BAKU, Azerbaijan, September 15. CAREC is looking forward to work on several initiatives with Azerbaijan in the nearest future, Director of CAREC Institute Syed Shakeel Shah told Trend.
“We have been working very closely with the Government of Azerbaijan during COVID-19 pandemic. We covered Azerbaijan in our report on how to respond to the challenges coronavirus in regard with the economic revival. We have also been working with TRACECA commission on the development of the trade routes operation,” he said.
Regarding the new possibilities for cooperation between CAREC and Azerbaijan, the director highlighted several projects.
“Right now we are seriously thinking on working on the possibilities regarding the Trans-Caspian International Transport Route (TITR), so-called the Middle Corridor. This transport route is extremely valuable in terms of connecting China directly with Europe. Today we already see its benefits. CAREC would like to work on the proposition of digitalization of the whole process on the route. This will lead to much faster trade flow. This is a one key area of cooperation we are looking forward to,” Syed Shakeel Shah said.
Energy sector is another promising field for cooperation with Azerbaijan, the director noted.
“Azerbaijan is a major fuel exporting country. CAREC program is willing to work on establishing regional energy systems for oil and gas pipeline, as well as for electricity grids. Some of those projects are already working. Moving forward, with more investments in Azerbaijani energy sector, establishing those systems could act as safeguards for the countries in the region in case of such energy shocks as we see today,” he said.
Following the signing of the Memorandum of Understanding between CAREC and the Institute of Scientific and Economic Research under the Ministry of Economy of Azerbaijan, next year, CAREC plans to develop a joint research product with the Institute, which will respond to the demand and requirements of Azerbaijani Government, the director added.
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