Japan set to deepen energy cooperation with Azerbaijan
By Kamila Aliyeva
Japan is keen to develop its cooperation with Azerbaijan in the oil and gas sphere.
Japan's State Minister of Economy, Trade and Industry Yoshifumi Matsumura voiced his country’s interest while addressing the 9th joint meeting of the State Commission on Economic Cooperation between Azerbaijan and Japan, and Japan-Azerbaijan Economic Committee in Baku.
The sides discussed the development of cooperation between Azerbaijan and Japan on various fronts, including non-oil sector, industry, agriculture, healthcare, human resources, delivery of technologies to the new industrial areas and investment making.
Azerbaijan’s Deputy Prime Minister, Co-Chair of the commission Abid Sharifov said Japan was one of the first countries to recognize Azerbaijan`s independence and establish relations with the country.
He emphasized that Japanese companies are closely involved in the oil and gas sector of Azerbaijan, and expressed hope that this cooperation would expand.
Japan was one of the first countries to support Azerbaijan's forward-looking oil strategy. Today two major Japanese companies Itochu and Impex are involved in the Contract of the Century. Leaders of Japanese business, Mitsubishi, Mitsui, Marubeni, and Sojits are involved in energy and infrastructure projects in the country.
Hailing the importance of discussing steps to increase trade between the two countries, Sharifov called on Japanese companies to cooperate with Azerbaijan in a number of areas, including the establishment of new industrial enterprises, ICT, space industry, water industry and irrigation, alternative and renewable energy sources.
Co-chair of the commission, Vice Chairman of Itochu Corporation Yoichi Kobayashi, in turn, hailed rapid development of relations between the two friendly countries, saying this can set an example to other countries.
Being one of the largest Japanese general trading companies, Itochu became one of the first international companies to be involved in regional oil and gas projects in Azerbaijan.
Diplomatic relations between Azerbaijan and Japan were established in 1992. Relations between the two countries have continued to develop steadily.
A number of important projects are being implemented in Azerbaijan through the financial support of Japan, while very important infrastructure projects had already been commissioned in the country through Japanese government`s loans.
The trade turnover between Azerbaijan and Japan amounted to $558.97 million in 2015, according to the Azerbaijan's State Customs Committee.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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