President of Azerbaijan Ilham Aliyev addressed the 16th Summit of the Economic Cooperation Organization in Tashkent, the presidential press service reported.
Today, Ilham Aliyev has alsready met with President of Uzbekistan Shavkat Mirziyoyev. They posed for a group photo, after which the Azerbaijani leader addressed the summit.
Ilham Aliyev expressed his gratitude to Mirziyoyev for the warm hospitality, noting that a successful strategic partnership is developing between the two countries.
The head of state noted that Azerbaijan as an ECO member actively engages in the organization’s work. He recalled that the ECO Council of Ministers was hosted by Shusha last month and that Azerbaijan was celebrating the Victory Day on November 8.
the Azerbaijani presidential website
Aliyev stressed that Azerbaijan’s transport-logistics infrastructure is accessible to the ECO Member States. According to him, in recent years, Azerbaijan has invested billions of dollars in its transportation infrastructure: East-West and North-South Transport Corridors turned Azerbaijan into one of the transport and logistics hubs in Eurasia. The head of state noted that the construction of Azerbaijani sections of both corridors have already been completed, works are underway to expand the cargo handling capacities of the rail roads along these two corridors.
"In the last 20 years, more than $310 billion have been invested in Azerbaijan’s economy, around $200 billion of which being invested in the non-energy sector. This is an indicator of a good investment climate in our country," Ilham Aliyev said.
the Azerbaijani presidential website
He said that Azerbaijan has been chosen as a host country for the ECO Clean Energy Center. Aliyev noted that particular focus is placed on the development of renewable energy sector in Azerbaijan. In addition to its rich oil and gas reserves, Azerbaijan also has 37 gigawatts of onshore wind and solar power and 157 gigawatts of wind energy potential in the Azerbaijani sector of the Caspian Sea.
"In the near future, Azerbaijan will also turn into a green and hydrogen energy exporter. The contracts and Memorandums of Understanding signed with the foreign investors - the leading green energy companies of the world, will enable Azerbaijan to produce renewable energy up to 10 gigawatts in the coming years," Ilham Aliyev said.
He recalled that this October, the 230-megawatt Garadagh Solar Power Plant was inaugurated in Azerbaijan - the largest solar power plant in the Caspian and the Caucasus regions.
The president stressed that from 2021 to 2023, hydropower plants with the capacity of 170 megawatts have been built in the liberated territories. He added that by the end of 2024, the plants are expected to generate 270 megawatts of electricity and within couple of years - 500 megawatts.
In conclusion, the head of state said that Azerbaijan is determined to further strengthen bilateral and multilateral cooperation with the ECO Member States, and expressed readiness to host the next ECO Summit.
