The U.S signs an investment agreement with Azerbaijan


During the talks in the White House, the participants thought about ways to resolve the Armenian conflict.

Yesterday the White House signed an investment agreement for expanding commercial relations with the Azerbaijani President Heydar Aliyev who is paying his first official visit to the U.S. Eight billion dollars of the oil contact occupies the central place in the efforts aimed at the solution of the Armenian-Azerbaijani conflict. Pro-Armenian forces in Congress made a noise for doubting the neutrality of the Nagorno-Karabakh conflict. Because the U.S. has established strong relations with Azerbaijan which possesses rich oil deposits, nevertheless, they could not influence President Clinton.

As a result of three-hour talks in the White House, Aliyev and Clinton signed an investment agreement. Azerbaijani President Heydar Aliyev and Vice-President Al Gore took part of in the ceremony in which four big contracts were signed on the joint oil developments in the Caspian Sea.

Aliyev said that the contract cost of the agreement signed with the U.S. companies Chevron, Exxon, Mobil and Amoco is eight billion U. S dollars. After the negotiations with Clinton, Aliyev told reporters they have laid the foundation for the further development and expansion of economic relations between the two countries.

The bilateral investment contract guarantees the mobility of capital and profits between the U.S and Azerbaijan, a former Soviet republic, and protects the investments from uncompensated confiscation. The reason, which makes the U.S sign such a big contract is the attraction of the rich oil deposits in the Caspian Sea from the point of view of the development of energies and cooperation on transportation issues.

Aliyev said that the next step on the road, to improve economic relations has to be the abolishment of banning the direct economic support to the Azerbaijan government, which has been continuing for five years. Clinton promised to make efforts to repeal the ban.

The U.S. Congress applied the embargo to punish Azerbaijan for an economic blockade of Armenia and Nagorno-Karabakh. The legislators in the House of Representatives and Senate intend to mitigate the embargo in order to assist the establishment of democracy in Azerbaijan. The Armenian lobby in America exerts strong pressure in order to raise the embargo completely.

It becomes evident from the joint statement of Clinton and Aliyev after the talks that Azerbaijan must guarantee the highest autonomy status to Nagorno-Karabagh. And provide the safety of the Armenian population and other minorities in the Nagorno-Karabagh. In this case, Armenia and Azerbaijan must respect the inviolability of their borders. Aliyev confirmed that he had agreed with the proposals submitted by Russia, France and U.S. recently.

The statement says that working jointly with Azerbaijan for the exploitation of the oil resources of the Caspian Sea, the U.S. does not only help the development of Azerbaijan, but also increases the numbers of its energy supply sources and strengthens the security of the country. As it is confirmed in the Statement that the states of the Caucasus may fully realize their potentials only in conditions of peace.

The Washington Post,
August 2, 1999