Azerbaijan mulls promising areas of co-op with OPEC

Azerbaijan and the Organization of the Petroleum Exporting Countries (OPEC) have discussed the expansion of cooperation for the restoration and reconstruction of the Azerbaijani territories liberated from occupation, Report informs.

The issues were discussed at the meeting by Azerbaijan’s First Deputy Economy Minister Elnur Aliyev with Director General of the OPEC Fund for International Development Abdulhamid Alkhalifa within the 48th annual meeting of the Islamic Development Bank in Jeddah.

During the meeting, information was given on the national priorities of the socio-economic development of Azerbaijan until 2030 and the interest of Azerbaijan in cooperation with international financial institutions within the goals set was noted, the need to expand ties in the direction of developing priority sectors was emphasized.

The parties discussed the potential of the East-West and North-South transport corridors and the role of Azerbaijan as a transport hub, as well as renewable energy projects and support for SMEs.

At a meeting with the aim of developing bilateral cooperation, a high-ranking delegation of the fund was invited on an official visit to Azerbaijan.