Eurasian Business Dispatch: Azerbaijan`s economy rapidly develops due to non-oil sector

Rome, January 14, AZERTAC

The Eurasian Business Dispatch portal has published an article headlined “Central and Southern Italian companies’ export potential in Azerbaijan”.

“In recent years Azerbaijani economy has rapidly developed due to the non-oil sector. The average annual increase has been approximately 10 percent. The country has managed to cut back on negative impacts due to the declining oil prices. Today oil and gas sector is covering 30 percent of Azerbaijan’s economy. The remaining part is non-oil sector. Azerbaijani government is carrying out new economic reforms for diversifying its economy,” the article says.

The article also notes prospects for Southern Italian entrepreneurs to invest in Azerbaijan and introduce their products in the Caucasus region.

“Local demand in Azerbaijan will be the main source of improvements from points of consumerism and investments. According to Asian Development Bank Azerbaijani government’s efforts to decrease negative elements since the oil prices decline will soon give its fruits.”

Asiman Asadov

Special correspondent

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