Dear guests,

Today is a landmark date from the point of view of development of the economic relations between our countries. I am pleased that in the frame of official visit of the Lithuanian President to Azerbaijan our business circles have got chance to meet each other, exchange views, assess opportunities of each country and establish long-term economic ties.

Naturally, in the common political system we live, there also were certain economic relations. Moreover, after collapse of USSR, to great regrets, larger part of the economic relations was lost. Our countries have experienced transition period. Of course, many economic and internal problems impeded to rightly assess the economic opportunities.

Today, on one side, Lithuania, as a member of the European Union and with strong economic potential and growth, and on the other side, Azerbaijan, successfully passed the economic crisis and with quickly developing economy set nice opportunities to increase our economic accomplishments. I am confident, that the mutually beneficial economic cooperation can be rather useful. Of course, the role of governments is very important. At the same time, there should also be strong impulse for you to launch joint activity.

Azerbaijan can offer its infrastructure, potential, resources and services. Lithuania also can do it. Lithuania is a member of the European Union. Azerbaijan, according to the European standards, with its political and economic system is fully integrating to the world system. In the coming years, the economic growth will be much more speedy. This growth is watched and today. That is, I do not mean only the very nice macro-economic indices. Simultaneously, this economic growth is being observed in everyday life of people. For example, the construction business, power development. All these are inter-connected.

Azerbaijan’s natural role of bridge between Europe and Asia, its important geo-strategic position and the necessary infrastructure can be very useful. We have great plans for coming years. We have nay projects that require great international cooperation. Azerbaijan is in the first place among the former soviet republics, for foreign investment per capita. This, at the same time, shows the good business environment in the country. Therefore, the Lithuanian potential investors can feel themselves completely secure. AS we know, this factor as in all the countries is one of the basic terms for economic cooperation and investing.

Currently, we try to diversify our economy. Of course, the energy sector will contain the fundamentals of our economy for long years. That is, irrespective of our activities, none of the economic field can be compared with this sector. It is because in the coming two-three years the country’s oil and gas production will increase. For this reason, we pay more attention to the non-oil sector. That is, I mean agriculture, service field, and you have nice experience in those spheres.

Today, before coming here, after exchange of views with the officials, we have arrived in conclusion that there are very good business opportunities. In general, the businessman better knows the useful field for him than the officials do.

WE have good will for joint work. Our countries are friends, have strong political support for each other. Current visit of President Valdas Adamkus to Azerbaijan is evidence to the strong political relations established between our countries. We have potential. For both sides and mutually beneficial. Today, the businessmen of both countries attend this action and they will discuss potential cooperation opportunities. I consider that if you pay attention to practical questions, it will be very useful. You can familiarize with the legal norms, legal system, investment opportunities, and the projects. Recently we have set up a state-owned investment company. Start charter capital of it equals 100 million dollars. This is only for current year and may be next year it will be more. The goal of this Company is to be co-investor of numerous projects implemented in Azerbaijan. It can involve investors to the country.

We should define basic fields immediately to be developed by the government. At the same time, I consider that participation of the state-owned investment company in the projects will increase trust of potential investors. That is, if they take part in any project with the state company, they will be sure in success.

All opportunities are available. I consider if the business circles will pay attention to the practical projects we have planned, and the project you think over, then it will yield fruits.

I would like once again welcome all of you. I consider the today’s action very important for bilateral relations and in the coming years the Forum can play major role in development of our relations. I wish you successes in your activity.

Thank you very much.