Dublin:President Ilham Aliyev's participation in the Dublin summit has paved the way for new economic cooperation opportunities between Azerbaijan and Europe, according to MP Tahir Mirkishili. His engagements with European leaders on the summit's sidelines are pivotal in transitioning established political trust into tangible economic projects.
According to Azeri-Press news agency, the MP emphasized that major investments rely on long-term trust, with President Aliyev's direct dialogues with European leaders enhancing Azerbaijan's reputation as a reliable partner. The summit's agenda, which includes competitive economy, innovation, transport connectivity, and affordable energy, offers Azerbaijan new collaboration prospects. These include potential expansion in the energy sector through investments, involvement of European companies in logistics and industrial projects, and the introduction of technology and management expertise to the country.
Mirkishili further stated that the primary aim of this collaboration is to foster new production facilities, job creation, and growth in non-oil exports within Azerbaijan. He also highlighted Azerbaijan's potential to bolster its role in European energy security by supplying gas to 16 countries, including 10 EU member states.
The MP highlighted the significance of the Shah Deniz field's compression project for maximizing reserves and sustaining production, with the first gas anticipated in 2029. Long-term contracts with European buyers and financial institution participation are crucial for enhancing the Southern Gas Corridor's transmission capacity. Additionally, Azerbaijan's energy partnership could extend to green electricity, leveraging the Caspian-Black Sea-Europe Green Energy Corridor's potential.
Discussing transport and logistics cooperation, Mirkishili underscored the need for coordinated capacity among ports, railways, and Caspian Sea transportation. Enhancing competitiveness in the Middle Corridor involves streamlining border and customs procedures, expanding electronic documentation, and increasing tariff transparency. Establishing facilities at key route intersections could generate additional income beyond transit revenues.
Mirkishili expressed optimism about attracting European investment, noting that sustainable transport and digital connectivity projects in the Middle Corridor align with the European Bank for Reconstruction and Development's strategy for Azerbaijan. Clear project details regarding cargo base, profitability, and legal conditions are vital for investor attraction.
Looking ahead to the 2028 summit in Azerbaijan, Mirkishili stressed its potential as a platform for economic partnership and green energy cooperation. He advocated for early preparation of economic projects and forming a portfolio of ready-to-implement projects for European investors. Business and investment meetings preceding the summit are crucial, with political support at state and government levels needing to be bolstered by company, bank, and investment fund negotiations. The MP believes that coordinating agreements on green energy will enhance project financial attractiveness and that the 2028 summit's long-term benefits will manifest in these areas.