Israel and Azerbaijan have enjoyed growing trade and economic ties in recent years. From January to April 2023, Azerbaijan exported over 1 million tons of crude oil to Israel, valued at $621 million[2]. Israel is among Azerbaijan’s main trade partners, with mutual investments and effective cooperation in sectors like energy, agriculture, and IT[3].
The oil trade has been crucial in strengthening the political and economic relations between the two countries[4]. Azerbaijan has increased its energy supply to Israel, which now accounts for 40% of Israel’s energy demands after the Ukraine war[5]. This energy partnership has added a new dimension to the Azerbaijan-Israel strategic relationship, as the two countries navigate shifting regional dynamics.
Beyond energy, the two countries have also expanded cooperation in other areas. Israel has become a major destination for Azerbaijani weapon exports, with Azerbaijani drones and missile systems playing a significant role in the 2020 Nagorno-Karabakh conflict[5]. The growing trade and investment ties have solidified Azerbaijan and Israel as important partners, with prospects for further strengthening their economic and political cooperation in the years ahead.
Citations:
[1] https://directorstalk.net/palm-oil-rises-on-strong-exports
[2] https://news.az/news/trade-ties-between-israel-and-azerbaijan-growth-and-prospects
[3] https://www.aic.az/en/news/1290/azerbaijan-israel-relations-expanding
[4] https://mei.nus.edu.sg/publication/insight-298-expanding-israel-azerbaijan-ties-and-impact-on-iran-azerbaijan-relations/
[5] https://www.geopoliticalmonitor.com/azerbaijan-israel-relations-reach-a-new-level/