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Switzerland sees potential in strengthening ties with Azerbaijan in energy field

Oil&Gas Materials 11 September 2020 10:41
Switzerland sees potential in strengthening ties with Azerbaijan in energy field

BAKU, Azerbaijan, Sept.11

By Leman Zeynalova - Trend:

Switzerland sees potential in strengthening its ties with Azerbaijan in the field of energy, Swiss State Secretariat for Economic Affairs (SECO) told Trend.

“This applies in particular to energy efficiency and renewable energy sources. We also support the Southern Gas Corridor as it contributes to energy security and diversification. The Swiss company AXPO holds a 5 percent interest in the TAP pipeline, which is part of the Southern Gas Corridor,” said SECO.

“Switzerland has many providers of innovative energy technologies. As the energy transition advances in Switzerland and many countries, these companies see growing opportunities in markets offering attractive investment conditions. The development of concrete cooperation projects between Azerbaijani and Swiss companies depends on the mutual interest of these companies.

“With its favorable geographical location at the crossroads of the East-West and North-South transport corridors, Azerbaijan offers opportunities for foreign investors in the sphere of transportation, e.g. within the framework of the new Alat Free Economic Zone next to the Port of Baku, or the Baku-Tbilisi-Kars railway. In general, the cooperation between Azerbaijani and Swiss companies in the sphere of transport depends on the mutual interest of these companies. The fruitful cooperation between Stadler Rail and Azerbaijan Railways regarding trains, for example on the Baku-Tbilisi-Kars route, can be mentioned as an example,” said SECO.

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