BAKU, Azerbaijan, Nov.25
By Leman Zeynalova – Trend:
Switzerland sees potential in strengthening its ties with Azerbaijan in the field of energy, Swiss State Secretariat for Economic Affairs (SECO) told Trend.
This applies in particular to energy efficiency and renewable energy sources, said SECO.
“We also support the Southern Gas Corridor as it contributes to energy security and diversification. The Swiss company AXPO holds a 5 percent interest in the TAP pipeline, which is part of the Southern Gas Corridor,” said the Swiss State Secretariat.
“At the same time, Switzerland supports Azerbaijan on the Extractive Industries Eurasia Knowledge Hub. The objective of the project is to contribute to turning natural resource wealth into sustainable development through capacity building of government officials, the civil society, journalists as well as members of parliament. The goal is to support a transparent and accountable management of the revenues from the extractive industries.”
SECO said that in the framework of its international cooperation, the Swiss State Secretariat for Economic Affairs is engaged to support macroeconomic stability and the development of the private sector in Azerbaijan, thus aiming at contributing to the diversification of the economy as well as supporting the mitigation of the pandemic’s impact.
“Swiss support is geared towards strengthening the national systems, i.e. the economic framework conditions, and enhancing the access to finance, i.e. in the agricultural sector. One of the aims is to contribute to reducing inequalities and fostering a diversified and sustainable economic development. We hope that such support will enable the government of Azerbaijan to develop the country and bring sustainable prosperity to all inhabitants in the country,” said SECO.
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