was also signed at the meeting between "Azerbaijan Industrial Corporation" OJSC and "Trafigura Pte Ltd". The document was signed by Kamran Nabizadeh, CEO of Azerbaijan Industrial Corporation, and Jeremy Weir, CEO and Chairman of the company.

The documents envisage cooperation in renewable and "green" energy, decarbonization, aluminum production and other areas.

Note: Trafigura Pte Ltd of Singapore is one of the global companies dealing in energy, raw materials and non-ferrous metals trading. The company with an annual turnover of more than 300 billion US dollars has more than 60 offices in several countries around the world.