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."

Construction of circular gas pipeline being completed in Uzbekistan’s Tashkent
Construction of circular gas pipeline being completed in Uzbekistan’s Tashkent
EIB energy co-op with Azerbaijan to be affected by Energy Lending Policy, CBR
EIB energy co-op with Azerbaijan to be affected by Energy Lending Policy, CBR
Iranian Energy Exchange announces products to be on sale on January 30
Iranian Energy Exchange announces products to be on sale on January 30
Loading Bars
Azerbaijan records decline in 2020 bank lending
Azerbaijan may become new global investment hub
Azerbaijan's banking sector ended 2020 with profit
Uzbek finance ministry to provide financial support for household lands owners
Iran's non-oil export was considerable during COVID-19 peak
Kazakhstan to take measures on ramping up agricultural exports
Turkey - third country after US and China that implemented biggest number of vaccine projects – President Erdogan
Azerbaijan's Innovation Agency talks concept of smart projects in liberated lands
Kazakhstan's automotive manufacturers increase payments to state budget twofold
Georgian fish processing company Umali plans to expand production line
EAEU increases export of petroleum products to Turkmenistan
Azerbaijan confirms 437 more COVID-19 recoveries
Construction of circular gas pipeline being completed in Uzbekistan’s Tashkent
Uzbekistan’s 2020 import of construction materials down
Gradual opening of economy may start earlier than planned in Georgia
Russia retains status of only polymer products supplier to Turkmenistan from EAEU countries
Georgia to resume regular flights from February 1
Kazakhstan to apply UN sustainable food production principles
Iran announces amount of enriched uranium
Azerbaijan creates working group to increase export of tomatoes
Mortgage lending in Azerbaijan through state line greatly grows in 2020
Ministry of Education to become separate agency in Georgia
Wikipedia includes articles about Azerbaijan in Polish
EIB energy co-op with Azerbaijan to be affected by Energy Lending Policy, CBR
American Airlines posts record annual loss on pandemic pain
Int'l Association Israel-Azerbaijan sends letter to Polish channel due to Karabakh war documentary
Iran's Fordow uranium enrichment ahead of schedule - Iranian Parliamentary Speaker
Azerbaijani MP meets with residents of Khudat city (PHOTO)
Iranian Energy Exchange announces products to be on sale on January 30
UNEC students reach the final of the international competition
Trilateral working group on Nagorno-Karabakh region to discuss restoration of transport infrastructure in region
Azerbaijani ministry discloses number of new cultural monuments in liberated territories
Azerbaijan talks ongoing work on construction of Baku-Guba-Russia border highway (PHOTO)
Georgia starting to reform state-owned enterprises
Dow profit rises 61.4% on recovery in chemical prices, demand
UNESCO should recognize damage done from Armenian occupation to Azerbaijan's heritage - analyst
PetroIran Development Company developing several oil fields
Dostlug field - major breakthrough in Azerbaijani -Turkmen energy relations
Azerbaijan to increase financial inclusion for entrepreneurs
WB talks about results of measures to develop human capital in Azerbaijan
Azerbaijan prioritizes support for Karabakh war veterans, martyr families - Azernews newspaper
GSA Technologies company plans to popularize Smart Aeroponics technology in Georgia
Armenia also destroyed Orthodox church in Azerbaijan’s Khojavend district - Trend TV report
Iran reveals COVID-19 data for January 28
Azerbaijan greatly increases export of tomatoes to Kazakhstan
Kazakhstan's KAZ Minerals reports 2020 operations results above guidance range
Uzbekistan reveals budget allocated for healthcare sector in 2021
Uzbekistan working to improve quality of drinking water supply services in Tashkent
Turkmen Maritime and River Transportation Agency exceeds working plan for transportation
Azerbaijani banks accelerate the digitalization of payments, services in 2020 (Interview)
Azerbaijani Central Bank talks countrywide development of financial technologies
Iran's Bahar Azadi gold coin price continues to rise
Georgian "Kakhetian Traditional Winery" to start construction of eco-village
Kazakhstan's civil aviation authorities introducing 'e-Freight' system
Azerbaijani banks buy more foreign currency at CBA's auction
Russia allows imports of peppers tomatoes from one more Kazakh venture
Kazakh Parliament ratifies free trade agreement between EAEU, Serbia
Iran declares its revenues from tea exports
Azerbaijan's AzeriCard and Visa developing new mobile platform
UK will review quarantine country list on Thursday
Iran's CBI reveals amount of loans issued in Iran's housing and construction sector
Iran's NIOC holding discussions with foreign company regarding Susangerd field
Azerbaijan may open trading houses in Japan and Pakistan
New enterprises put into operation in Iran's industrial parks
Iran's exports from Kerman Province increases
Vaccine diplomacy: India gets request from all across the world; partnering in phased manner
Georgia reduces importing of pyrotechnics
Number of hotel rooms commissioned in Uzbekistan increase despite COVID-19
Romania decreases petroleum oils import from Kazakhstan amid COVID-19
Precious metal prices decrease in Azerbaijan
Azerbaijani president views conditions created at reconstructed schools in Sabunchu, Surakhani (PHOTO)
Turkish TAV Airports holding eyes modernizing airports in Uzbekistan
Realization of SGC - successful result of years of work - Ambassador Cekuta
Uzbekistan to start preparation for mass vaccination against COVID-19
Georgia reports 723 new cases of coronavirus for Jan.28
London Court of International Arbitration issue second arbitral award in favor of SOCAR
SOCAR’s LNG cargo scheduled to arrive to Pakistan as contracted
Azerbaijani wine products to be presented at int'l exhibition in China
Iran plans to export oil from Gulf of Oman
Amount of loans issued to Iran's industrial and mining sectors announced
India’s gift of 5 lakh doses of Covishield vaccines reaches Sri Lanka
Rector Elmar Gasimov holds online meeting with Presidential Scholars (PHOTO)
Azerbaijani currency rates for Jan.28
Non-cash transactions exceed cash turnover for first time in Azerbaijan - ABA's president
Azerbaijan nearly doubles seafood exports
Uzbekistan to increase tax on production and sale of oil products
Growth of imports of dairy products in 2020 continues in Georgia
Turkmenistan ready to start practical steps to create logistics center in Russia’s Astrakhan
Russia’s Tatneft in Turkmenistan opens tender for bulldozer services
Azerbaijani oil prices continue to grow
Kazakhstan, Switzerland see trade volume decrease amid COVID-19
Turkmenistan's Turkmenhimiya opens tender for purchase of urea-formaldehyde concentrate
Azerbaijan reveals data on population's bank deposits countrywide
Indo-Israel Chambers of Commerce eyes Israel, India, UAE business opportunities
Uzbekistan to launch number of plants for natural facing stones production
Cafes, restaurants in Azerbaijan to work on weekends
Kazakhstan eyes measures for livestock breeding market dev't within EAEU
Burj Khalifa lights up with tricolour to celebrate India's 72nd Republic Day
IMF projects Indian economy to be fastest-growing next financial year
Kazakhstan’s subsidiary bank operating in Uzbekistan increases its total assets
All news