The Azerbaijan-Latvian business forum opened today, on 3 October in Baku. 50 Latvian and 150 Azerbaijani entrepreneurs took part in the forum, Trend reports. The head of the Foundation for Promoting Export and Investments Emil Medjidov made a presentation of the AzerbaijanвЂ™s economy, during which he noted, despite Azerbaijan to be the oil country, the growth of the non-oil sector exceeds the analogues indices of the oil sector and makes up some 15%.
He also stressed, the growth of the AzerbaijanвЂ™s populationвЂ™s income is annually 20-22%. The tendency will be 20-25% in the nearest years. He familiarized the guests with the key transport projects, Azerbaijan involved in.
He also stressed, the GDP growth in 2005 will be about 20%, for 2006 this figure
is projected at the level of 26-30%. He also familiarized them with the investment climate of Azerbaijan, noting the foreign investors have legislative guarantees for free repatriation of their revenues.
The head of the Latvian Agency for Investments and Development Andris Ozols noted, the growth o the Latvian economy during the last 7 years was 7%, in the I half-year of 2005 вЂ" 9,5%, and in the III quarter - 11%. It enables Latvia to take leading positions on the index in the European Union.
The Latvian businessmen represented the banking sector, IT, communications, food industry, transport, ecology, disposal of wastes, chemistry, building, hotel business, trade, tourism and etc. at the business forum.