Azerbaijan-US relations have not remained merely on paper. Several documents have been signed, while the signing of several others is planned, Deputy Foreign Minister Elnur Mammadov said during the panel session titled “Middle Corridor: Unlocking Trade, Industry and Connectivity Potential,” held as part of the Second Azerbaijan International Investment Forum, APA reports.
He said that the Strategic Partnership Charter signed during the US Vice President's visit to Azerbaijan in February this year provides a broader framework for this cooperation: “In June this year, we held the first Azerbaijan-US economic dialogue. This dialogue marked the beginning of transforming that framework into practical cooperation. As part of the Azerbaijan-US economic dialogue held in early June, American companies finalized a number of important agreements. As we build a strong combination of strategic commitments, the common task ahead is to turn this momentum into sustainable commercial partnerships.
At the same time, cooperation documents on critical minerals, digital infrastructure and the country's culture were also prepared within the framework of the dialogue. To demonstrate that these have not remained merely on paper, let me give some examples of concrete agreements signed several months ago. A Memorandum of Understanding was signed between Exxon and Azerbaijan on the integration, development and production of unconventional onshore oil resources.
Work is also underway to prepare a framework agreement on securing the supply of critical minerals, as well as their extraction and processing.
US company Holstein Resources will explore potential cooperation and investment opportunities in existing and new gas fields, as well as infrastructure projects, services and other areas. J.P. Morgan is expanding long-term cooperation in financing strategic projects and increasing SOCAR's access to long-term financial resources. SOCAR and Chevron will conduct a joint technical study to assess the oil and gas potential of Azerbaijan's sector. Our cooperation with Apollo Capital Management is aimed at expanding cooperation in energy financing. Cooperation on the development of artificial intelligence and quality infrastructure is also planned. Memoranda of Understanding have been signed within the framework of cooperation with companies such as Microsoft and Oracle. The memorandum signed with Lumos Technologies has created a framework for cooperation in the oil refining and petrochemical sectors. These are just a few examples.
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