BAKU, Azerbaijan, Mar. 15
Trend:
The US has totally invested $12.8 billion in the oil and gas sector of Azerbaijan, and $14 billion in all sectors of the country’s economy, President of the American Chamber of Commerce in Azerbaijan (AmCham) Nargiz Nasrullayeva told Trend.
According to Nasrullayeva, after the signing of the "Contract of the Century" in 1994, economic ties between the two countries began to expand.
"Our countries are successfully cooperating in the field of investments, and most of them fall on the oil and gas sector. Large-scale projects implemented in the energy sector contribute to the development of the region as a whole,” she said. “Today, Azerbaijan is a gas exporter thanks to the launch of the Southern Gas Corridor, and also participates in providing energy security of Europe.”
“The US constantly provides support for the implementation of large-scale and strategic projects, initiator and participant of which is Azerbaijan," the AmCham’s president emphasized.
In general, the oil and gas sector in Azerbaijan has come a long way of development and, having reached the desired level, continues to make a special contribution to the development of the country, Nasrullayeva noted.
“A lot of companies being part of AmCham are operating in the oil sector. At the same time, one of the main economic priorities of our state in the direction of increasing the efficiency and competitiveness of the economy is to ensure the development of the non-oil sector,” she stressed. “Namely due to this, we are taking more intensive measures to develop the non-oil sector and cooperating in this area with the government, regularly providing our recommendations.”
“It’s gratifying that some of the recommendations proposed by AmCham in this direction have been reflected in strategic roadmaps and government programs," added Nasrullayeva.