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Expert: Azerbaijan’s economy to reach new heights after liberation of its territories

13 January 2021 14:00 (UTC+04:00)
Expert: Azerbaijan’s economy to reach new heights after liberation of its territories

By Aisha Jabbarova

US expert Peter Tase has said that liberation of its Armenian-occupied territories will open endless opportunities for Azerbaijan in terms of economy.

“The recently liberated territories of Zangilan, Lachin, Khojavand, Gubadli have a great potential to host major manufacturing projects especially production of agricultural equipment and automotive industry. With the impressive cultural sites that Shusha and Agdam have, there are endless opportunities for the development of creative economy or Orange Economy. Diversification of the economy in Azerbaijan will reach new heights of success, as the territories of Kalbajar, Khojavend and Tartar will be hosting major Italian and Turkish Companies that aspire to open their factories in these naturally gorgeous regions of Azerbaijan," Tase said in an interview with Day.az.

The expert said that the Azerbaijani government is working hard to strengthen the local economy on all seven regions ’s that are recently liberated from the Armenian occupation. The agricultural and livestock sectors are expected to expand and immediately develop in the districts of Fuzuli, Jabrayil, Zangilan and Kalbajar.

“Azerbaijan is determined and has positive indicators to maintain an impressive economic growth in 2021 and will quickly establish a new economic reality throughout the territories that are recently liberated; especially focused in the non-oil sectors, such as food, agriculture, manufacturing and textile companies being established in these Azerbaijani regions,” Tase went on saying.

Tase praised Azerbaijan for “attractive economic indicators, vibrant public policies and outstanding performance in public finances.”

The expert reminded that apart from oil and gas sector, the country also has potential in non-oil sector such as agriculture, winemaking and other spheres.

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