BAKU, Azerbaijan, September 22. One of the
long-term goals is to assess the possibility of transforming
Azerbaijan into a regional hub for the processing of strategic
minerals, Economy Minister Mikayil Jabbarov said at a meeting chaired by President Ilham Aliyev dedicated to
the State Program on the development of the mining and
metallurgical industry.
According to the minister, there has been a significant increase
in prices for certain strategic metals over the past 10 years:
“Global demand for these metals is expected to continue growing
over the next 10 years. Demand is projected to increase by 23% for
aluminum, 21% for copper, 15% for zinc, and 10% for gold.
Azerbaijan has several opportunities and advantages in this regard.
We are located along the Central Asia–Europe corridor and, thanks
to your policies, play a key role. The Port of Baku and the
Baku–Tbilisi–Kars railway provide important logistical
capabilities. The Alat Free Economic Zone and our other industrial
zones offer additional opportunities.”
Mikayil Jabbarov emphasized that competitive energy prices are
also an important advantage for our country: “Furthermore, access
to the raw material potential of Central Asia and the South
Caucasus can expand Azerbaijan’s regional processing
capacities.”
The minister noted that as production increases, demand for
freight transportation and logistics services will rise, and new
opportunities will emerge for local contractors and suppliers.
“Expanding the local supply of raw materials and semi-finished
products will create the conditions for the development of new
industries. Demand for skilled personnel will rise. This will
accelerate the development of technical knowledge and skills and
contribute to our scientific potential. Most importantly,
employment and economic activity in the regions will increase. New
value chains will also create additional opportunities for private
investment and entrepreneurship,” Mikayil Jabbarov added.
To note, on September 22, President of the Republic of
Azerbaijan Ilham Aliyev chaired a meeting dedicated to the “State
Program on the Development of Mining (Metal Ores) and Metallurgical
Industry in the Republic of Azerbaijan for 2027–2030.”
