Orkhan Mammadov: Economic reforms in Azerbaijan focus on dev't of non-oil sector (UPDATE)
Details added (first version posted at 11:39).
BAKU, Azerbaijan, Feb. 18
By Fidan Babayeva - Trend:
The economic reforms in Azerbaijan focus on the development of the non-oil sector, and the country has succeeded quite well in this area, Chairman of the Small and Medium Business Development Agency of Azerbaijan Orkhan Mammadov said at a business summit organized jointly with USAID in Baku, Trend reports.
Orkhan Mammadov noted that small and medium-sized businesses have always played an important role in the successful development of Azerbaijan's economy. The country's economic reforms have been focused on the development of the non-oil sector, and Azerbaijan is successfully moving towards its goals in this area.
"Azerbaijan ranked 25th in the latest report on business development and became one of the most reformed countries," Mammadov said at the partnership summit aimed to support business and professional associations in Azerbaijan.
Mammadov noted that Azerbaijan ranks second in the development of transport and road infrastructure.
The agency chairman added that increasing the share of small and medium-sized businesses (SMEs) in gross domestic product (GDP), employment and exports in Azerbaijan is a strategic goal.
By 2025, it is planned to increase the share of SMEs to 60 percent in GDP, 70 percent in employment and 40 percent in exports, Mammadov said.
"Today, as an agency, we are working on the development of SMEs in various sectors of the economy. To this end, we have managed to establish close cooperation with foreign partners. We also work with the USAID, and they provide us with the necessary support," Orkhan Mammadov added.
USAID and Azerbaijan's Small and Medium Business Development Agency have launched a new initiative to support business and professional associations.