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By Trend

Attracting major foreign investments, formation of favorable business climate are the main directions of Azerbaijan’s economic policy, says a congratulatory letter by Azerbaijani President Ilham Aliyev May 29, sent to the participants of the 25th International Caspian Oil & Gas Exhibition and Conference in Azerbaijan.

“I cordially greet you in connection with the opening of the 25th International Caspian Oil & Gas Exhibition and Conference in Baku, I wish you all good health and success in your work,” the Azerbaijani president said in his message. “This year the International Caspian Oil & Gas Exhibition and Conference, which is the most prestigious event in the oil and gas sector in the Caspian region, marks the 25th anniversary of its successful work.”

A traditional event, coinciding with the start of a new oil strategy, the basis of which was laid by the national leader Heydar Aliyev, is of great importance in the development of the oil and gas sector of Azerbaijan and the Caspian region, according to the president.

“Exhibitions and conferences held consistently since that time in Baku, play a special role in the implementation of strategic projects, initiated by our country, bringing attractive initiatives to the attention of international business circles, accelerating integration into the global economy and establishing global partnership,” Ilham Aliyev noted.

“Thanks to the correct economic strategy implemented through the effective use of internal potential, we have achieved the preservation of pace of the country’s development even in the context of global crisis that has openly manifested itself in a number of countries in recent years,” says the letter.

“As a result, the Azerbaijani economy demonstrated high resistance to the global crisis and managed to maintain the level of social development and the dynamics of economic growth. Presently, the work continues on expansion of the South Caucasus Pipeline project and the Shah Deniz Stage 2 project, which are part of the Southern Gas Corridor, as well as TANAP and TAP projects. The expansion projects of Shah Deniz Stage 2 and the South Caucasus Pipeline already near completion. The commissioning of a part of the TANAP project, which envisages gas supplies from the Shah Deniz field to Turkey, will be solemnly celebrated in the near future. In 2020, Azerbaijani gas will be supplied to Europe.”

At the present stage, when competition for control over major energy sources is growing globally, Azerbaijan, relying on favorable geographical location, natural resources and rich potential, is cooperating with other countries and well-known economic, financial structures and global companies, according to the letter.

“I believe that the prestigious event will be significant in terms of further deepening of relations and will contribute to determining the leading trends in the development of your activity for years to come,” Ilham Aliyev said.

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