DUSHANBE, August 14, Asia-Plus -- TrendCapital – Tajikistan and Azerbaijan have reached an agreement on cooperate in the gas-and-oil sector, Azeri news agency TrendCapital cited Tajik President Emomali Rahmon as remaking at a news conference in Baku, Azerbaijan, Monday following negotiations between the governments of the two countries.   

According to him, Tajikistan and Azerbaijan intend to increase a two-way trade between them to $500 million per year in the coming five years.  In 2006, the trade between Tajikistan and Azerbaijan was estimated at $131 million.  

Speaking to journalists, Azeri President Ilham Aliyev said that his country decided to participate in the investment projects in Tajikistan.  “We have firm determination to take part in investment projects in Tajikistan,” Aliyev said.  According to him, a decision was made  to send a group of experts from Azeri national oil company (The State Oil Company of Azerbaijan Republic or SOCAR) to conduct geological survey.  

Azerbaijan is also interested in cooperation with Tajikistan in other fields.  “Financial aspect does not cause any problem.  We have enough financial means and intensively work with international financial institutions.  The rating of Azerbaijan is growing. Therefore we can draw large financial means for investment projects.  I think the first results of the activities in this field will can be evident in near future,” Aliyev said.