AZERBAIJANI-TURKISH BUSINESS FORUM GATHERED TWO COUNTRIES’ ENTREPRENEURS IN BAKU
Business forum of the Azerbaijani and Turkish entrepreneurs was held at the Baku Business Center, 7 November.
Presidents of Azerbaijan Ilham Aliyev and of Turkey Abdullah Gul attended the business forum with participation of Azerbaijani and Turkish entrepreneurs.
Minister of Economic Development of Azerbaijan Heydar Babayev made opening remarks.
Addressing the Forum, President of Azerbaijan Ilham Aliyev expressed his confidence that Abdullah Gul’s first official visit to Azerbaijan as a president will be successful. He said the signed documents will extend the cooperation between the two countries.
Underlining that Azerbaijan’s economy is developing due to the reforms, the president said GDP increased 26% in 2005, 35% in 2006 and 27% in the nine months of this year.
“610,000 jobs were created in the past four years, 400,000 of them are permanent jobs. Azerbaijan plans to produce 43-45 million tons of oil this year, this figure will reach 50 million next year. We plan to produce 1 million barrels of oil and 16-18bn. cu m gas per day as from next year. Azerbaijan supplies Turkey and Georgia with gas,” he said.
As stated, Azerbaijan’s currency reserves surpassed $7bn. and according to the World Bank’s calculations there will be $200bn. capital inflow in Azerbaijan in the nearest 20 years.
“But it should be noted that these figures were publicized when oil price was $50 per barrel,” he said.
Azerbaijani President said that $40bn. have been invested in the country up to now.
“Only this year this figure will be $8bn. Azerbaijan’s consolidated budget will make up $12bn. next year. Private sector GDP is 80 percent,” he said.
Turkish President Abdullah Gul said that Turkey, along with the US and England, is the main investor in Azerbaijan.
Regretting that Azerbaijan has few shares in Turkey’s foreign trade, which surpassed $220bn in 2006, Abdullah Gul said foreign trade turnover of the country is planned to reach $500bn. in 2013.
President of Turkey expressed confidence that the joint economic projects with Azerbaijan would soon bring great profits.
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