"Greece is ready to sign agreements for natural gas supplies directly from Azerbaijan," Prime Minister Costas Karamanlis announced during an event at the Athens Chamber of Commerce and Industry (ACCI) on Tuesday, amid business contacts between Azeri and Greek entrepreneurs.

Karamanlis pointed out that new long-term cooperation will be opened with the establishment of a basic institutional framework, confirming the existing interest in increased transactions in other sectors besides energy.

"Our economies are complementary and not antagonistic," Karamanlis stressed and called on entrepreneurs to create joint ventures, pointing out that there are opportunities present and that both governments will offer assistance. He also underlined that the TGI pipeline is very important to Greece's energy targets. 

President of the Republic Karolos Papoulias referred to the notable prospects of bilateral cooperation beyond the sector of energy. He underlined that the four agreements signed this week will be the basis for dynamic development of bilateral relations in several economic sectors. Papoulias also accepted an invitation to visit Azerbaijan. 

On his part, Azerbaijan President Ilham Aliyev underlined that stability and peace in southern Caucasus is of major importance to his country and referred to the conflict in the Nagorno-Karabakh region.

President Aliyev also stated that oil production increased fivefold in recent years, reaching one million barrels a day, while more investment opportunities are being created in the sector of natural gas exports to the European Union via Greece.

He pointed out that a safe business environment will be established in his country, underlining that today 85 percent of the GDP comes from the private sector even though it is a relatively new state that started out with no private investments whatsoever. 

ANA-MPA / EPA file photo / PATRICK PLEUL