The Azerbaijan Energy Regulatory Agency and the Energy Markets Regulatory Authority of the Republic of Turkey signed a cooperation protocol. The document was signed during an online meeting between Azerbaijan and Turkey today to expand cooperation in the field of energy regulation.

The meeting was attended by the President of the Energy Regulatory Authority of the Republic of Turkey Mustafa Yilmaz, Vice Presidents Haji Ali Ulutas, Hamdi Notichi and other officials of the organization, and Azerbaijan was represented by the Chairman of the Board of the Azerbaijan Energy Regulatory Agency Samir Akhundov, Deputy Chairman Rovshan Ismailov, Ramin Babayev as well as other representatives. 

Opening the meeting, President of the Turkish Energy Markets Regulatory Authority Mustafa Yilmaz mentioned that the organization has been operating in the Turkish energy market for 19 years. Saying that Turkey has always supported Azerbaijan, Mustafa Yilmaz also mentioned that Azerbaijan will be provided full support to develop cooperation with the energy regulator in all areas and establish close business ties.

On the other hand, the chairman of the board of the Azerbaijan Energy Regulatory Agency Samir Akhundov greeted the Turkish delegation and thanked the Turkish people for the support of the brotherly Republic of Turkey to Azerbaijan from the first day of the Azerbaijani Army's counter-offensive to liberate the occupied lands.

Emphasizing that energy security is one of the most important elements of Azerbaijan's economic security, Samir Akhundov noted that relations between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Energy and Natural Resources of the Republic of Turkey have been developed very successfully.

"The purpose of the meeting is to lay the foundation and develop cooperation between the two institutions, as well as to get acquainted with Turkey's experience in the field of energy and utilities, competitive energy market, energy efficiency, as well as an exchange of experience in this field. We hope that the cooperation will contribute to the realization of priorities in the common interest and the implementation of reforms in the field of energy regulation", said the Chairman of the Board.

The protocol on cooperation between the AERA and the Energy Markets Regulatory Authority of the Republic of Turkey reflects the issues of creating a stable regulatory framework for the supply of electricity and natural gas, seminars on the development of the energy market, bilateral relations, training, exchange of specialists and experience, as well as cooperation with national, regional and international organizations in terms of creating regional energy markets.

The document also envisages the promotion of bilateral consultations with the Turkish Energy Markets Regulatory Authority on the development of energy regulation and the further expansion of bilateral relations.

During the meeting, Mehmet Kurkcu, Head of the International Relations Department of the Turkish Energy Markets Regulatory Authority, made a presentation on the Turkish Energy Regulator and gave detailed information about the organization's activities.

The meeting participants were informed about the activities of the AERA.

The presentation of Fariz Shirinov, Head of AERA's Legal Support and Analysis Department, covered the Agency's activities, important draft laws and regulations prepared by the regulator, the project implemented with the support of the European Bank for Reconstruction and Development, and information on international cooperation.