Minister: Azerbaijan is open to cooperation with France in building digital economy (PHOTO) (UPDATE)

Minister: Azerbaijan is open to cooperation with France in building digital economy (PHOTO) (UPDATE)

Details added (first version posted on 18:21)

BAKU, Azerbaijan, May 12


Azerbaijan’s goal is to build the digital economy and in this field, the country is open to cooperation with France, Azerbaijani Minister of Economy Mikayil Jabbarov said.

Jabbarov made the remark during a business meeting in the format of a webinar organized by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), the French Entrepreneurs Organization (MEDEF) and the Azerbaijan-France Chamber of Commerce and Industry, Trend reports.

“The organized event is a convenient platform for exchanging views on the prospects for cooperation between business representatives of the two countries,” the minister added. “Azerbaijan attaches great importance to international cooperation, including relations with France.”

“Our countries are determined to bring the partnership to a higher level, even during the global pandemic,” Jabbarov said. “From this point of view, the efforts of MEDEF and the Azerbaijan-France Chamber of Commerce and Industry to develop business relations between the parties are commendable.”

The minister informed the participants of the webinar about the reforms being carried out in Azerbaijan under the leadership of Azerbaijani President Ilham Aliyev, measures to liberalize the economy, create a favorable business and investment environment, a new bill being prepared in connection with investment activity with the participation of experts of the International Finance Corporation, a foreign direct investment promotion strategy, etc.

Talking about economic cooperation between Azerbaijan and France, the minister stressed that 65 French companies operate in various spheres of the Azerbaijani economy, including industry, energy, trade, services sector, agriculture and others.

“Our countries also successfully cooperate in the field of investments,” the minister said. “So far, Azerbaijan has invested $2.1 billion in the French economy while the French side invested $2.2 billion in Azerbaijan. French companies are participating in Azerbaijan as contractors in non-oil projects that are implemented through the state investments, the cost of which is estimated at $2.1 billion.”

Stressing the negative impact of the COVID-19 coronavirus pandemic, the minister emphasized that in terms of the global crisis and a sharp drop in oil prices, the world economy, in particular the economy of oil-producing countries faced new challenges.

Jabbarov said that the Azerbaijani government has promptly responded to the pandemic and the global crisis, and has taken systematic and operative measures to maintain macroeconomic stability.

The minister stressed that as a result of timely multilateral preventive measures taken under the leadership and direct control of President of Azerbaijan Ilham Aliyev, the cases of infection with coronavirus in the country were limited.

“To protect people's health and to reduce the impact of the pandemic on the national economy, an appropriate Action Plan has been approved,” Jabbarov said. “According to the plan, the measures are being taken to render financial support to entrepreneurs and hired employees involved in the spheres affected by the pandemic, to preserve jobs and strengthen social protection of the population.”

The minister said that one of the main goals in the Action Plan, along with ensuring economic stability, is the application of a new model of economic growth.

Azerbaijan’s GDP grew by 3 percent from January through February 2020, by 1.1 percent in the first quarter of the year, by about 7 percent in the non-oil sector in the first two months of the year and by more than 3 percent in the first quarter of the year. To form a stronger non-oil sector and reduce dependence on oil, Azerbaijan is pursuing a targeted policy to increase the economy's resilience to global impacts.

Currently, the global economy is in the process of digitalization, which promises new opportunities. Therefore, the digitalization of the economy has been set as a long-term goal.

Jabbarov emphasized that the goal of Azerbaijan is to build a digital economy and Azerbaijan is open for cooperation with France in this issue.

In this context, the creation of a branch of the Center for the Fourth Industrial Revolution of the World Economic Forum in Azerbaijan is of particular importance.

MEDEF Chief Executive Officer Philippe Gautier said that France attaches great importance to the development of ties with Azerbaijan and reminded the official visit of the delegation of his organization to Azerbaijan, the fact that the delegation was received by President Ilham Aliyev and First Vice President Mehriban Aliyeva, Azerbaijani-French business forum, as well as the signed documents.

Gautier emphasized that Azerbaijan has a favorable business and investment environment, the country is extremely attractive from the point of view of tourism, as well as a manufacturer of a number of competitive products. He also shared his views on combating the pandemic and expanding cooperation in various spheres of the economy.

During the meeting, other participants also expressed their views on the diversification and strengthening of economic stability in the current conditions of a sharp decline in oil prices and the spread of the pandemic, as well as regarding non-oil projects that may ensure economic stability and the issues of expanding cooperation with French companies.

During the webinar, discussions on the prospects of developing partnership in the banking and financial sectors, agriculture, ICT, introduction of innovations, transport and transit and other spheres were held. The ambassadors of Azerbaijan and France also took part in the meeting.

US-based IT Company EPAM  announces 14 vacancies in Georgia
US-based IT Company EPAM announces 14 vacancies in Georgia
Singapore ready to share with Uzbekistan experience in forming digital gov’t
Singapore ready to share with Uzbekistan experience in forming digital gov’t
Mobile phones and smartphones import down in Georgia
Mobile phones and smartphones import down in Georgia
Loading Bars
Armenian leadership should seriously think about it and take right step - President of Azerbaijan
There are periodical supplies of Armenian armed forces from base in Gumru - Azerbaijani president
Armenian prime minister must say that Azerbaijanis will return to Nagorno-Karabakh, including Shusha - President of Azerbaijan
Italy can play very important role in settlement of Karabakh conflict - President Ilham Aliyev
I regret that unfounded accusations come from the co-chair countries, says President of Azerbaijan
If Armenia publicly declares that they accept fundamental principles we will come to agreement very quickly - Azerbaijani president
If Armenia continues to disrupt ceasefire, we will be forced to respond adequately - Azerbaijani president
New government of Armenia has repeatedly stated that fundamental principles are unacceptable for it - President Aliyev
Auction on Ministry of Finance bonds placement held at Baku Stock Exchange
Armenia refuses to take bodies of its servicemen from battlefield - assistant to Azerbaijani president
Over the past day, Armenia has repeatedly violated humanitarian ceasefire - MoD
Armenia's statements about humanitarian ceasefire - nothing more than hypocrisy, says assistant to Azerbaijani president
India, U.S. sign key bilateral pacts
Armenia won't be able to withstand this war for long - Azerbaijani economic expert
Azerbaijani Foreign Ministry disseminates info on Armenia’s missile attack on Barda
Private houses greatly damaged as result of shelling of Azerbaijan’s Barda (PHOTO/VIDEO)
Azerbaijani army liberates 4 cities, 4 settlements and 165 villages within 1 month
Ukraine says energy sector, transport among priorities in co-op with Georgia
Kakhetian Traditional Winemaking of Georgia reveals volume of its sales
Georgia sees increase in berry exports
Turkmenistan boosts import of defense products from Turkey
Turkey says Uzbekistan minimizes import of its defense products
Azerbaijan unveils local insurers' nine-month payments
Hungarian airline WizzAir to open base at Georgian Kutaisi Airport next summer
Georgia's energy program continues as Tsalenjikha city supplied with gas
Azerbaijan determines national gymnastics team for Euro cup in Ukraine
Turkey's data says Kyrgyzstan lowers import of its defense products
Azerbaijani Prosecutor General's Office reveals those killed due to Armenia's attack on Barda
Children killed and wounded as result of Armenian Armed Forces’ missile attack
Armenia used cluster Smerch missile against civilians in Barda - Assistant to Azerbaijani president
Russia rises import of Turkish defense products
Turkish, Russian FMs discuss situation in Nagorno-Karabakh region
Kazakhstan reduces imports of defense products from Turkey
Turkey reveals 9M2020 data on cargo shipment via its ports from Egypt
Export of defense products to Italy falls - Turkish Trade Ministry
Iran ready to talk over joint water management on border with Azerbaijan
Number of killed in Barda raised to four as result of Armenia's missile attack - Assistant to Azerbaijani president
Expo Georgia to host agro exports forum in Online B2B Format
Toddler among killed as result of Armenia's missile attack to Barda - Assistant to Azerbaijani President
Turkmenistan, Kazakhstan aim to expand co-op in railway transportation
Turkmenistan, Afghanistan committed to dev't of bilateral ties
Casualties of Armenian military equipment since outbreak of hostilities in Karabakh named (PHOTO)
Armed 'religion servants': Armenian Сhurch calling for war (PHOTO)
Armenia resorts to war crimes attacking Barda with reactive missiles - Assistant to Azerbaijani president
Bank mortgage lending in Azerbaijan grows multifold
Azerbaijan to use Armenian tanks against Armenia (PHOTO)
Price of apartments in Tehran rises
Armenian Armed Forces shelling Azerbaijan’s Goranboy, Tartar and Barda districts
Armenian Armed Forces fire missile at Azerbaijan’s Barda, 3 civilians killed (PHOTO)
Amount of transactions in national currency at Turkmen exchnage in September 2020
Kazakhstan’s government to expand work on attracting US companies to co-op
Uzbekistan sets up special program for incoming foreign tourists
Bank lending to Azerbaijani regions increases
Iranian deputy FM to visit Moscow to discuss situation related to Karabakh conflict
National Bank of Georgia takes another steps to stabilize lari exchange rate
Georgian "Same" tea to appear at stores from November
Uzbekistan expects to resume tourist flow in spring 2021
Iran say it would welcome US returning to nuclear deal
Nagorno-Karabakh belongs to Azerbaijan - Iranian cleric
Video footage shows elimination of "minister of defense" of so-called regime in occupied Nagorno-Karabakh region of Azerbaijan (VIDEO)
Food security remains priority for Iran
Kazakhstan's budget deficit forecast for 2020 unveiled
Agricultural lands in Iran to be equipped with modern irrigation systems
Harley profit beats as shipments rise from pandemic lows, costs fall
Azerbaijan unveils data on local insurers' fees for 9M2020
If Armenian leadership really wants peace, then let it begin to withdraw troops from occupied Azerbaijani territories - FM
Turkey's export of defense products to Israel downgrades
German-Georgian forum created to strengthen political, education, economic, cultural ties
Shelling of Euronews employees once again shows Armenia’s true face - Azerbaijani Foreign Ministry (VIDEO)
Armenians begin calling for resignation of prime minister
Bahar Azadi gold coin price again rising in Iran
Azerbaijan's military operation will go down in history of wars - Russian expert
Uzbek coal shipped to budgetary organizations ahead of schedule
LNG tanker spot rates seen rising, but not to 2019 level
Uzbekistan, Indonesia to implement joint projects in textile industry
Georgia reveals information regarding infrastructure works ongoing in Batumi International Airport
Iranian government continues measures to confront COVID-19
Suffering one defeat after another, Armenian separatists appoint new 'defense minister' (PHOTO)
US-based IT Company EPAM announces 14 vacancies in Georgia
SOFAZ talks distribution of investment portfolio by level of countries' economic dev't
Iran declares production data for agricultural products
Turkish Kayaturk Group company eyeing textile plant creation in Kazakhstan's capital city
Eni Turkmenistan Limited opens tender for provision of engineering, design services
Azerbaijan's State Oil Fund announces its 9M2020 revenues
WB, EU implement project for Financial Inclusion and Accountability in Georgia
Wounded Azerbaijani soldier didn't leave his comrades-in-arms alone (VIDEO)
Kazakhstan taking measures to increase e-commerce share in retail trade
Pro-Armenian persons call for terrorist attacks on strategic Azerbaijani oil, gas facilities - expert
Blood deficit recorded in Armenian Armed Forces
Sales of domestic polyethylene in Turkmenistan’s exchange increased
Support of Islamophobic caricatures by French officials - unacceptable- Iranian Foreign Ministry
Prices for land plots in Baku show growth
Georgia talks about future systematic infrastructure projects
Total assets of Georgian commercial banks up
Armenia releases another list of servicemen killed in Karabakh conflict
Azerbaijan trying to fulfill all decisions of OSCE MG - military conflict expert
Armenia wanted negotiations to last forever, wanted to deceive us forever - Azerbaijani president
Member countries of Non-Aligned Movement stood up like real men and supported us - President Aliyev
Azerbaijan's Central Bank says country's money supply grows
Iran’s Sefid Dasht Steel Company boosts its production
All news