Ilham Aliyev: Oil and gas make up 30 percent of Azerbaijan’s economy

Ilham Aliyev: Oil and gas make up 30 percent of Azerbaijan’s economy
# 10 October 2016 14:39 (UTC +04:00)

Baku - APA. Oil and gas currently make up 30 percent of Azerbaijan’s economy, said Azerbaijan’s President Ilham Aliyev.

The president made the remarks addressing the 23rd World Energy Congress in Istanbul, Turkey.

He said that Azerbaijan is working to reduce dependence on energy resources.

"Our energy policy enabled us to make investments in foreign countries. In the first years of our independence, Azerbaijan was dependent on foreign investment. We are now investing in foreign countries including Turkey, and we will continue this way,” said President Aliyev.

The president pointed out that Azerbaijan’s investments in Turkey amount to $20 billion.

“It is impossible not to take Azerbaijan and Turkey into account when discussing energy issues, because we do have energy resources and diversified export network. We organize our work based on mutual benefit,” he added.

President Aliyev said that Azerbaijan is pleased with Turkey’s development.

“To illustrate Turkey-Azerbaijan relations, I’d like to mention that Turkey could invite only one country to the G20 Summit. So Turkey invited Azerbaijan,” he reminded.

The president added that joint projects implemented by Azerbaijan and Turkey are continuing successfully.

“The Azerbaijan-Turkey friendship is permanent, eternal and indestructible,” he said.