Azernews.Az

By Sara Israfilbayova

Azerbaijan and Greece have the potential to expand cooperation in the tourism industry.

Greek Ambassador to Azerbaijan Nicolaos Kanellos made the remarks during the meeting with Economy Minister Shahin Mustafayev.

The Greek Ambassador stressed the importance of the Southern Gas Corridor project in terms of ensuring energy security and noted the expansion of ties, along with the energy sector, in other areas. Canellos underlined the significance of conducting research on promising areas and developing cooperation in these areas.

Shahin Mustafayev, in turn, noted the importance of investing and expanding trade ties and, in this connection, stressed the importance of developing cooperation between business circles and holding business forums.

He went on to say that cooperation in the spheres of agriculture, food industry, tourism, transport, with the industrial zones created in Azerbaijan and on the territory of the Baku International Sea Trade Port by the Free Trade Zone, is also expedient.

The minister touched upon existing economic ties and prospects for cooperation between Azerbaijan and Greece and noted that 11 Greek companies are registered in the country. The minister also mentioned the successful cooperation in the energy sector, adding that cooperation on the TAP project was continuing successfully.

The Southern Gas Corridor, worth $41.5 billion, is considered as one of the priority energy projects for the EU, which strives for diversification of gas supplies. The project envisages the transportation of gas from the Caspian region to the European countries through Georgia and Turkey.

At the initial stage, the gas to be produced as part of Stage 2 of development of Azerbaijan's Shah Deniz field is considered as the main source for the Southern Gas Corridor projects. Other sources can also connect to this project at a later stage.

As part of Stage 2 of the Shah Deniz development, gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans Anatolian Natural Gas Pipeline and Trans Adriatic Pipeline.

The first gas within the Shah Deniz-2 project will be delivered to Turkey in 2018, and to Europe in 2019.

The Hellenic Republic recognized independence of the Republic of Azerbaijan on 31 December 1991. Diplomatic relations between the two countries were established on 2 April 1992.

Both countries are full members of Council of Europe, the Organization for Security and Co-operation in Europe (OSCE) and the Organization of the Black Sea Economic Cooperation (BSEC).

Greece was the first European Union member country that wanted directly import gas from Azerbaijan. Both countries enjoyed recently developed close relations in trade, culture and economy.

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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is

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