Azerbaijan's export of non-oil products reaches record growth - deputy minister

Economy Materials 24 December 2021 15:23 (UTC +04:00)
Azerbaijan's export of non-oil products reaches record growth - deputy minister

BAKU, Azerbaijan, Dec. 24

By Sadraddin Aghjayev - Trend:

Azerbaijan's export of non-oil products reached record growth, Azerbaijani Deputy Minister of Economy Sahib Alakbarov said at the scientific-practical conference entitled "Karabakh: New Panorama of South Caucasus Opening to the World", Trend reports on Dec. 24.

“The Azerbaijani economy has been demonstrating stability and rapid growth this year,” Alakbarov said. “Thus, the strategic foreign exchange reserves exceed $53 billion. The manufacturing of non-oil products and export is growing.”

The minister said that the export of non-oil products has reached a record growth of 44 percent this year.

“Azerbaijan's GDP increased by 5.3 percent as of early December,” Alakbarov added. “Moreover, Azerbaijan adopted a social and economic development strategy for 2022-2026, covering five spheres.”

The minister stressed that the work is being actively carried out within this strategy.

“It is predicted that Azerbaijan's GDP will grow by 3.9 percent during this period,” Alakbarov said. “Thousands of hectares of land are unsuitable for use in Azerbaijan today and the work on their development is also envisaged within the new strategy.”

“Moreover, big industrial zones and parks, to which the first residents have already been attracted, are being created,” the minister added. “The projects for the transition to green energy are also being implemented.”

Alakbarov said that benefits and privileges are envisaged for businessmen who work in Karabakh region.

“We will turn Karabakh into a tourism region,” the minister said.

“The restoration of the region from the very beginning gives us the opportunity to create the modern infrastructure there,” Alakbarov said.


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