Foreign

Home page

Foreign

Deputy Minister of Economic Development Sevinj Hasanova: â€œThe main purpose of Azerbaijan is to become high-income country in next 10 yearsâ€

02 April 2012 11:29 (UTC +04:00)

Baku. Parvin Abbasov â€“ APA. The meeting of the Euronest PA Committee on Economic Integration, Legal Approximation and Convergence with EU Policies was held within the second ordinary session of Euronest Parliamentary Assembly in Azerbaijani Parliament. APA reports that deputy minister of the Economic Development Sevinj Hasanova informed about the current relations of Azerbaijan with the EU and economic development of the country over last years.

She noted that 8 twinning projects was finished within the framework of cooperation, currently 7 twinning projects are being fulfilling and 6 twinning projects will be prepared: â€œUSD 120 billion have been invested in Azerbaijan since 1995 and half of this falls to foreign investmentâ€™s share. GDP increased by 3 times in Azerbaijan and the incomes of the state budgets by 13 over 8 years. Poverty level fell to 7,2% and in comparison to the last years it is very low indicator. Azerbaijan establishes trade relations with the EU countries for providing of competitive and transparent cooperation. Currently, about 650 companies of Azerbaijan are functioning in 27 countries of the world. The private sector also develops in the country. But Azerbaijan still has some problems. Occupation of 20% of the Azerbaijani territories and existence of 1 mln refugees and displaced people negatively impact on the countryâ€™s economy and development of the region. The main purpose of Azerbaijan is to turn into high-income country from middle-income one in the next 10 years.â€