MP: Private sector ensures 80 percent of Azerbaijan’s economic potential
Azerbaijan, Baku, Dec. 6 / Trend J. Nasibova /
At present, around 80 percent of the Azerbaijani economic potential is being created by the private sector, chairman of the Economic Policy Committee of the Azerbaijani Parliament Ziyad Samadzade said at an event organized by AMCHAM (American-Azerbaijan Chamber of Commerce) in Baku today.
"Of course, the U.S, Great Britain and other Western countries contributed to Azerbaijan's achievements in the economic field," he said. "The cooperation with them is essential for the development of the country."
He said that Azerbaijan today is one of the countries least affected by the global economic crisis.
Samadzade said that today Azerbaijan begins a new stage of economic development, thereby reducing the economy's dependence on the oil sector and increasing the non-oil share of the economy.
"Azerbaijan's economy continues to develope," he said. "By 2020 Azerbaijan's GDP will increase at least two-fold."