Azernews.Az

The purpose of cooperation among Azerbaijan and the international financial institutions is not only to obtain loans, Azerbaijani Minister of Economic Development Shahin Mustafayev said at a press conference dedicated to European Bank for Reconstruction and Development (EBRD) president Suma Chakrabarti's first visit to the region on July 15.

"Our goal is to attract international experience to the country," Mustafayev said. "If we worked only to attract credit resources, the ratio of Azerbaijan's foreign debt to GDP volume would not be so small - at the level of 7-8 percent. For comparison, the figure hits 80 in some European countries, especially after several years of crisis and 100 percent and more in some countries."

The country's government is interested in the international experience in various fields, he added.

"Ensuring transparency and attracting advanced technologies to the country, and of course, the experience in the support for entrepreneurs, in particular, business women, are among them," he said. "Moreover, we are interested in the international experience in corporate governance."

The cooperation with international organizations covers a lot of tools and yields results, Mustafayev said.