On July 2, Malaysia's Ambassador to Azerbaijan, Ahmad Kamrizamil Mohd Riza, announced that trade between the two nations grew by 173% from 2022 to 2024, reaching $26 million. The announcement was made during a seminar in Baku aimed at strengthening economic and tourism cooperation.

The ambassador detailed that Malaysia’s exports to Azerbaijan amounted to $24.9 million in 2024, while imports from Azerbaijan totaled approximately $1 million. He noted that imports from January to May 2025 have already exceeded $1.4 million, indicating that 2024's total will soon be surpassed. He attributed this dynamic growth to successful joint initiatives and growing trust between the Malaysian and Azerbaijani business communities.

Ahmad Kamrizamil Mohd Riza highlighted that Malaysia recognizes Azerbaijan as a key emerging market, particularly in food processing and manufacturing. He pointed to the steady development of Malaysia’s palm oil sector since 2015, which is underpinned by the Malaysian Sustainable Palm Oil (MSPO) certification covering the entire production cycle.

The ambassador stressed that Malaysian palm oil could enhance Azerbaijan’s food security through a diversified and sustainable supply chain. This aligns with Azerbaijan’s focus on green technologies, especially during its COP29 presidency. In 2024, Azerbaijan imported $82.2 million worth of palm oil, with Malaysia supplying $29.9 million, making it the country's second-largest provider.

He concluded by noting that Malaysia’s global palm oil exports reached $29 billion in 2024, with key importers including China, the EU, Türkiye, and emerging markets like Azerbaijan.