Aliyev: Azerbaijan aims to become major electricity supplier

Azerbaijan is seeking to expand its role as an exporter of energy and strengthen its position in regional trade and connectivity, President Ilham Aliyev said, noting the country’s broad range of energy exports.

Speaking at an event held as part of the 2nd Azerbaijan International Investment Forum, Aliyev said Azerbaijan exports oil, natural gas, oil products, petrochemicals and fertilisers, highlighting the country’s position as one of the few in the region with such a broad export portfolio, Caliber.Az reports via state media.

“We are one of the few countries in this region that export all of them. The export of electric energy, especially to the European premium market, will also strengthen energy security, connectivity, and interdependence,” Aliyev said.

He said Azerbaijan wants to further develop its electricity exports and strengthen its role in regional energy markets.

“We want to become a very important supplier of electric energy,” Aliyev said.

The president also outlined areas he said could be of interest to investors, including infrastructure serving multinational interests, transportation and logistics, as well as physical and digital infrastructure.

“What I think could be of interest is the infrastructure that serves multinational interests. And here comes, first of all, transportation, logistics, as well as physical infrastructure and software infrastructure. Because we can build a lot of bridges, piers, and vessels, but if we do not properly address the current trends with respect to digitalization and customs administration, and make the process of handling cargo easier and faster, then we will lose. Another is electric transmission lines. This also has a huge potential,” Aliyev said.

He also stressed the importance of human capacity for Azerbaijan’s sustainable development, saying that although the country can acquire technology through its financial resources, human capacity and accumulated experience remain crucial.

Aliyev noted that Azerbaijan’s literacy rate is close to 100% and said efforts in education were contributing to capacity building.

He also highlighted management experience developed in the oil and gas sector. Although the non-oil sector currently accounts for more than 70% of GDP, he said Azerbaijan was continuing cooperation with international partners to reduce the dominance of oil and gas in exports.

By Sabina Mammadli