UK eager to boost its presence in renewable energy market of Azerbaijan – British official (Interview) read full article at worldnews365.me

BAKU, Azerbaijan, December 29. The UK considers
power, infrastructure, agriculture, ICT, healthcare, in addition to
monetary {and professional} companies, as probably the most promising fields
of cooperation with Azerbaijan, Kenan Poleo, HM Commerce Commissioner
for Jap Europe and Central Asia, advised Trend in an unique interview.

“We have now recognized six sectors of the economic system that we need to
assist develop by way of our joint intergovernmental fee,” Poleo
stated.

In accordance with the commerce commissioner, the whole commerce in items
and companies between the UK and Azerbaijan from April 2021 by way of
March 2022 amounted to 1.1 billion kilos.

He famous that the principle exports from the UK to Azerbaijan embrace
know-how, engineering tools and oil equipment, and
companies.

“Over thirty years of bilateral relations, the UK has been the
single largest international direct investor in Azerbaijan. In 2021, we
agreed with President Ilham Aliyev that our focus going ahead
will likely be supporting Azerbaijan’s financial diversification,” he
stated.

Moreover, the UK is the primary worldwide companion to
help the work of the Azerbaijan Nationwide Company for Mine Motion
(ANAMA), clearing land mines in Azerbaijan’s liberated territories.
It is likely one of the most necessary packages that the UK Authorities is
supporting in Azerbaijan in the intervening time, Poleo added.

One other precedence within the Azerbaijani-UK cooperation is
renewables, and, because the commerce commissioner stated, the UK is glad to
see BP, its multinational oil and gasoline firm, increasing into
Azerbaijan’s renewable power sector.

“On this regard, we welcome the settlement on the implementation
of a 240 MW solar energy plant challenge in Azerbaijan’s Jabrayil
district, and sit up for its finalization,” he stated.

As Poleo famous, over the thirty years of bilateral relations,
the UK has been the one largest international direct investor in
Azerbaijan, whereas BP alone has invested $84 billion within the
Azerbaijani economic system.

“I additionally hope the Authorities will make the very best use of the
masterplan developed by BP, which incorporates suggestions and
proposals for decarbonization,” Poleo added.

The commerce commissioner believes that Azerbaijan has nice
renewable power potential, and that is the realm the place the
UK-Azerbaijan power cooperation ought to be expanded sooner.

“There are already over 40 British corporations with clear power
functionality on the bottom. They know the market and have the
experience to assist Azerbaijan ship its renewable power targets.
We have now hosted our first power transition convention, the place we
invited main corporations from the UK to discuss clear progress,
offshore wind and decarbonization. This clearly exhibits UK corporations
have an interest within the Azerbaijani market and are prepared to offer
their services and products every time and wherever wanted,” he
famous.

Furthermore, the UK is able to share its expertise in offshore
wind power deployment with Azerbaijan, Poleo stated.

“As a rustic with one of many largest put in capacities of
offshore wind on the earth and the most important pipeline of tasks in
Europe, we stand able to share the UK expertise of growing the
trade with Azerbaijan,” he famous.

He went on so as to add that the UK has additionally helped fund the offshore
wind roadmap for Azerbaijan which was launched collectively by the World
Financial institution and IFC in June this 12 months.

“We organized a go to to the world’s largest grid-connected
floating offshore wind farm in Kincardine for the Azerbaijani
delegation led by Minister Shahbazov later that month inside the
fifth session of the Joint Intergovernmental Fee between the
UK and Azerbaijan. The UK is dedicated to attaining internet zero
emissions by 2050 which signifies that we’ve got enhanced our
capabilities throughout a variety of renewable power applied sciences.
By means of our government-to-government power transition working
group and MoU we’re actively sharing the UK’s expertise to assist
Azerbaijan develop a thriving clear power sector, too,” he
stated.

Talking additional, Poleo famous that cooperation with Azerbaijan,
in addition to Central Asia, is a excessive precedence for the UK.

“I oversee commerce work throughout 14 international locations throughout Jap Europe
and Central Asia. Latest information exhibits a 44 billion kilos buying and selling
relationship between the UK and these 14 international locations. Central Asia is
a key a part of our success. That’s why we’ve lately invested extra
commerce assets into Kazakhstan and Uzbekistan the place suppose there’s
scope to do much more,” he stated.

Because the commerce commissioner famous, rising the capability of the
Trans-Caspian Worldwide Transport Route (TITR), which is considered one of
crucial transport routes for Azerbaijan and Central
Asia, is a precedence for the UK authorities for diversifying provide
routes from East to West.

In accordance with the commerce commissioner, the TITR, also called the
Center Hall, is necessary for the area’s economic system and its
significance after the Russia-Ukraine conflict began has elevated even
additional.

“It might turn into an alternate or supplementary transit route for
exports from China to Europe. The international locations of the area began
to work significantly on the rise of the potential for TITR. We
perceive that there’s a want for funding to develop capability
and deal with numerous administrative and technical bottlenecks alongside
the route, resembling integrating doc alternate and customs
programs of the route international locations, rising vessel capability to call
a number of,” he stated.

Poleo identified that this requires joint efforts of the
Trans-Caspian route international locations, and the UK is able to present the
required help whether or not it’s associated to digitization or capability
constructing for the ports, serving to safe financing, participating the
personal sector, or serving to optimize railways operations.

#europeannews #european_news

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