“According to the UN calculations, Azerbaijan rates the top places in economic investments,†he added.
The UN Resident Coordinator, Bruno Pouezat, noted that the BSTIP will play an important role in formation of capital flow in the region.
“Capital flow is not satisfactory in the BSEC area. The capital influx is directed to energy and infrastructure projects here,†he noted.
Lovita Ramguttee, UNDP coordinator for the Black Sea Trade and Investment Promotion Program, said that the business potential for Azerbaijan is $8 billion in BSEC area while the current business is around $2.4 billion.
“The untapped investment potential is $5.5 billion. This program aims to support economic growth and regional economic relations though determining unused investment and trade potential,†she underlined.
The BSTIP will be implemented in four phases. /APA-Economics/
Presentation of Black Sea Trade and Investment Promotion Program delivered in Baku
12 June 2007 12:44 (UTC +04:00)
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