Delivering keynote speech at the event USACC Co-chairman James Baker noted that Azerbaijan had already became the main energy supplier for Europe, 1 mln barrel of oil is produced in the country every day. At the same time, development is also observed in non-oil sector of Azerbaijan; “Even during the global crisis period, Azerbaijan showed a positive dynamics, volume of export rose 45%, currency reserves made $22 bn, 100 thousands new work places were opened. Nevertheless, Azerbaijan is seeking new opportunitiesâ€.
Finance Minister Samir Sharifov spoke about the economic development of Azerbaijan. He noted that in the first decade of the twenty-first century, the country’s economy has developed rapidly: “The Azerbaijani economy is developing rapidly since 2003, GDP increased by 3 times, the poverty rate declined from 49% to 10%, there is a strengthening of the national currency, gold reserves reached $35 bn, public debt has decreasedâ€.
To him, in 2010, the economy of Azerbaijan has invested more than $ 15 billion, of which 60% fell on the government.
The Minister spoke about the Baku-Tbilisi-Ceyhan oil pipeline, Baku-Tbilisi-Erzurum gas pipeline, and noted the successful implementation of the Baku-Tbilisi-Kars: “Within the project, Azerbaijan has already provided a loan to the Georgian side to build, it will provide additional funds of Georgia for construction of 150 km roadâ€.
At the end of his speech Sharifov said that in 2010 the trade turnover between Azerbaijan and the U.S. totaled 2.3 billion dollars.
It should be noted that the meeting will continue the sessions on various topics, such as "Beyond oil exports", "Advanced Technologies in Azerbaijan: a new economic boom?", "Financing the future development of Azerbaijan and investments", "New Realities of Energy of Azerbaijan", etc..
The Conference has been shut down today.
US-Azerbaijan business and investment conference kicks off in Baku - PHOTOSESSION
03 June 2011 11:45 (UTC +04:00)
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