SOCAR and Asarel Energy signed “Joint Development Agreement” with Presidents of Azerbaijan and Bulgaria in attendance

On November 13, Ilham Aliyev, President of the Republic of Azerbaijan, met with Rumen Radev, President of the Republic of Bulgaria.

Initially, the “Joint Development Agreement” between SOCAR and Asarel Energy was signed in the presence of the Presidents of Azerbaijan and Bulgaria.

During the meeting, President Ilham Aliyev emphasized the significance of the signed document, noting its role in strengthening cooperation between the two countries.

The head of state expressed gratitude to the President of Bulgaria for attending COP29. President Ilham Aliyev highlighted that this event had already yielded effective results, particularly with significant advancements on Article 6 of the Paris Agreement regarding carbon credit trading, an issue that had seen no progress over the past decade.

Touching on the importance of COP29, the President of Bulgaria praised the excellent organization of the event. He emphasized that the outcomes achieved here would hold great significance for the future.

Rumen Radev expressed satisfaction with the successful development of bilateral ties.

They discussed new cooperation projects in renewable energy, noting that recent statements from international financial and banking institutions regarding a new financial target within COP29 offer significant optimism.