Baku, Azerbaijan, Sept. 5
By Farid Rzayev - Trend:
Azerbaijan's high position in the competitiveness ranking of the World Economic Forum (WEF) is a result of the measures conducted in the economy, including the implementation of large-scale projects, Azerbaijani MP, member of the parliamentary committee on economic policy Ali Masimli told Trend Sept. 4.
Azerbaijan has improved its position in the global competitiveness rankings for 2014-2015, published at the WEF website. At present, it ranks 38th among 144 countries.
Azerbaijan has held a leading position among the CIS countries for six years. Azerbaijan is ahead of such leading oil-producing countries as Russia (53rd) and Kazakhstan (50th place) in this rating.
"The WEF is a reputable organization with 14,000 experts from 144 world's countries," he said. "Their rating is based on the macro-economic stability in the countries, the development of their financial and labor markets, the situation with the introduction of advanced technologies, increasing the innovative potential and competitiveness of the companies on the domestic and foreign markets."
"The further progress in the above-mentioned areas will allow Azerbaijan to further strengthen its position in the WEF rating," he added.
"Improving the position in the competitiveness ranking is explained by the stability of the economy of Azerbaijan," he said. "Azerbaijan has survived the global financial and economic crisis with minimal losses compared to other countries in the former Soviet Union. This factor also played an important role in achieving such a good result."
He added that a high position in the competitiveness ranking will have a positive impact on the assessment of the country by other influential organizations, in particular, on Azerbaijan's sovereign rating and the rating of borrowing.
"Improving the competitiveness ranking positions will have a positive impact on the conditions of long-term lending of Azerbaijan by foreign investors," Masimli added.
He also stressed that despite Azerbaijan's total high position in the competitiveness ranking, some indices, such as technical and technological indices are not ideal.
"Besides maintaining the macroeconomic stability, Azerbaijan must increase the innovative potential, to expand the sphere of using the new high-tech equipment and so on to strengthen its positions in the ranking in all indices," he said.
The top ten countries of the ranking include the U.S, Finland, Germany, Japan, Hong Kong, the Netherlands, Great Britain and Sweden. But Norway, Denmark, Austria, France, Belgium and Canada are outside the top ten countries. Joining the top thirty countries will be a good result for Azerbaijan in the near future.
Joining the top twenty countries seems more real in the medium term.
"A transition to an innovative model of economic development is required," Masimli said. "It is necessary to broaden and intensify the reforms in all spheres of public life and to pay attention to the improvement of human capital."