President Ilham Aliyev: But for first oil contract signed in 1994, it would be difficult to imagine Azerbaijan’s economy

President Ilham Aliyev: But for first oil contract signed in 1994, it would be difficult to imagine Azerbaijan’s economy
# 02 June 2015 07:29 (UTC +04:00)

Baku. Ramiz Mikayiloglu – APA-Economics. “Holding of first exhibition in 1994 was very important and Azerbaijan has started to develop since that year. Azerbaijan had faced crisis in 1992-93, there was a crisis in the oil industry. The first exhibition held in 1994 introduced Azerbaijan to the world”, Azerbaijani President Ilham Aliyev said at the opening ceremony of the 22nd international Caspian Oil and Gas Exhibition and Conference.

Head of the State said that these exhibitions are demonstrating Azerbaijan’s energy potential to the world: “The exhibition is being attended by 300 companies. Interest in the exhibition has not reduced. Following the first Caspian Oil and Gas Exhibition in 1994, Azerbaijan developed oil strategy. But for first oil contract signed in 1994, it would be difficult to imagine Azerbaijan’s economy. Though Azerbaijan was considered as a risky country at that time, interests of both investors and Azerbaijan were coinciding. This provided Azerbaijan’s development”.

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THE OPERATION IS BEING PERFORMED