President Ilham Aliyev spoke at the 31st Baku Energy Forum.
He stated that countries should not be blamed for having oil and gas, as they are like any other commodity.
Every country uses what lies beneath its land or seabed for its development. Azerbaijan did exactly that at the dawn of its independence.
The President emphasized: "Countries should be judged not by the presence of oil, but by how they use the revenues."
He highlighted the importance of investing revenues in national development, better living conditions, and green energy.
Azerbaijan was presented as a successful example of being open to international investments and pursuing a wise policy based on national interests.
Aliyev recalled the energy development beginning in 1994: "Back then, the country was in a difficult economic and political situation, 20% of territory was occupied, and there were 1 million refugees."
Poverty exceeded 50%, unemployment was widespread. The only way forward was to use natural resources.
Azerbaijan was the first country to open Caspian reserves to international oil companies. Today, revenues are invested in social infrastructure, education, healthcare, and energy sector development.
The President noted that this experience should serve as an example for countries facing similar challenges.
