Baku. Ramiz Mikayiloglu – APA. “TANAP and TAP will deliver gas to Europe from a new source. According to preliminary calculations, $45 billion is expected to be spent for these purposes. Azerbaijan is the largest investor in TANAP. Azerbaijan is pursuing a sound policy and providing financial resources”, said President of Azerbaijan Ilham Aliyev addressing the opening of the 21st Caspian International Oil & Gas Exhibition at Baku Expo Center, APA reports.
The Head of State said that oil and gas revenues are aimed at improving the people’s welfare and implementing infrastructure projects: “Transparency is our priority. We were not able to collect as much money without ensuring transparency. We spend funds on the internal projects to improve the people’s welfare and on the implementation of global projects such as TANAP and TAP. Shah Deniz-2 will further ensure our sustainable development. Hundreds and thousands Azerbaijani companies will work as contractors, tens of thousands jobs will be created and non-oil sector will boom. Azerbaijan's non-oil sector is growing annually at least by 9-10 percent; economic diversification is being ensured”.
The President noted that these successes are related with the signing of the Contract of the Century and the commencement of the exhibition: “We have managed to turn this into human capital. Investment in education, space industry and other spheres lead us to development. Our foreign debt is equal to 8 percent of GDP, unemployment rate – 5 percent. Azerbaijan ranks 39th for competitiveness index. But for rich oil and gas resources and their rational use we would have taken a lot of time to achieve such a development”.
President Aliyev recalled that the Shah Deniz-2 agreement was signed after last year’s exhibition: “I believe that we climb to new successes until the next exhibition.”
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