Azerbaijan, U.S. sign framework document on mining, supplies of rare earths

BAKU. June 2 (Interfax) - Azerbaijan and the United States have signed a framework document on ensuring supply chains in the extraction and processing of critical minerals and rare earth elements, a source in the government of Azerbaijan told Interfax.

The document was signed by Azerbaijan's Economy Minister Mikayil Jabbarov and U.S. Assitant Secretary of State for Economic, Energy and Business Affairs Caleb Orr on the sidelines of Baku Energy Week, which began on June 1.

Azerbaijan signed agreements with foreign companies worth $7.5 billion at Baku Energy Week, Azerbaijani state media reported. Agreements and memorandums were signed with companies and entities from countries such as the U.S., Turkey, Serbia, San Marino and France.

State Oil Company of Azerbaijan Republic (SOCAR) and George Washington University signed a memorandum of understanding on cooperation within the framework of the Washington Hub platform. SOCAR also signed an agreement on cooperation with Haimaker.ai in the development of cloud infrastructure for artificial intelligence.

Azerbaijan's Economy Ministry and U.S. tech company Oracle signed a memorandum of understanding to define the framework for cooperation.

In addition, Azerbaijan and the U.S. signed a protocol of the first Azerbaijan-U.S. Economic Dialog.