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TEAS advertorial in The House raises awareness of the rapidly-evolving UKâ€“Azerbaijani relationship at the LibDem Party Conference

20 September 2013 11:52 (UTC +04:00)

TEAS told APA that the UK remains the largest contributor of Foreign Direct Investment (FDI) to Azerbaijan, amounting to 44.1 per cent in the first quarter of 2013.

The article initially concentrates on the impact of the Contract of the Century in 1994, brokered by the current President Ilham Aliyev, when the BP-led Azerbaijan International Operating Company (AIOC) and the State Oil Company of the Azerbaijani Republic (SOCAR) decided on extraction agreements for Caspian resources. It then explains how the recently agreed Trans-Adriatic Pipeline (TAP) is set to take Caspian gas from the European border of Turkey to Italy, providing energy security for Western Europe.

The article concludes that Azerbaijan is an “economic powerhouse” and presents opportunities in many other sectors, including ICT, financial services and tourism, and that the “future looks bright” for UK companies in the “Land of Fire”.