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Azerbaijan plays an important role in providing South-East Europe with energy sources

7 December 2023 15:06 (UTC+04:00)
Azerbaijan plays an important role in providing South-East Europe with energy sources
Abbas Ganbay
Abbas Ganbay
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Azerbaijan plays an important role in providing South-East Europe with energy sources, Azernews reports, UK Export Minister Lord Malcolm Offord telling at a meeting of the Joint Intergovernmental Commission on Economic Co-operation between the Government of the Republic of Azerbaijan and the Government of the United Kingdom of Great Britain and Northern Ireland.

"I am pleased to hear of positive steps to build investor confidence in other areas since the fifth meeting of the Commission in May this year. Intergovernmental working groups on customs and taxation have helped make bilateral trade and investment more regular, fast and transparent. it is time to take trade relations to a new level, including in the renewable energy sector," the minister said.

It should be noted that Azerbaijan started gas supplies to Europe through the Southern Gas Corridor on 31 December 2020. Azerbaijan plans to export 12 billion cubic meters of gas to Europe this year. In July 2022, Azerbaijan and the EU signed a memorandum on cooperation in the energy sector, which provides for an increase in gas transportation through the Southern Gas Corridor from 10 billion cubic meters to 20 billion cubic meters per year by 2027.

The sixth meeting of the Joint Intergovernmental Commission on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the United Kingdom of Great Britain and Northern Ireland started in Baku today.

The meeting will discuss the business environment, energy transition, healthcare, infrastructure, information and communication technologies, cyber security, digital economy and other sectors of cooperation between the two countries.

It should be noted that the Commission is co-chaired by Azerbaijani Energy Minister Parviz Shahbazov and British Minister of State for Export Affairs Lord Malcolm Offord.

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