Dear Readers Of The CASPIAN ENERGY Journal !

A special issue of the CASPIAN ENERGY journal devoted to development of economic relations between Azerbaijan and the United Kingdom is going to see the light. The UK is known to be one of the leading countries that are actively investing in Azerbaijan. Our British partners have already invested over $1 billion in the economy of the country. Considering per capita, it must be the greatest investments of the UK committed abroad.

According to information I have at hands, only within the next four years British Petroleum is about to invest about $3 billion in petroleum projects. Simultaneously, British companies make huge profits from their activities in Azerbaijan. So, for example, various companies and firms of Great Britain have been awarded contracts estimating to be more than $500 million during the realization of the "Contract of the Century" (the Azeri-Chirag-Gunashli mega-structure. - C.E.).

Today the economy of Azerbaijan is developing dynamically. The substantial progress has been achieved first in energy branches of the country - oil and gas. Over the past 5-6 years, very serious steps have been taken in this direction.

There are also real achievements in such spheres as transport, agriculture, and others. However, we do not consider our potential was realized to the full. Therefore, I think that today the major task is to achieve the same results in the other spheres of our economy. Especially as, we have the great resources for this, particularly a primary base, a business vein of people, etc.

Today it needs to work actively. The main condition for achieving the progress is to improve favorable investment climate in the non-oil sector.

I hope that the special issue of CASPIAN ENERGY will give to reflect to the full today's situation in the investment sphere of the interaction of the two countries, and it will be a reliable guide for new economic decisions in future.

I wish all readers of CASPIAN ENERGY every success, welfare. We are glad to salute you in Azerbaijan and ready to bring essential assistance in setting business contacts in behalf of the following development and the strengthening of the UK-Azerbaijan ties.

Makhmud Mamedkuliyev

Deputy Minister of Foreign Affairs

of the Azerbaijan Republic