Caspian Energy Journal Caspian European Club
Wednesday, 28 June 2017 11:30

Transport projects to open new areas of cooperation, - President

Transport projects to open new areas of cooperation, - President

“Azerbaijan is already a reliable partner in the field of oil supplies to the European markets”, President of Azerbaijan Ilham Aliyev said during the Azerbaijan-Poland Business Forum in Warsaw, Caspian Energy News ( reports with reference to

“These years were a period of transformations: political, social and, of course, economic. Today Azerbaijan also demonstrates a very successful economic activity. Since 2004 the economy has grown more than 3 times. We were able to reduce unemployment and poverty to 5-6%. Currently, the private sector accounts for more than 70% of GDP, our financial resources are 4-5 times higher than external debt. Thus, Azerbaijan is a stable country that has managed to attract more than $200 billion as investments over the past 20 years. Half of these funds are foreign investments. The favorable investment environment and trustworthy investment conditions create good opportunities for companies to work in Azerbaijan”, the head of state said.

“We are willing to work with Polish companies in various projects as partners, both in Azerbaijan and in Poland. We are willing to participate in projects related to investing. We invite Polish companies to partner in the field of energy, transport and construction projects being implemented in Azerbaijan. We invite them as contractors. We invite companies to invest in the areas with market potential in the region. I believe that our good political relations and clear idea of economic cooperation will enable us to achieve success in a short time, increase the trade turnover several times, create a very solid basis for the business community”, the President of Azerbaijan said.

“Azerbaijan is implementing very significant energy and transport projects that go far beyond the borders of the state. In the transport sector, we have already started joint activities to create corridors. For many years Azerbaijan has been working on creation of transport corridors, so by now all the necessary transport infrastructure has already been created. We have a railway connection with all our neighbors. We have 6 international airports capable of taking any aircraft. Our cargo fleet is one of the world's leading cargo fleets. Our country is connected with the region with a modern backbone network. We are expanding our transportation through the largest port built on the Caspian Sea. Its first stage is already working, and construction of the seaport is planned to be completed by the next year. It will enable to bring the cargo traffic to 15 million tonnes per year. Test container trains from China to Europe are already moving through Azerbaijan. Thus, the East-West transport corridor can be considered as already created. Azerbaijan extended over $700 million to Georgia as financial support to construct a railway. We are holding the final stage of negotiations with Iran on financing the construction of a railway in Iran. This line will connect the Iranian railways with the Azerbaijani ones. Thus, we are implementing the North-South corridor project, which is stretching from Northern Europe to India, and the East-West corridor - from China to Western Europe”.

The President noted that another project implemented by Azerbaijan together with Poland is the South-West corridor: “Due to the North-South and East-West corridors the delivery time for cargoes will reduce at least twice compared with traditional routes. There is a lot of work to be done, there will be a lot of profit and the project will open many new areas of cooperation.

Another important project supported in Europe at the high level is the Southern Gas Corridor project. Today this project is the only new source of gas supplies to Europe. Azerbaijan started the implementation of this project several years ago. This almost completed project costs $40 billion. It will take 2-3 more years to complete the project. The implementation of various segments of the project is 40-95% complete. This will be a new source of natural gas supply to Europe. This means ensuring energy diversification, energy security, and reliable gas supplies to Europe. We have discussed prospects for cooperation in this area. Azerbaijan is already a reliable partner in the field of oil supply to the markets of Europe.

Person in charge of the newsline: Fidan Isayeva 

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