Azerbaijan, Baku, June 3 / Trend, A. Akhundov /
Azerbaijan must enter foreign markets to resolve GDP related issues involving its serious increase in the medium term, Azerbaijani Deputy Chairman of the Azerbaijani Central Bank (CBA) Khagani Abdullayev said during the "Baku Futures Forum" in Baku today.
"Azerbaijan's economy has recently shown impressive growth," he said. "The country will be doubling its GDP over the next 10 years. We are taking measures to diversify the economy. We are striving for the effectively balance between private and public sectors.
It is necessary to achieve the rapid growth of non-oil export to achieve this goal. The country's foreign policy plays a big role here. Azerbaijan is a small country with a limited domestic market. So, it is necessary to enter the foreign markets."
He added that it is possible to achieve such development through innovations and investments.
"The regions of the country have great human resources and the capital is concentrated in Baku," he said. "It is necessary to transform our resources into human capital through innovation."