BAKU, Azerbaijan, October 30. Azerbaijan is the largest investor in Georgia, with investments totaling nearly $4 billion, Prime Minister of Azerbaijan Ali Asadov said at the 11th meeting of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Georgia.
According to the prime minister, trade and economic cooperation between the two countries is developing with positive momentum and is consistently expanding.
"Georgia is one of Azerbaijan's key trade partners. Over the first nine months of this year, our trade turnover increased by 42%, surpassing the total figure for the previous year and approaching $1 billion (Azerbaijani statistics: $888 million; Georgian statistics: $1.1 billion). Our cooperation in the investment sector is showing strong momentum.
The mega-energy projects we have implemented jointly (BTC, the Southern Gas Corridor) play a vital role today in ensuring energy security for the region and Europe, as well as in diversifying energy supply routes. Currently, Azerbaijani gas is exported to 16 countries. Our cooperation in the electricity sector is also developing successfully," he noted.
Asadov recalled that following a major incident in Georgia's energy system in July, Azerbaijan provided prompt support in response to a request from the Georgian side.
"Specifically, power exchange between the electricity systems was significantly increased and continues at this level. As a successful outcome of our cooperation in the field of green energy, our countries have now begun establishing a green energy corridor to Europe. This project will also serve as a crucial factor for Europe's energy security," he remarked.
According to the prime minister, the transport and transit sector is one of the most important areas of cooperation between the two countries.
"Our countries continue their joint efforts toward the development of the Middle Corridor. The operation of the Baku-Tbilisi-Kars railway, a vital component of the Middle Corridor, at its full potential, along with the increase in its cargo handling capacity to 5 million tons, stands as a clear example of our successful collaboration," Asadov added.
