Azerbaijan: development in terms of low oil prices
By Trend
While the world’s mining countries (and not only these countries)
are taking anti-crisis plans in connection with falling oil prices,
Azerbaijan continues implementing all tasks by regulating them only
by priority.
President of Azerbaijan Ilham Aliyev’s speech at the conference
testifies to this. The conference was dedicated to the results of
the first year of implementing the "State program of socio-economic
development of districts of Azerbaijan in 2014-2018".
Without exaggeration the president’s speech can be called a program
speech. Ilham Aliyev has actually outlined the main ways of
Azerbaijan’s development for the coming years. Of course, the
country’s development program was always there. But today it has
become more relevant and significant in terms of low oil
prices.
It has been long noted that the development of economy’s non-oil
sector is a priority for Azerbaijan. Today, the development of the
non-oil sector in Azerbaijan is much higher than that of the energy
sector.
New prospects have opened up for Azerbaijan: manufacturing of
high-tech export-oriented products, access to foreign markets.
The development of agriculture is another priority. The head of the
state said that the production, meeting the domestic demands and
export of agricultural produces should become a single system.
The figures presented by the president regarding Azerbaijan’s
production potential are especially impressive. These figures are
several times higher than the current production volume which meets
the domestic demands. That’s to say, by increasing it by several
times, Azerbaijan will create the largest export potential.
By taking into account all the abovementioned factors and the fact
that the country has the fastest developing economy in the region,
as well as the opportunities to invest in the creation of new
enterprises, the developed transport infrastructure, Azerbaijan can
turn into the biggest exporter.
Moreover, the lack of investments in nearby markets makes them
dependent on imports from abroad.
In his speech, the president highlighted the existence of the
Azerbaijani model of development.
“The countries that have not in time invested in the real sector,
infrastructure, today regret it. They begin this work today, but it
is late. Today, when oil prices fell, making big investments is not
so easy. We had to do everything in time, and we did. Therefore, we
are not mistaken when speaking today about the existence of the
Azerbaijani model. There is such a model, and it is of interest for
other parties as well,” said President Aliyev.
That is, Azerbaijan demonstrated the possibility of the correct use
of revenues from power industry and development during the “oil
boom”.
Today, the country can continue the Azerbaijani model’s action,
showing the world how producing countries can continue to develop
in conditions of low oil prices.
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