UK hails Azerbaijan’s crucial role in providing energy sources for southeastern Europe
Azerbaijan plays a crucial role in providing energy sources for southeastern Europe, said UK Parliamentary Under-Secretary of State for Exports Malcolm Offord.
Offord made the remarks during a meeting of the Joint Commission on Economic Cooperation between Azerbaijan and the UK in Baku on Thursday, News.Az reports.
“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 tax issues have helped make bilateral trade and investment smoother, faster and more transparent,” he said.
“Now it is time to take our trade relations to the next level by removing the barriers that hamper our economies, not least in the field of renewable energy,” the UK minister added.
Azerbaijan started supplying gas to Europe through the Southern Gas Corridor on December 31, 2020. The country plans to export 12 billion cubic meters of gas to Europe through this route in 2023.
Azerbaijan and the EU signed a memorandum of cooperation in the energy sector in July 2022, which envisages an increase in gas supplies through the Southern Gas Corridor from 10 billion cubic meters to 20 billion cubic meters per year by 2027.
The 6th meeting of the Joint Commission on Economic Cooperation between the Government of Azerbaijan and the Government of the United Kingdom of Great Britain and Northern Ireland started today in Baku.
The meeting will address the issues of cooperation between the two countries in business, energy transition, healthcare, infrastructure, information and communication technologies, cybersecurity, digital economy and other fields.
The commission is co-chaired by Azerbaijani Minister of Energy Parviz Shahbazov and UK Parliamentary Under Secretary of State in the Department of Business and Trade Malcolm Offord.