The Center for Analysis of Economic Reforms and Communication (CAERC) and BP Azerbaijan have signed a memorandum of understanding to support sustainable development of the country’s economy. The memorandum was signed by Vusal Gasimli, Executive Director of CAERC, and Bakhtiyar Aslanbeyli, Vice President for External Affairs and Strategy at BP Azerbaijan.

The agreement outlines joint projects aimed at strengthening the development potential of public-private partnerships, advancing various sectors of the economy, and achieving social and sustainable development goals.

Vusal Gasimli emphasized that the collaboration aligns with President Ilham Aliyev’s vision of transforming “black gold into human capital”: “BP, as a long-term partner of Azerbaijan, contributes not only to the implementation of oil strategies but also to post-oil economic development. CAERC’s collaboration with BP will enhance non-oil sector growth through platforms such as Azexport.az, the Digital Trade Hub, EnterpriseAzerbaijan.com, and the Single Window Export Support Center. This partnership also strengthens CAERC’s institutional development and adoption of innovative approaches and international best practices.”

Bakhtiyar Aslanbeyli highlighted BP’s long-term contributions to Azerbaijan’s economic growth, regional commerce, and energy security: “The signing of this memorandum demonstrates our commitment to building valuable future collaboration. As a responsible corporate citizen, BP remains dedicated to supporting economic diversification and sustainable development in Azerbaijan.”

Prior to the signing ceremony, the BP Azerbaijan delegation visited CAERC’s Single Window Export Support Center and received detailed briefings on the Azexport portal, Digital Trade Hub, and EnterpriseAzerbaijan.com portal. BP representatives noted that Azerbaijan’s rise as a regional economic hub is a direct result of strategic economic reforms implemented over recent years.