Financial Times Deutschland: Azerbaijan to Invest in Europe

Politics Materials 9 October 2007 12:44 (UTC +04:00)
Financial Times Deutschland:  Azerbaijan to Invest in  Europe

Azerbaijan, Baku / corr Trend E.Huseynov / A German daily newspaper published an interview with the Azerbaijani President Ilham Aliyev on Baku's plans to invest oil revenues in the economy of Germany and Europe. "We will make every effort to invest the capital more reliably and with maximum profit," Azerbaijani President Aliyev stated in an interview with the Financial Times Deutschland.

A total of $2bln has accumulated at the State Oil Fund of Azerbaijan. If to believe official forecasts, in the near future this amount will increase 100 times. The statement by Aliyev was made at a time when many western countries are developing projects that might restrict the impact of state funds.

Aliyev stressed Azerbaijan's interest to supply Europe with oil and gas. "We have demonstrated that we are reliable deliverers. We will direct oil revenue in the development of the economy. We do not pursue different goals," the Azerbaijani President assured. These words will be met with understating in Brussels and Berlin, because Europeans are eager to decrease their dependence on Russian energy supplies. Azerbaijan supports the constriction of the Nabucco gas pipeline project, which leads from Central Asia to Austria via Azerbaijan and Turkey bypassing Russia.