Azerbaijan has supplied more than 1.1 million tonnes of crude oil to Vietnam since 2023, Azerbaijan’s Minister of Energy Parviz Shahbazov said during a meeting with Phan Thi Thang, Deputy Minister of Industry and Trade of Vietnam.

The meeting highlighted that elevating the traditional friendly relations between Azerbaijan and Vietnam to a strategic partnership has created new opportunities to expand political, trade, economic and energy cooperation, The Caspian Post reports, citing the Energy Ministry.

The sides emphasized the importance of Azerbaijani President Ilham Aliyev’s visit to Vietnam in 2014 and the visit to Azerbaijan in May 2025 by To Lam, General Secretary of the Central Committee of the Communist Party of Vietnam.

The discussions focused on implementing the agreements reached at the third meeting of the Azerbaijan-Vietnam Intergovernmental Commission on Economic, Trade, Scientific and Technical Cooperation, held in Hanoi in 2025. The parties also addressed the advancement of joint initiatives in energy, trade, investment, transport and other sectors.

Regarding energy cooperation, the sides noted that Azerbaijan is one of Vietnam’s traditional partners in the oil and gas sector, having supplied more than 1.1 million tonnes of crude oil to the country since 2023.

They discussed continuing Azerbaijani crude oil supplies to Vietnamese refineries, expanding cooperation between the State Oil Company of Azerbaijan (SOCAR) and PetroVietnam, and exploring new opportunities for collaboration in oil and gas exploration and development, oil refining, petrochemicals and oilfield services.

The parties also exchanged views on the prospects for supplying liquefied natural gas (LNG) to Vietnam.

Renewable energy cooperation with Vietnam’s ROX Group was also on the agenda. The sides discussed the potential construction of solar power plants in the Nakhchivan Autonomous Republic and wind power plants near Baku, as well as advancing projects based on the memorandum of understanding signed between the parties.

The meeting also highlighted the importance of expanding trade and economic relations in line with the potential of both countries, diversifying bilateral trade and encouraging mutual investment.

It was noted that seven companies with Vietnamese investment currently operate in Azerbaijan.

The discussions further covered increasing non-oil trade, finalizing the draft Agreement on the Promotion and Reciprocal Protection of Investments, and organizing the next meeting of the Azerbaijan-Vietnam Business Council.