The Azerbaijan State News Agency

ECONOMY

Azerbaijani companies can compete globally, says deputy minister

11.06.2026 [13:36]
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Baku, June 11, AZERTAC

“One of the key indicators of Azerbaijan’s economic development is the export of knowledge and skills formed in the country to global markets,” said Elnur Soltanov, Azerbaijan’s Deputy Minister of Energy, during his speech at the “TECHNOVATION: Science and Innovation for Sustainable Economic Transformation” conference held in Baku.

Emphasizing that Azerbaijan's energy sector has made remarkable progress in recent decades, Elnur Soltanov added: “Whereas previously, the implementation of energy projects required more foreign finance and technology, today Azerbaijani companies can compete globally.”

“SOCAR no longer limits its activities to oil and gas production. The company is involved in refining, logistics and energy projects in Azerbaijan, Georgia, Türkiye, Greece, and other countries,” Soltanov noted.