President Ilham Aliyev: Southern Gas Corridor project is of crucial importance to the region covering a wide geographic area

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    “The Southern Gas Corridor project is of great importance not only to Azerbaijan but also to a region covering a vast geography, including Europe,” said President Ilham Aliyev as he met with a delegation led by Executive Vice President and Chief Executive Officer of the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group Keiko Honda.

    The head of state underlined that Azerbaijan is a financially capable reliable partner and a country, which has always fulfilled its commitments, adding that the works on the TANAP project are being successfully implemented on schedule, and will be completed on time.

    President Ilham Aliyev said that this year the Azerbaijani economy entered a period of stabilization. “If we do not take into account the oil factor in our economy, we can see that non-oil sector grew by 2.5 percent, while non-oil industry increased by more than 3 per cent, and the agrarian sector by more than 4 per cent. Despite the fact that the drop in the oil prices negatively affected the gross domestic product (GDP), the non-oil sector accounted for 70 per cent of the GDP,” the head of state added.

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