CEAS of Henley Business School and Khazar University host Workshop for young Researchers
24 February 2015
Monday 16th to Friday 20th February 2015
Baku, Azerbaijan - Venue: Khazar University
Mehseti str., 41 (Neftchilar Campus), Marble Hall
Delivering sustainable economic development in resource – rich countries:
Ukrainian Crisis: Risks and Opportunities for Azerbaijan as Energy supplier and for its sustainable development
The British Council Researcher Links Workshop for Early Career Researchers
The Participants of the Workshop in Baku, Azerbaijan
From 16 to 20 of February 2015 the Centre for Euro-Asian Studies of Henley Business School and Khazar University hosted the workshop for young researchers from Azerbaijan and the UK. The Workshop was supported by the British Council Researcher Links programme and was devoted to the delivering sustainable development in resource rich countries. The University of Reading and Henley Business School are very proud to be a recipient of such prestigious research grant from the British Council.
The Crimean crisis has revived fears within the EU over their dependency on Russian natural gas imports, and the reliability of Ukraine as a transit state. This is giving greater impetus to energy diversification projects across Europe, creating an opportunity for Azerbaijan to capitalize on its role as an alternative energy supplier at the head of the Southern Corridor energy route.
“While new opportunities may be opening, in order to emerge as an alternative sustainable energy supplier Azerbaijan needs to keep the economic development at the sustainable level, where fiscal sustainability will have a paramount importance to the future success. For Azerbaijan serious risks to fiscal sustainability are high in a medium to long-terms, influenced by the world oil price fluctuations and production level of crude oil. Azeri economy is now encountering the need to ensure permanent income and a sustainable fiscal policy based on the non-oil fiscal budget and the rapid depletion of oil and gas reserves in the country. In this respect, this workshop aimed to bring together internationally leading researchers, early career researchers and policy makers from the UK and Azerbaijan to share knowledge and research findings regarding revenue management, establishment of fiscal rules, and sustainable development in the resource rich Caspian Basin countries like Azerbaijan, in order to identify and formulate the alternative economic routes for Azerbaijan in order to become a viable energy supplier for the EU.”- said Professor Yelena Kalyuzhnova, coordinator of the project from the UK side.
Professor Ingilab Akhmadov of Khazar University, coordinator of the project from Azerbaijani side noticed that the workshop focused on both risks and opportunities for Azerbaijan provided by the Ukraine crisis, given country’s strategic location and energy resources. The workshop drawn recommendations and conclusions which would be required from the Azeri economy and the institutional setting in order to emerge in a stronger energy-export position in the coming months and years.
In her concluding remarks Elizabeth White Director of the British Council in Azerbaijan remarked “We were very pleased by the outcomes of the workshop”. Both partners hope to come up with the tangible final outcome such as a joint publication.