AZERBAIJAN, SWITZERLAND SIGN MOU ON ENERGY COOPERATION

09.10.2007 [22:59]
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Azerbaijan`s Minister of Industry and Energy Natig Aliyev and Head of Switzerland`s Federal Department of Environment, Transport, Energy and Communications Moritz Leuenberger signed a memorandum of understanding on cooperation in the field of energy between the two countries in Baku.

Commenting on the agreement, Natig Aliyev said it will bring the two countries closer.

The Minister said Azerbaijan has huge energy reserves, stressing that the country will produce over 40 million tons of oil this year.

Aliyev said Azerbaijan is ready to cooperate with any European country.

Moritz Leuenberger said Switzerland wants to use energy resources of the Caspian Sea.

He noted the European Union has energy dependence from Russia, and that this has an indirect impact on his country.

Leuenberger expressed hope that the memorandum of understanding will gave a huge boost to further development of economic relations between Switzerland and Azerbaijan.

AZERBAIJAN, SWITZERLAND SIGN MOU ON ENERGY COOPERATION

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