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Akbar Novruz

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Elnur Mammadov has stated that Azerbaijan may attract state investment funds to support energy and infrastructure projects in Ecuador, AzerNEWS reports.

Speaking in an interview with Expreso during his recent visit to Ecuador, the Azerbaijani deputy foreign minister highlighted prospects for expanding bilateral economic cooperation.

“Our vision includes close energy cooperation. Through our state investment funds, we have the opportunity to provide the necessary financial resources for the energy and industrial infrastructure of Ecuador,” Mammadov said while answering a question regarding potential Azerbaijani investments in local infrastructure.

The deputy minister emphasized that Azerbaijan considers itself a significant geopolitical actor and pointed to the country’s sovereign wealth capabilities, including the State Oil Fund of the Republic of Azerbaijan, which he described as one of the largest sovereign funds in the Eurasian region.

According to Mammadov, agriculture could also become a major area of bilateral investment cooperation between the two countries.

“We are an oil and gas country, a significant part of our income comes from this area, so we have begun to diversify the economy and are actively developing the non-oil sector,” he said.

“Taking into account Ecuador's agro-industrial experience, this sector is becoming the second major direction of our bilateral cooperation,” the Azerbaijani official added.