Azernews.Az

Azerbaijan has achieved an outstanding growth which is impressive, Chairman of Russia's VTB Bank Andrey Kostin said at a meeting of the World Economic Forum in Baku on Monday.

According to him, development of some other countries of South Caucasus and Central Asia, such as Kazakhstan, is also remarkable.

"These countries with large resources are successful compared to others in the region, but oil and gas are not permanent, so alternative energy sources are important," Kostin said.

According to him, the region also meets great security challenges.

Considering the proximity to Afghanistan and Iran, the fight against drug trafficking and increasing manifestations of Islamic fundamentalism, as well as cooperation issues, have to find a solution for the region to flourish, Kostin said.

According to him, coordination in the issue of energy resources is also important in this context.

"It is important to create a global transport corridor which will give a strong impetus to the development of the region. It is also important to cooperate in investment issues. Russia has great interests in the region," he said.

According to him, Russia can benefit from cooperation with these countries.

"Our approach is the multistage integration between the countries. We clearly understand there is a need for cooperation in the region and Russia understands that the development of these countries is important for itself," Kostin said.

The meeting of the World Economic Forum (Davos Forum) titled 'Strategic Dialogue on the Future of the South Caucasus and Central Asia' is being held in Baku on Monday.