Head of the state noted that there was anarchy, chaos, civil war in the first years of the independence and lands were occupied: “In this case Azerbaijan was a dangerous country for foreign investors. In this time, our people invited Heydar Aliyev, elected as president and the country started to develop. Stability was ensured within a few years. The economy had collapsed at that time and there was not any prospectus for development of economy. Without economy, no country may be independent. Today, we have our financial resources and raise our voice as an independent country. At that time, Azerbaijan was a dependent country, we had no money, and economy was dependent. We once more see importance of Heydar Aliyev’s oil strategy. The Contract of the Century signed in 1994 is a historical event. Without that contract and oil and gas projects Shahdeniz and the Southern Gas Corridor would not exist. If we had not money, no one would have invested in the SGC. We invested $1 billion in this project. We directed the funds from oil and gas sector to human capital”.

President Ilham Aliyev said that work is underway to extend the contract on Azeri-Chirag-Guneshli: “Now, we are at the final stage of the negotiations with foreign partners. These fields still have a large volume of reserves. The contract on Shahdeniz was also signed in one of these exhibitions”.

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