Weekly economic review (jan. 23-28)

Analysis Materials 30 January 2012 15:06 (UTC +04:00)

President of Azerbaijan Ilham Aliyev has attended The Future of Eurasia session as part of the 42nd World Economic Forum annual meeting in Davos.

The WEF Annual Meeting brought together over 2,500 delegates from more than 100 countries, chief executives of the world's leading global businesses, representing the Forum's 1,000 Member companies, politicians from the G20 and other key countries, representatives from civil society stakeholder groups, media leaders representing the top news organizations from around the world, young global leaders, social entrepreneurs, technology pioneers and spiritual and cultural leaders.

Moderator Borge Brende, WEF`s Managing Director, welcomed participants of an interactive session on Azerbaijan. He Azerbaijan had a geographically and strategically important location. Brende hailed Azerbaijan`s development, saying the country managed to record a 9% growth in the non-oil sector despite the ongoing global crisis.

Attending the session, the President touched upon the progress archived in the economic and political fields, political stability and other matters.

He noted energy-rich Azerbaijan plays an important role in ensuring European energy security and uses its location to contribute to regional cooperation. The Head of State noted the country places a particular emphasis on development of the non-oil sector as well.

The Azerbaijani leader lingered around development of information and communication technologies, industrialization. President Aliyev said despite the financial crisis, Azerbaijan did much work to diversify its economy.

President Aliyev said the country faces serious challenges to develop all spheres. He expressed hope the nation would gain new successes in this direction.

Other speakers, including Azerbaijani minister of finance Samir Sharifov, communications and information technologies minister Ali Abbasov, ecology and natural resources minister Huseyngulu Baghirov highlighted the country`s achievements in economic, banking and financial sector.