AZERBAIJAN’S ECONOMIC DEVELOPMENT MINISTER MEETS WITH PRESIDENT OF BP-AZERBAIJAN
Economic Development Minister Heydar Babayev met with President of BP-Azerbaijan company Bill Schrader.
Minister said Azerbaijan registered remarkable gross domestic product expansion of 34.5% in 2006. The nation achieved notable accomplishments in implementation of the oil and gas strategy, and became active stakeholder in the regional infrastructure projects. Azerbaijan connects the Central Asia and Europe through the oil and gas pipelines as well as highways and railways.
Heydar Babayev pointed out that expansion of the oil and gas sector has given a kick-start to remaining spheres of the economy. Non-energy sector grew by 12% last year. Amount of lax credits for development of entrepreneurship in Azerbaijan rises year by year. Development of the non-energy sector is now one of the priorities of the economic policy.
The Minister praised BP’s operations in Azerbaijan, and highlighted its role in development of hydrocarbon reserves of Azerbaijan. He said Azerbaijan is keen on enhancing cooperation with BP.
President of BP-Azerbaijan stressed the importance of Azerbaijan in the Caspian region, and highly appraised the country’s transit capabilities. He said it would be fruitful if the country will take more advantage of its transit capabilities for shipping energy resources from Kazakhstan and Turkmenistan. Companies engaged in the oil-gas and oil-engineering sectors in Azerbaijan can take part in the projects in Kazakhstan and Turkmenistan. B. Schrader noted BP-Azerbaijan increasingly uses products and services of local companies.
President of BP-Azerbaijan expressed his satisfaction the present level of cooperation with Azerbaijan and thanked the Azerbaijan Government for boosting these ties.
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