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President Ilham Aliyev: â€œIn the early years of independence, the share of private sector in Azerbaijanâ€™s economy was zero, but today it makes 85%â€

09 April 2013 07:42 (UTC +04:00)

Baku – APA-Economics. On April 8, the final working dinner was organized for the World Economic Forum (Davos Forum) in Baku, APA-Economics reports.

President of Azerbaijan Ilham Aliyev and his spouse Mrs. Aliyeva attended the event.

Founder and Executive Chairman of the World Economic Forum Klaus Schwab expressed his gratitude to the head of state for the excellent organization of the Baku forum. He noted that Azerbaijan has made a really big achievement under the leadership of President Aliyev. And this will be further continued.

BP’s Regional President for Azerbaijan, Georgia and Turkey Gordon Birrell said that the Baku Forum had very important discussions. Stressing that BP-Azerbaijan partnership is 20 years old, he said that this cooperation is based on effective dialogue and mutual trust. He stressed that due to the political stability in the country, no changes were made in the signed agreements, so far.

Vice-president of the Russian Direct Investment Fund Peter Sannikov noted that the working group, of which he is a member, held interesting discussions on large investment projects, features that prevent the investments and other pressing issues.

The Duke of York, Prince Andrew noted the importance of the online exchange of views on the increased use of advanced technologies, particularly the use of broadband telecommunications and the Internet, as well as the promotion of entrepreneurial opportunities.

Chairman of the State Customs Committee of Azerbaijan Aydin Aliyev noted that the current debate focused on the issues on expansion of transit traffic in the region, investment in road infrastructure and logistics, as well as enhancement of the fight against drug trafficking and smuggling.

Azerbaijani President Ilham Aliyev made a speech at the event.

The President stressed that political leaders and representatives of the business community held business discussions at the forum. Along with this, President stressed the importance of the forum in terms of informing participants about the processes taking place in Azerbaijan, production and transportation of the Caspian energy resources. Briefly analyzing the history of independent Azerbaijan, the President said: “In 1993, we addressed friendly states on investing in the country, and thanks to their assistance, Azerbaijan began to use its oil and gas potential. After that, oil revenues have been directed to the development of non-oil sector”.

President Aliyev said that in the early years of independence, the share of private sector in the economy was zero, but today it makes 85%. The Head of State spoke about the role of the major projects implemented through the effective cooperation with BP and other leading companies of the world in the country's development. Aliyev said the gained income is spent on human capital - on youth and education. Significant investments are directed to the air, sea, rail transport of the country with a favorable geographical location. Noting that in general, these projects are focused on the welfare of the peoples of the region, President Aliyev reiterated that Azerbaijan attaches importance to the regional ties.

Minister of Foreign Affairs of Mongolia Mr. Luvsanvandan Bold noted the importance of the World Economic Forum. Touching upon the economic diversification in his country, he noted that Azerbaijan's experience in this area deserves attention.

Lithuanian Prime Minister Algirdas Butkevicius touched on the relevance of the discussed topics. Feeling proud of participating in the forum, PM said that Azerbaijan organized the event worthily.

Thanking the President Aliyev for the excellent organization of the event and the hospitality, the Albanian Prime Minister Sali Berisha expressed great respect for Azerbaijan’s implementation of important regional projects, in spite of the lack of stability in the region. Berisha spoke about Azerbaijan's important role in global energy security.

Managing Director and Member of the Managing Board, World Economic Forum Børge Brende stressed that very important information was given during the forum about the economies of regional countries.

Speaking about the success of Azerbaijan’s economy, Brende said this was achieved under the political leadership of President Ilham Aliyev. He expressed confidence that the Baku forum would contribute to the prosperity of the economies of the South Caucasus and Central Asia.