President Aliyev: Today, Azerbaijani oil serves independent state of Azerbaijan

President Aliyev: Today, Azerbaijani oil serves independent state of Azerbaijan

Baku, Azerbaijan, Sept.21


Today, Azerbaijani oil serves the independent state of Azerbaijan, said Azerbaijan’s President Ilham Aliyev, addressing the ceremony to mark 25th anniversary of Contract of the Century and Oil Workers Day on Sept.20, Trend reports.

“We all remember well that the signing of the Contract of the Century created the conditions for our country to enter a new era. In the early 1990s, the newly-independent state of Azerbaijan faced enormous difficulties and challenges. The incompetence, unsatisfactory activity and treacherous steps of the then authorities put our country at the edge of the abyss. The 1991-1993 period will remain in our history as difficult and tragic years. Our country was in crisis – political and economic. The industry was completely paralyzed. The recession experienced in the economic sphere posed great obstacles to the development of our newly-independent country,” said the head of state.

“The people of Azerbaijan demonstrated their inherent wisdom, turned to great leader Heydar Aliyev in 1993 and invited him to take power. Since that time, Azerbaijan has been going through a period of stability. The country has been on the path of development. The reforms carried out from 1993 to this day, the work done have showcased Azerbaijan in the world as a successfully developing country. The economic and political crisis that we were going through at that time was a source of great threat. The courage, foresight and dedication of Heydar Aliyev were able to protect Azerbaijan from all troubles. The civil war ended and Azerbaijan embarked on a path of reform. The Constitution of the independent state was adopted. Illegal armed groups were disarmed and the country was put in order. Of course, it was necessary to take serious steps related to the further development of our country, and the signing of the Contract of the Century occupies a special place among these steps,” noted President Aliyev.

He pointed out that the signing of the Contract of the Century is a historic event.

“The Azerbaijani state and the Azerbaijani people are benefiting from this contract today. It is hard to imagine how Azerbaijan could have ensured its economic development at that time if the Contract of the Century had not been signed. How could we develop successfully? The Contract of the Century has a special place, a special role in the history of our independence. The signing of this contract was also not easy. Long negotiations were not producing results. Of course, both sides tried to achieve more favorable and acceptable conditions for themselves. I believe that on the example of the Contract of the Century we see the positive side of international cooperation because both the investing party, the investors, and the Azerbaijani state, having found a balance of interests, signed this contract on the most acceptable terms for themselves. If the terms of the contracts do not suit investors, then, of course, there can be no talk of any contracts being signed. At the same time, the interests of the Azerbaijani state were fully secured. Azerbaijan, renewing and modernizing as a result of the implementation of the contract, is a clear confirmation of my words,” added President Aliyev.

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