Baku, Azerbaijan, June 8
By Anvar Mammadov – Trend:
Azerbaijan is inviting European companies to invest in the development of the country’s non-oil sector, Azerbaijani Economy Minister Shahin Mustafayev said.
He made the remarks June 8 at the EU-Azerbaijan Business Forum in Baku.
“Azerbaijan and the EU have great potential for expanding cooperation in industry, transportation, agriculture, IT, tourism, education and healthcare,” the minister said.
Mustafayev added that the EU-Azerbaijan cooperation in the energy sector remains promising.
So far, the second stage of the project to develop the large Shah Deniz gas and condensate field has been completed by 93 percent, while the work on the expansion of the South Caucasus Pipeline has been completed by 85 percent, he said.
Mustafayev noted that the work on construction of the Trans-Anatolian Natural Gas Pipeline (TANAP) has been completed by 72 percent, adding that the work on construction of the Trans-Adriatic Pipeline (TAP) has been completed by 42 percent.
To date, there are many tools for cooperation between Azerbaijan and the EU, he said.
“Twinning projects, TAIEX (Technical Assistance and Information Exchange), SIGMA (Support for Improvement in Governance and Management), as well as technical and budgetary support can be mentioned among them,” Mustafayev added. “Since 1992, the EU has provided support worth 582 million euros to Azerbaijan within the framework of these tools.”