Azernews.Az

By Nigar Orujova

An international conference on prospects for Azerbaijan's development until 2020 supported by the Azerbaijani government and the United Nations was held in Baku on Monday.

Head of the Azerbaijani Presidential Administration Ramiz Mehdiyev and other government officials as well as foreign guests, including UN Resident Coordinator in Azerbaijan Antonius Broek, PwC company Public Sector's Global Leader Jan Sturesson, World Bank Country Manager Larisa Leshchenko and Asian Development Bank Resident Representative Olly Norojono delivered speeches at the conference. The event, titled "Azerbaijan 2020: A look into the Future", was organized by the Strategic Studies Center under the President of Azerbaijan, the United Nations Development Program, PwC Azerbaijan and the Azerbaijani Youth Fund.

According to Mehdiyev's keynote speech, Azerbaijan, strengthening political and economic independence, has developed its statehood and created its own economic model based on the principles of liberalism and democracy over the past twenty years. He was referring to the period that has passed since Azerbaijan gained independence in 1991 after 70 years of Soviet rule.

"In fact, the success of Azerbaijan's statehood became possible due to the implementation of the principles established by Azerbaijani national leader [former President] Heydar Aliyev," he said. "Heydar Aliyev's political course supported the further prospects for development and integration of not only Azerbaijan, but also the whole region, into the world politics and economy."

According to Mehdiyev, signing of the "Contract of the Century" in 1994 with world energy majors in Baku in 1994 -- which envisioned development of the Azeri-Chirag-Gunashli block of oilfields in the Caspian Sea -- had opened up new prospects for Azerbaijan, created opportunities for the construction of the Baku-Tbilisi-Ceyhan oil export pipeline, the Baku-Tbilisi-Erzurum gas pipeline and other significant projects.

These regional initiatives have given a real importance to strengthening the newly independent countries in the region.

Mehdiyev said the dynamics of the most rapid economic growth in the world has provided suitable conditions for improving Azerbaijan's image on the regional and global scale, turning the country into a new geo-economic player. By using its reserves, economic resources and opportunities, as well as favorable geographical location, along with the development of its economic potential, Azerbaijan has given an impetus to regional cooperation.

Thus, Azerbaijan has created the model of a new regional geo-economic powerhouse, which can be exemplary for the whole world, Mehdiyev said.

According to him, presently, Azerbaijan holds leading positions in the CIS for its credit rating. Azerbaijan's achievements amid the global economic crisis at a time the credit ratings of leading world countries have been declining, are the results of President Ilham Aliyev's continuing economic policy, which was launched by national leader Heydar Aliyev.

As a result of the president's policy, the average annual GDP growth rate in the country has hit 14.2 percent, with 10.7 percent growth posted in the non-oil sector in 2003-2011. In this period, the country's strategic currency reserves surged more than 25 times, the state budget - by over 16 times, banks' assets ten-fold, nominal wages almost six-fold, and average monthly pension more than six-fold. The poverty level has decreased from 44.7 percent to 7.6 percent.

Citing accomplishments in other areas, Mehdiyev said, "Very important success has been reached in the areas of human freedoms, democratic development, legal state-building and establishment of civil society.

In conclusion Mehdiyev touched upon the lingering Nagorno-Karabakh conflict between Azerbaijan and Armenia, which emerged in 1988 when Armenia made territorial claims against its South Caucasus neighbor.

"I am sure that a fair solution to the conflict, which emerged due to the Armenian aggression against Azerbaijan, will be an impetus for the region's economic stability, cooperation and development," Mehdiyev stressed.