US Companies Invested in Azerbaijan`s Economy More than $ 10 Billion - President Ilham Aliyev
US companies have invested more than 10 billion dollars in Azerbaijan’s economy, President Ilham Aliyev said, addressing the conference organized in Washington by US-Azerbaijan Chamber of Commerce, dedicated to the 25th anniversary of the establishment of diplomatic relations between the United States and Azerbaijan.
The Azerbaijani President noted that in general, the economy of Azerbaijan has been invested 200 billion dollars.
Aliyev said that Azerbaijan, due to support by the US and its partners, implemented geo-strategic projects such as the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Erzurum gas pipeline.
“Currently, we are working closely on the Southern Gas Corridor project, which will enhance the energy security of Europe,” the President of Azerbaijan said. -----71D
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- Social
- 2 March 2017 13:51
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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