"The active use of renewable energy sources, the attraction of private and foreign investments in this process, the transition to a liberal market model based on competition in the energy sector and, thereby, and the implementation of environmental commitments is one of the main tasks," Shahbazov said.
Further, the minister noted that choosing Baku for holding large-scale energy forums and conferences is linked with its historical and modern role in the 'energy architecture' of the world.
"In the historical context, Baku is the energy capital of the world, and in the modern times it is one of the leading energy centers," the minister said.
The minister noted that the development processes related to energy are not limited to national borders and require global cooperation.
Shahbazov praised the Energy Charter as one of the important platforms for cooperation, which contributes to global energy security by promoting the principles of sustainable development, creating an effective framework between the countries involved in the transit, import and export of energy resources.
According to the minister, an energy transformation is currently underway through the use of renewable energy sources.
The topic of the International Energy Charter Forum is “Enabling Energy Transformation through Technology and Policy Innovations”.
The four-session forum is dedicated to the development of renewable energy and technology, the use and regulation of renewable energy, the promotion of energy efficiency, the sharing of best practices and regional security experience.
The forum is attended by top ranking officials from 13 countries, including Azerbaijan, Turkey, Georgia, Austria, China, Greece, Albania, Croatia, Spain, Bangladesh, Bosnia and Herzegovina, Burundi and Yemen.
The event is also attended by representatives from 42 international organizations, local and foreign energy companies, public bodies, as well as diplomatic corps in Azerbaijan and about 200 experts and journalists.
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