TODAY.AZ / Business

Azerbaijan seeks Japan's assistance in rehabilitating Karabakh

23 February 2022 [15:56] - TODAY.AZ

By Azernews

By Sabina Mammadli

Azerbaijan has invited Japanese companies to actively participate in projects to restore Karabakh and the surrounding seven regions liberated from Armenian occupation in 2020, Trend has reported.

Ecology and Natural Resources Minister Mukhtar Babayev made the remarks at an event to mark Japanese Emperor Naruhit's birthday.

The restoration and construction work carried out on the liberated territories laid the foundation for the region to become a zone of peace, stability and cooperation, Babayev said.

The minister also stated that Japan and Azerbaijan are planning a variety of cultural events to mark the 30th anniversary of the establishment of diplomatic relations between the two countries this year.

"Currently, there are great opportunities to work in various sectors. In particular, the diversification of the energy sector is one of the main priorities," he noted.

Azerbaijan and Japan are cooperating in different fields of economy. Japanese companies in Azerbaijan work in the fields of oil and gas as well as agriculture. Last year the trade turnover between the two countries exceeded $200 million and the growth of this sector is forecasted to increase up to four times in the near future. In addition, Japan has invested $7.1 billion in Azerbaijan, during the entire period of cooperation between the two countries.

It should be also noted that 2022 will be the “year of friendship between Azerbaijan and Japan”. 

Additionally, earlier this year, Azerbaijan’s Energy Ministry and Japan’s TEPSCO company signed an agreement on the establishment of the “green energy” zone in the newly-liberated lands. The agreement envisages the effective use of renewable energy potential such as wind, solar, hydro, geothermal, and bioenergy on the liberated territories. It considers the establishment of a “green energy” zone based on modern energy management approaches to supply the region with energy.

URL: http://www.today.az/news/business/216088.html

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