BAKU, Azerbaijan, September
25. Azerbaijan prioritizes the development of
long-term partnerships based on trust, the strengthening of
inter-regional ties, and the creation of new economic value through
these connections, Minister of Economy Mikayil Jabbarov said at the
2nd Azerbaijan International Investment Forum held in Baku today,
Trend's
correspondent reports from the event.


The minister noted that businesses and governments are currently
re-evaluating investment directions, priorities, trade partners,
and reliable relationships.


"We are meeting at a time when globalization is changing its
form. Cost and efficiency remain important. However, partner
reliability and supply chain resilience are carrying greater weight
in the adoption of economic decisions and policies," Jabbarov
emphasized.


According to him, the pandemic, disruptions in transportation
and supply chains, and ongoing geopolitical tensions over the past
six years have demonstrated that even events occurring far away can
rapidly impact local production.


"Tariffs, subsidies, and export controls are increasingly
influencing the positioning of strategic industries within the
competitive landscape. Everyone is seeking resilience. This is
natural. However, resilience comes at a cost. The duplication of
supply chains and restrictions on technology access often drive up
production costs," the minister explained.


Jabbarov announced that the role of small economies—which have a
vested interest in keeping international cooperation and trade
open—is steadily growing.


He noted that while governments cannot eliminate all external
risks, they can make their policies more predictable and
demonstrate respect for the commitments they have undertaken.


"It’s precisely in this area that we have chosen to build trust.
We believe that trust is grounded in concrete evidence," Jabbarov
also said.







The minister highlighted Azerbaijan's track record in fulfilling
long-term commitments as a key indicator of the trust placed in the
country. The Contract of the Century, signed in 1994 with a
consortium of leading international energy companies on the
initiative of National Leader Heydar Aliyev, established a model of
strong cooperation between Azerbaijan and leading global energy
companies," he mentioned.


Jabbarov also highlighted Azerbaijan's contribution to regional
and global energy security.


"For over three decades, by working shoulder-to-shoulder with
our partners, we have not only contributed to our own country's
socio-economic development but have also acted as a reliable energy
supplier for many countries within the region and beyond," the
minister emphasized.


According to him, Azerbaijani gas is currently supplied to 16
countries, 10 of which are European Union members.


"This makes Azerbaijan one of the leading suppliers of pipeline
gas in our geographic region. The number of countries to which
Azerbaijan supplies oil and oil products is even higher," Jabbarov
added.


The minister also noted that the continuity of investments and
reinvestments is also a significant indicator of confidence in the
country.


"Long-term partnerships continue to generate new investments and
reinvestments. The majority of foreign companies operating in our
country choose to reinvest their earnings in
Azerbaijan—specifically in the renewable energy sector, alongside
traditional energy production," he concluded.