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Azerbaijan steps away from oil, gas sector

Staff writer |
Pursuing the policy of developing the non-oil sector in order to ensure economic growth, Azerbaijan is increasingly focusing on the implementation of major projects not related to the oil and gas sector.

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Particular attention is paid to infrastructure projects, which are beneficial from both economic and social point of view, Trend news agency reported.

In particular, work on the North-South transport corridor, which aims to link the railways of Iran with the railways of Russia via Azerbaijan, has recently intensified.

Azerbaijani President Ilham Aliyev also emphasized this fact, speaking at the meeting of the CIS Heads of State Council.

The North-South project remained in limbo for a long time because the parties couldn’t resolve the issues associated with financing.

However, this overriding question for the project has been solved: Azerbaijan and Iran have agreed to finance the construction of Astara (Iran) – Astara (Azerbaijan) rail line and to connect the railways of the two countries. This gives hope for implementation of the project in the near future.

A large number of neighboring countries, such as Pakistan, India, Oman, has already shown interest in the project.

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