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By Trend

President Ilham Aliyev has said that the trilateral format between Azerbaijan, Iran and Russia will create good opportunities for bringing the economic cooperation between the three countries to a higher level.

He made the remarks addressing the trilateral meeting with his Russian and Iranian counterparts, Vladimir Putin and Hassan Rouhani, in Baku Aug. 8.

“The Caspian Sea, which unites us, is our common wealth,” said President Aliyev. “The Caspian Sea is a sea of peace and cooperation and it should remain so.”

“Protection of the ecosystem of the Caspian Sea is the common task of all the littoral states. Azerbaijan makes contribution in this sphere,” added the president.

Russian and Iranian companies have been involved in the development of oil and gas fields in the Azerbaijani sector of the Caspian Sea for 20 years and make great investments, added President Aliyev.

Azerbaijan’s state oil company SOCAR, for its part, is interested in participating in the work carried out in Iranian and Russian sectors of the Caspian Sea, he said.

“Russia and Iran are among our main partners. I am confident that the trilateral format will be useful for our countries’ business structures as well,” said the president. “Increasing the volume of the trade turnover, mutual investments and expanding the mutual export opportunities is of great importance for economic cooperation.”

President Aliyev noted that there are good prospects for cooperation in the spheres of finance, banking and insurance.

“Given the broad financial opportunities of our countries, we can also participate in joint investment projects in other states,” said the president.

He pointed out that favourable conditions have been created in Azerbaijan for making investments.

The president said that $200 billion worth of investments have been made in Azerbaijan over the last 20 years and half of this volume accounts for foreign investments.

Agriculture, tourism, telecommunication spheres have great potential for making investments, added the president.

Azerbaijan ranks 40th in the Global Competitiveness Index (GCI) of the Davos Economic Forum, he said.

President Aliyev further emphasized the successful cooperation in power industry. Azerbaijan has connected its power transmission lines with that of Iran and Russia and the volume of power exchange of both countries is increasing year after year, added the president.

“In accordance with the energy agreement with Russia, Azerbaijan’s power system operates in parallel operation mode with Russia’s unified power system,” he said. “The Khachmaz, Darband and Yalama power transmission lines connect the power systems of the two countries.”

“Currently, energy exchange with Iran is ensured via Parsabad, Astara-Astara and Julfa power transmission lines. The power transmission line between Imishli and Parsabad was connected several days ago, while the power transmission lines between Masalli and Astara cities will be put into operation in the near future,” said President Aliyev.

Azerbaijan has already turned from an electricity importing country into its exporter, he said, adding that the country’s export potential has increased.

“I am confident that with joint efforts, we will achieve the creation of a reliable energy corridor. This corridor can ensure the energy exchange between the three countries and the access to new markets.”

President Aliyev also said he is glad that there is a reliable cooperation in the border protection.

“Border service heads of Iran, Russia and Azerbaijan met in Baku at Azerbaijan’s initiative,” he said. “Intensification of cooperation in this sphere, joint exercises, as well as joint measures in the Caspian Sea, operative information exchange will even more strengthen the security of our countries.”

President Aliyev said the cooperation in transportation has a very good and promising future.

“Azerbaijan is the only country in the world to have borders both with Iran and Russia. Currently, there is a railway service between Russia and Azerbaijan,” said the president.

“We decided this year to extend Azerbaijan’s railways to Iranian borders in the near future,” said the president. “Hopefully, we will achieve this in the near future.”

President Aliyev reminded that a groundbreaking ceremony has been held recently for a railway bridge across the Astara River on the Azerbaijani-Iranian border.

“These infrastructure projects are a part of the North-South international transportation corridor,” said the president, adding that the North-South corridor is a strategically important transnational project.

“Many countries will use this corridor in the future,” said the president, adding the North-South corridor can bring great economic benefits and this route is very advantageous in terms of time of transit cargo transportation.

“I hope that with joint efforts, we will achieve the implementation of this project soon,” added the president.

“Fortunately, our countries have no national or religious problems. This is the value and wealth achieved by our countries,” said President Aliyev.

He pointed out that Azerbaijan has been the place of various religions, cultures and civilizations throughout centuries.

“We are not only the geographical, but also cultural bridge of between the East and West,” said President Aliyev. “Representatives of various religions and cultures have lived in Azerbaijan in the atmosphere of peace and brotherhood throughout the history.”

“Multiculturalism is lifestyle in Azerbaijan,” said President Aliyev. “Azerbaijan is a multinational country and 2016 has been declared the year of multiculturalism in Azerbaijan.”

President Aliyev pointed out that Azerbaijan is one of the few countries represented both in the Organization of Islamic Cooperation (OIC) and in the Council of Europe.

“Our countries successfully cooperate within these organizations. The trilateral cooperation format has great potential. This is a very important new initiative,” said the president.

The trilateral cooperation will serve for ensuring peace, security and stability in the region, said the president.

“The economic cooperation, the trilateral cooperation in transportation and energy will ensure the improvement of our peoples’ well being,” said the president.

This format will hold a rightful place on international arena, said the president.

“We showed an example of good neighbourliness today,” he said. “Today, we proved that if there is mutual respect, goodwill, if our wishes are sincere, we can protect our countries from risks in the unstable region full of crises and conflicts, strengthen the stability and intensify the cooperation.”

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