Azerbaijan seeks to join global value chains
By Nigar Abbasova
Azerbaijan, which is keen to diversify its economy and join regional and global value chains, has already took certain steps in this regard, said Vusal Gasimli, Executive Director of the Center for Analysis and Communication of Economic Reforms.
Gasimli told Trend that one of the main objectives here is analysis of the current situation in the sphere of global value chains.
“Analysis of trends existing in the sphere is very important for Azerbaijan. To get the desired positions we should first of all held a segmentation of the market, analyze value chains, determine the level of demand in the market and reveal a demand for Azerbaijani products,” Gasimli said.
He added that the Centre has been successfully cooperating with the World Bank Group and other institutions in this regard.
“We will try to continue our cooperation to provide for successful joining of the country in regional and further global value chains. As the world practice confirmed, joining in chains is not sufficient, we should also carry out works in the sphere of services, marketing, and mastering of new technologies,” he said.
The expert underlined that the development of the strategic road map for the country's economy would facilitate integration of Azerbaijan in regional and global value chains.
The main objective of the drafted road map is to ensure sustainable economic growth, correctly define the development strategies for auxiliary sectors that contribute to creating the economy’s leading sectors, and turn the country into one of the most attractive for investors.
“We are currently engaged in developing of the road map, which will be ready in the short run. It will allow to define our strategic vision, directions of our activity, as well as our goals and objectives.”
Gasimli emphasized that a new economic model, which will be based on a number of development prospects may be considered as one of a kind.
“Development prospects include creation of a new export-oriented economic model. Moreover, the country will pursue a new fiscal and monetary policy able to overcome arising challenges and obstacles. We have examined the world practice and experience of such countries as Turkey, Poland, Malaysia, Singapore, but we also should bear in mind national peculiarities of our economy. Therefore, the new economic model of Azerbaijan will be unique,” he emphasized.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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