President Aliyev highlights $350 billion investment, energy leadership at 17th ECO Summit

At the 17th Summit of the Economic Cooperation Organization (ECO), held in Khankendi, Karabakh, President of Azerbaijan Ilham Aliyev delivered a comprehensive speech emphasizing Azerbaijan’s robust investment climate, energy leadership, and ongoing efforts to restore territories liberated from Armenian occupation.

“Our country enjoys a highly favorable investment climate. Over the past 20 years, nearly $350 billion has been invested in Azerbaijan’s economy, with half of this amount coming from foreign sources,” President Aliyev stated, underscoring the nation’s appeal to both domestic and international investors, Caliber.Az reports via local media.

He further highlighted Azerbaijan’s key role in regional energy security: “Today, Azerbaijan ensures the energy security of many countries and exports natural gas to 12 countries through various gas pipelines. We are among the global leaders in this regard.”

President Aliyev reaffirmed Azerbaijan’s active participation within ECO, adding, “Azerbaijan has always actively participated in the activities of the Economic Cooperation Organization (ECO). Our relations with ECO member states are successfully developing.”

Speaking about the significance of hosting the summit in Khankendi, he remarked, “Hosting today’s Summit (the 17th ECO Summit – ed.) in Khankendi, Karabakh, holds special significance.” He recalled previous major international events held in liberated territories, including “the Meeting of the ECO Council of Ministers held in Shusha in 2023, the first informal Summit of the Organization of Turkic States in 2024, and the trilateral Summit of the leaders of Azerbaijan, Türkiye, and Pakistan in Lachin this May.”

The President detailed extensive reconstruction efforts underway, stating, “Extensive restoration and reconstruction efforts are currently underway across all of Karabakh and East Zangezur, liberated from occupation.” He condemned the nearly three-decade-long Armenian occupation, which affected almost 20 percent of Azerbaijan’s territory, noting the ethnic cleansing and displacement of more than one million Azerbaijanis from their ancestral lands.

“We repeatedly warned Armenia and its backers that if Armenia did not voluntarily withdraw from the occupied territories, we would restore our territorial integrity by military means. Unfortunately, Armenia and its supporters did not take our warnings seriously, and as a result, they faced the consequences,” President Aliyev said.

Addressing the dangers left behind, the President recalled, “Armenia buried over one million mines in our territories. Since the Patriotic War, nearly 400 of our compatriots have been killed or seriously injured as a result of mine explosions.” He emphasized Azerbaijan’s ongoing commitment to rebuilding, adding, “Azerbaijan is now building new cities and villages in the territories devastated by Armenia.”

President Aliyev also highlighted the success of the Great Return Program: “To date, we have facilitated the return of former internally displaced persons to 16 cities and villages. Currently, over 50,000 people live, work, and study in the liberated territories.”

On the issue of Western Azerbaijanis deported from Armenia, the President stressed the importance of securing their rights. “Last month, we highly appreciate the unanimous adoption by all 57 member states of a resolution supporting the right of return of Azerbaijanis forcibly displaced from Armenia at the session of the Council of Ministers of the Organization of Islamic Cooperation held in Istanbul,” he said.

By Vugar Khalilov