Azerbaijan Takes One of the First Places in the World for Amount of Investments Per Capita

Politics Materials 19 December 2006 14:09 (UTC +04:00)
Azerbaijan Takes One of the First Places in the World for Amount of Investments Per Capita

The meeting of the Azerbaijani-Turkish Business Council took place in Baku on December 19. The delegation headed by the Turkish Minister of Trade and Industry, Ali Joshgun, arrived in Azerbaijan to participate at the meeting, Trend reports. The delegation includes nearly 25 Turkish business people. More than 100 Azerbaijan companies participated in the event.

During the opening of the meeting, the Azerbaijani Minister of Economic Development, Heydar Babayev, presented information on the macro-economical situation in the country.

According to him, as per the result of 2005, the GDP growth equaled 24,6%, but this year it is forecasted at the level of 32%.

Nearly 500,000 new workplaces have been created in the country. $20 bln have been invested into the Azerbaijan economy. For the amount of the investments per capita, Azerbaijan takes one of the first places in the world, he said.

According to Turan Morali, the Turkish Ambassador to Azerbaijan, the improvement of the state economy is continuing in Azerbaijan, but there are certain problems for the new enterprises.

In relation with this, a number of companies functioning in Turkey are still afraid to come to Azerbaijan, but we will tell them that they need to invest now since the reformation process in the country is dynamic, he said.

According to Natig Aliyev, Minister of Industry and Energy of Azerbaijan, who was present at the meeting, all neighboring countries have energy dependence on Azerbaijan.

If Kazakhstan will transport the hydrocarbon via Azerbaijan, Turkmenistan will also come to the same conclusion, he said.

According to Ali Joshgun, today Turkey takes the 17th place among 20 most economically developed countries. We are ready to share with Azerbaijan the experience, to use our know-how in the country and produce competitive products, he said.

According to him, the relations between Azerbaijan and Turkey should not be based on only fraternal, but also economical ties.

Over the past 4 years, Turkey increased the export revenues from $30 bln to $80 bln, with 90% at the expense of the industrial products. The trade turnover between Azerbaijan and Turkey is expected to reach $1 bln in 2006, he said.