AZERBAIJAN – BRIDGING EUROPE AND CENTRAL ASIA
EUX.TV, Netherlands
June 8 2007
Hamburg (dpa) – Due to its significant oil wealth, Azerbaijan is of
high strategic importance among the former Soviet republics. The only
Caucasian country with a Muslim majority, it measures about 86,000
square kilometres and borders on Turkey, Iran and Russia.
Azerbaijan’s oil reserves are estimated at about 14 billion barrels,
and its economy has experienced rapid growth especially as a result
of investments by foreign oil companies.
In 2006, Azerbaijan’s economy grew by more than 34 per cent, and
experts have forecast an additional income of up to 175 billion US
dollars over the next 20 years.
Part’s of Baku’s 66,000-strong army are deployed in both Afghanistan
and Iraq, and on the Balkan.
The country joined the European Council in January 2001. However,
the former Soviet communist republic continues to lack the basic
elements of democracy.
Elections do not comply with international standards, Azerbaijan is
regularly placed at the bottom of international rankings for press
freedom and in the fight against corruption.
Since 1988, the country has been locked in dispute with Armenia over
the 4,400 square-kilometre enclave Berg-Karabach. The fate of the
almost 1 million Azerbaijan refugees is among the main issues the
country is facing.
From: Emil Lazarian | Ararat NewsPress
