Serbia and Azerbaijan have agreed to enhance their cooperation, including an increase in Azerbaijani gas supplies to Serbia and the construction of a joint power plant.
In a significant diplomatic meeting in Belgrade, Serbian President Aleksandar VuΔiΔ and Azerbaijani President Ilham Aliyev agreed to enhance cooperation between their nations. This comes after Aliyev's two-day visit to Serbia on February 15-16, during which they held the inaugural session of the Supreme Council of Cooperation. They signed seven bilateral agreements covering various sectors such as economy, energy, culture, sports, and health, as well as establishing a military cooperation framework for 2026.
One of the key agreements from this meeting revolves around energy collaboration, which includes plans to increase the supply of Azerbaijani natural gas to Serbia through the interconnector pipeline connecting Bulgaria and Serbia (IBS). Furthermore, the two countries have committed to constructing a joint electricity generation plant in the city of NiΕ‘, in southern Serbia, with a planned capacity of 500 MW. This energy agreement signifies a strategic move to bolster energy security and cooperation in the region, emphasizing Azerbaijan's role as a crucial supplier.
The Azerbaijani President also announced plans for a robust increase in investment activities in Serbia by Azerbaijani companies. This indicates a pivot towards deeper economic ties between the two nations and reflects Azerbaijan's aspirations to expand its influence in the broader Balkans. The agreements aim not only to strengthen trade relationships but also to foster a stable and collaborative regional environment, addressing energy needs while enhancing mutual investments.
