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Azerbaijan emerges as leading transport and transit hub in Eurasia

Politics Materials 7 December 2023 19:00 (UTC +04:00)
Azerbaijan emerges as leading transport and transit hub in Eurasia
Ingilab Mammadov
Ingilab Mammadov
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BAKU, Azerbaijan, December 7. Azerbaijani Prime Minister Ali Asadov has met with UK Minister of State for Exports Lord Malcolm Offord, The Cabinet of Ministers told Trend.

At the meeting the successful development of bilateral relations between Azerbaijan and UK was emphasized.

A broad agenda of interstate ties was recognized, and pleasure with the dynamics of economic and trade cooperation was voiced.

It was claimed that trade turnover surged by more than 55 percent in 2022, surpassing $1 billion. The importance of expanding and diversifying commercial links was underlined. The VI meeting of the collaborative Intergovernmental Commission on Economic Cooperation, held in Baku, was said to help to collaborative efforts in this area.

With around $35 billion in investments, the United Kingdom is the largest foreign investor in Azerbaijan.

The importance of the longtime fruitful and trust-based connection with bp business was underlined, as was the high level of engagement between the two countries in the energy industry.

Energy security projects like the Southern Gas Corridor have been lauded as effective examples of energy cooperation.

Azerbaijan has declared ambitions to increase its gas deliveries to Europe by 2027. The hope was expressed that cooperation with the BP corporation will continue in this way.

At the same time, problems on the agenda of the two nations' cooperation in the field of renewable energy were discussed. It was noted that the 240 MW solar power project in Jabrayil, which will be implemented with bp, will contribute significantly to Azerbaijan's efforts to transition to green energy.

The meeting was also informed about the reconstruction and construction work being done in Azerbaijani lands liberated from Armenian domination.

Several British firms are now involved in projects in these areas, particularly in demining.

The parties discussed potential areas of collaboration in transportation. Azerbaijan has emerged as a key transport and transit center in Eurasia, and given the growing importance of the Middle Corridor, it was highlighted that the British government is keeping a close eye on and supporting this international transport route.

The parties also discussed humanitarian cooperation and identified education as a crucial topic in this context.

During the meeting, the prospects for bilateral collaboration in different areas of mutual interest were explored.

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