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Seco Develops New Strategy for Azerbaijan for 2008-11

Business Materials 14 November 2007 17:44 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / The Swiss Government has commenced development of the strategy on technical assistance to South Caucasus countries, a representative of the Swiss State Secretariat for Economic Affairs (Seco) in Azerbaijan Thomas Mayer said on 14 November. The new strategy will cover 2008-2011.

"We will focus on two directions - the first is economic development and the second is macroeconomics," Mayer said.

According to Seco representative, the strategy also includes a new project on improvement of business environment in Azerbaijan, which was developed by the International Financial Corporation (IFC).

Within the framework of the current strategy the budget envisaged for Azerbaijan for 2007 made up $5mln. Mayer believes that assistance will mostly remain the same in future and will keep comprising $5mln a year.

The activities of Seco are intended to support development of infrastructure, improvement of financial sector, development of private sector and assistance to Azerbaijan in entering the World Trade Organization.

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