Azerbaijan, Japan mull energy cooperation

By Azernews

By Ayya Lmahamad

Azerbaijan's largest electrical power producing company Azerenergy and Embassy of Japan have discussed development of energy cooperation between the two countries.

During the meeting held on October 29, the sides discussed the current state and prospects of cooperation between energy systems of Japan and Azerbaijan and joint projects.

In particular, the issues of building a new power plant in Yashma through private investment were discussed.

During the meeting, ambassador noted that Japanese companies are also interested in renewable energy sources and construction of small hydroelectric power plants.

Head of Azerenergy stated that cooperation between Azerbaijan and Japan in the field of electricity has been successfully continuing for over 20 years, and that Japan is a reliable partner in this field.

Moreover, the parties exchanged views on the escalation of Nagorno-Karabakh conflict and shelling of civilians.

Earlier this month, Azerbaijan Economy Minister Mikayil Jabbarov and Japanese Ambassador Junichi Wada discussed potential for expanding cooperation between two countries in trade and economic sphere, transport and logistics, mining industry, agriculture, tourism, digital economy, public- private partnership and other spheres.

Japan earlier expressed its desire to invest $40 million in tobacco growing in Azerbaijan. Initial investment was made in tobacco, and a tobacco drying station has been built in Oguz region of Azerbaijan. In addition, funds are being invested for this purpose in Tovuz region.

It should be noted that the trade turnover between Azerbaijan and Japan amounted to $153.5 million during the period of January-September 2020. Of total turnover, export accounts for $2.8 million and import for $150.6 million.