Azerbaijani President: Country is pleased with cooperation with IDB

Azerbaijani President: Country is pleased with cooperation with IDB

Azerbaijan, Baku, June 23 / Trend S.Aliyev /

Holding the annual congress of the Board of Governors of the Islamic Development Bank (IDB) in Azerbaijan is a very significant event for the country, Azerbaijani President Ilham Aliyev said today.

"I am confident that this meeting will be a success and its results will contribute to deepening relations among the IDB member-countries. Moreover, there will be an extensive exchange of views on the prospects of the bank," Aliyev said.

Aliyev said the IDB-Azerbaijan relations develop rapidly and successfully, as evidenced by the data presented today.

"We get more profit from this efficient cooperation for years and great credit belongs to the IDB in successful economic development of Azerbaijan. I am sure that these relations will deepen in subsequent years and we will continue the successful cooperation to solve economic and social issues that our country faces. Our cooperation has excellent prospects. Azerbaijan experiences a period of development and projects implemented in the country through the bank justify themselves," Aliyev added.

Aliyev said the government will continue economic reforms to ensure the overall development of Azerbaijan.

"In short, I want to emphasize that the IDB-Azerbaijan cooperation has so far been very successful. We are satisfied with them and believe in the continuation of joint efforts to deepen the relationship. I believe that today's meeting will also expand the ties among the bank's members and contribute to strengthening the Islamic unity," Aliyev said.

Aliyev believes Azerbaijan makes every effort on its part to strengthen Islamic solidarity. "Despite the fact that we, as an independent state, are relatively young, we have become a very active member of the Organization of Islamic Conference (OIC), and Azerbaijan has successfully implemented many activities on this line," Aliyev noted.

"Consolidation of the Islamic unity is our common cause. We can strengthen this unity by providing political support to each other and by developing economic ties. There are possibilities for this and expansion of cooperation among the OIC member-countries is in our common interest. Azerbaijan will continue its efforts in this direction on its part, not only in economic and political sphere, but also in other fields, including culture and humanitarian sectors. We must strengthen our ties," Aliyev said. 

"I can say with great pride that Baku was declared the capital of Islamic culture in 2009 and different activities were held throughout the year. In other words, we try in every way to contribute to the development of cooperation of the Muslim countries," Aliyev said.

Aliyev said Azerbaijan was able to pass a long way during the period of independence.

"The situation was very complicated in Azerbaijan after it gained independence in 1991. However, thanks to Azerbaijani people's will and Great Leader Heydar Aliyev's activities, Azerbaijan could honorably overcome this crisis. Political and economic stability was established in the mid 90-ies and this gave us the opportunity for rapid development," Aliyev said.

He said the comprehensive development of Azerbaijan has created conditions for solving problems that the country faced.  Over $80 billion was invested in the Azerbaijani economy in 1995- 2010 and as a result, various areas of the country's economy began to develop.

Azerbaijan in recent years is a rapidly developing country from an economic point of view, Aliyev said. "Growth in GDP, industrial production, foreign investment and, most importantly, cut in the poverty ratio by more than 4 times - these are the main results of the country's development," he added.

Aliyev said this indicates that Azerbaijan is on the right path. Some 85 percent of Azerbaijan's economy is formed by the private sector. "Private sector development is a priority for us. We implement measures to stimulate the private sector to create a powerful class of entrepreneurs in Azerbaijan and the results are already visible. We have always tried hard try to develop all areas of the country's economy, including non-oil sector, and significant results are achieved in this direction," Aliyev added.

Aliyev said the most vivid indicator of the country's economic development is that Azerbaijan's economy grew by more than 9 percent on the background of  the financial crisis and the decline in oil prices by several times.

"This increase is the result of the undertaken work. Azerbaijan's economy develops comprehensively and does not depend on one sector. Azerbaijan is a very attractive country for investing. Both internal and foreign investments are protected at the state level in Azerbaijan and this contributes to the rapid development of the economy," Aliyev said.

Aliyev said Azerbaijan closely cooperates with the international financial institutions. The country observes a political and economic stability. "I think the main reason for our success lies in this. Because there can be no question of economic development and investments, if there is no stability," Aliyev said.

Azerbaijan has great hopes for its future. "We will not dwell on the progress achieved in strengthening of the country's economy. We have big goals such as Azerbaijan's joining the ranks of developed countries and we have already achieved excellent results in this direction," Aliyev said.

Aliyev said Azerbaijan is ranked the first in terms of competitiveness in the CIS and 51st at a global level.

"We are still on the beginning of this path. The country will create additional opportunities thanks to continuing economic reforms and implementing major projects," Aliyev said.

Aliyev said successful implementation of major regional energy projects, which are initiated by Azerbaijan, are a clear example of the country's active participation in the international and regional cooperation. Oil and gas pipelines were laid in different directions upon Azerbaijan's initiative and these pipelines meet the economic interests of Azerbaijan and contribute to the development of the region, deepening of cooperation, and generally have a positive impact on the energy security of the continent.

"We were able to use our energy resources very successfully and the revenues were directed to the development of non-oil sector. As a result, we have strengthened the Azerbaijani economy's desire for multi-directionality. Moreover, we apply the transparency principles in our entire financial system. The country achieved excellent results in this direction. The State Oil Fund is a very transparent organization, awarded by the UN. Being an active member of the Extractive Industry Transparency Initiative, Azerbaijan demonstrates its leadership in this direction," Aliyev said.

The Azerbaijani energy resources will help to strengthen the country's economy for many years. "But our main task is to transform this capital into human capital, and important events in the social and humanitarian spheres are carried out in Azerbaijan for this end. Specific programs are conducted to strengthen the social and humanitarian fields. Education, medicine, culture, sports are the priority areas for us," Aliyev said.

"We carry out major infrastructure projects that strengthen our country and at the same time, are of international importance, especially in the transport sector. The railways and the corridors laid upon our initiative are of great importance for the region. Asia and Europe will be connected with the new railway by constructing the Baku-Tbilisi-Kars route. We have expressed this initiative and mobilized the primary financial resources," Aliyev underscored.

Aliyev said Azerbaijan also expands thanks to the North-South Corridor.

"We have a favorable geographic position, but it is senseless without the infrastructure projects. We must use and we use our geographical position successfully," Aliyev said. "Azerbaijan revives the historical Silk Road thanks to its infrastructural projects and initiatives."

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