New horizons: Azerbaijan, Albania ink economic cooperation agreement

An agreement on economic cooperation has been signed between Azerbaijan and Albania.

The agreement on economic cooperation was signed between the Government of Azerbaijan and the Council of Ministers of Albania. According to the document, the promotion of collaboration in priority projects between Azerbaijan and Albania is envisioned, including areas such as trade, investment, energy, transportation, infrastructure, agriculture, tourism, environmental protection, humanitarian efforts, and other directions.

A meeting took place between the Minister of Economy, Mikayil Jabbarov, the President of SOCAR, Rovnag Abdullayev, and the Deputy Prime Minister and Minister of Infrastructure and Energy of Albania, Belinda Balluku. During the meeting, the importance of developing relations with Albania was emphasised, highlighting the significance of high-level reciprocal visits and conducting negotiations to expand cooperation. It was noted that strengthening economic cooperation between the two countries holds a significant place in the context of bilateral relations. Therefore, the organisation of business trips, meetings, and various events is beneficial for the establishment of effective economic partnerships.

The meeting provided information about the favourable business and investment environment in Azerbaijan, opportunities created for investors, and highlighted the potential for strengthening cooperation with Albania in the fields of energy, trade, investment, industry, agriculture, tourism, transportation, and infrastructure.

The parties discussed opportunities for mutual business partnerships, investment, and the promotion of joint activities.

On March 1, the President of the Republic of Azerbaijan, Ilham Aliyev, held a one-on-one meeting with the Prime Minister of the Republic of Albania, Edi Rama, as well.

The meeting in question took place at the "Gulustan" Palace in Baku during the 10th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 2nd Ministerial Meeting of the Green Energy Advisory Council.

During the meeting, the President touched upon the friendly relations between Azerbaijan and Albania and emphasized the active cooperation of the two countries in various fields.

"We have quite an active political dialogue. Whether it is in Azerbaijan or Albania, or during various international events, we maintain a regular agenda for our meetings. We support each other in international organisations and actively work on energy security issues. Albania has played a significant role in the implementation of the Southern Gas Corridor project and continues to play an important role as a member of the TAP team. Currently, we are discussing various aspects of our energy cooperation. I am confident that, during our discussion today, the Prime Minister will cover all the current issues on the agenda."

The president specifically emphasises that Azerbaijan is a reliable partner.

"I believe that Azerbaijan has already proven itself to be a reliable partner. Our word is as valuable as our signature. I am confident that all the plans we have set for ourselves will be implemented because the performance indicators of the past year alone are evidence of this."

Historically, diplomatic ties between Azerbaijan and Albania have been generally positive. Countries often engage in cooperation across various sectors, including trade, investment, culture, and politics. Both nations may explore opportunities for collaboration in areas such as energy, infrastructure, tourism, and economic development.