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Azerbaijan will learn Israelâ€™s lesson in building innovation economy

04 September 2009 13:15 (UTC +04:00)

Baku. Aynur Veliyeva - APA-ECONOMICS. Azerbaijanâ€™s Minister of Communications and Information Technologies Ali Abbasov has met with the newly appointed Israeli Ambassador to Azerbaijan Michael Lavon-Lotem.

The ambassador said IT products account for 70% of his countryâ€™s exports and expressed his satisfaction that Azerbaijan gives priority to the development of ICT sector, said the ministry in a statement.

He added that Israel is willing to share its know-how with Azerbaijan in the development of ICT sector.

According to him, Israeli companies are successfully operating in Azerbaijan, and an intergovernmental agreement signed during Israeli Presidentâ€™s recent visit to Azerbaijan will play a big role in ICT cooperation.

Ali Abbasov said that Israel is one of the leading countries in the ICT sector and that Azerbaijan will use the Israelâ€™s experience in building an innovation economy which is based on intellectual capital, and the ability to translate ideas into new technologies, products and services faster and better than the competition.