Vietnamese media: Hanoi and Baku have significant prospects for developing oil and gas cooperation

In the first three months of 2025, the trade turnover between Vietnam and Azerbaijan exceeded $100 million, nearly double that of the entire 2024.

Report informs via the Vietnamese newspaper Vietnamplus that the economic cooperation between the two countries is showing steady growth: while the bilateral turnover reached $702.5 million in 2022, it amounted to around $250 million in 2023, and approximately $52 million in 2024.

Vietnam exports computers, phones, and components, as well as seafood, to Azerbaijan. In turn, Azerbaijan exports crude oil and petroleum products.

Cooperation between Hanoi and Baku is also expanding in other areas – defense, science, technology, education, workforce training, culture, and tourism. Specifically, education and training specialists have been traditional areas of partnership. The publication notes that during the Soviet era, Azerbaijan helped Vietnam in training students and preparing specialists, and now the parties have completed negotiations on a new agreement in this area.

The publication emphasizes that the two countries have significant prospects in expanding markets, developing the oil and gas sector, and personnel cooperation.