Ilham Aliyev attended the opening of a reception on the subject of “South Caucasus and Central Asia: path to global economy”

A reception on the subject of “South Caucasus and Central Asia: path to global economy” has been held in Davos.

The reception was attended by President of the Republic of Azerbaijan Ilham Aliyev.

In opening remarks at the reception, the executive chairman of the World Economic Forum, Klaus Schwab, said:

- Mr. President Ilham Aliyev.

Commissioner Oettinger.

Ladies and gentlemen.

A special reception dedicated to the South Caucasus and Central Asia has been organized today. Thanks to your personal presence in Davos, there is a growing interest in the region. During our meeting today I received detailed information about your views and policies. I would like to inform you that a month ago I visited Azerbaijan and we are currently working on a number of scenarios related to the development of your country. They have already been submitted to you. But the work is still in progress, and we will meet again in August to provide additional information. The final presentation will be held at the end of this year or early next year. Various scenarios are being considered. Naturally, we are confident that the most positive scenario will be implemented. So I wish you a pleasant evening and active discussion.

Speaking at the reception, President Ilham Aliyev said:

- Thank you. First of all, I would like to express my gratitude to Professor Schwab for organizing this event on the South Caucasus and Central Asia. Our region is attracting global attention these days. The panel organized this morning discussed the theme of regional cooperation. In addition, the Davos forum organized in Baku in April last year was also devoted to this topic. Indeed, our region is developing dynamically and there is great potential for economic cooperation. Azerbaijan, in turn, plays an important role in the strengthening of cooperation and integration of the South Caucasus and Central Asia. I can say that the first initiative to consolidate our countries was made Azerbaijan. This is connected with the start of our energy policy.

We have managed to link the Caspian, Black and Mediterranean seas by an extensive network of pipelines. Today, Azerbaijan is not only a supplier of energy but also a transit country. Central Asian states transport their natural resources through our infrastructure. This project has created favorable conditions for producer, consumer and transit countries. This project has laid the foundation of a new project we are implementing. I am talking about the pipeline which will cover Turkey and Europe, as well as the "Shah Deniz-2" project, which is considered the largest infrastructure of Europe. In December last year we signed a document worth $25 billion, which we call the "Contract of the 21st century". This achievement shows that when there is broad and sincere cooperation based on mutual interest and support, successful results can be achieved.

Today we are cooperating with Central Asian states in the creation of a transport network. At the same time, we are working on an important railway project that will connect Central Asia with Europe through Azerbaijan. In essence, this is a new Silk Road which will stretch from China to the UK. And I hope that it will be put into operation next year. All these are positive signs of regional cooperation.

Naturally, the political sphere also plays an important role. At one time, 22 years ago, states of the region were part of a single country. We have historical links, but I am sure that every country sees the fruits of its independence. We have gained not only freedom. We have changed the whole system. The achievements of our countries demonstrate the advantages of a market economy and an independent political development. For example, whereas 22 years ago the share of the private sector in our gross domestic product was at zero per cent, today the figure is 85 per cent.

The political and economic transformation and our policies to attract investment have been successful. Today Azerbaijan already invests in foreign countries itself. All this happened in a very short time. Today, our region is considered a place with huge potential, dynamic development and immense human resources. In this regard there is huge potential for development, while our performance exceeds the world average.

As for Azerbaijan, today we are focused on the diversification of our economy. Last year the GDP growth in the non-oil sector amounted to almost 10 per cent, and I hope that similar growth rates will be achieved in the next 10 years.

I should also note that Azerbaijan is a rapidly growing economy. Over the past 10 years our economy has grown three times. In terms of economic competitiveness the Davos Economic Forum has honored Azerbaijan with 39th place in the world. This was made possible mainly due to the reforms and sustainable use of our natural resources, reinvestment in human capital and infrastructure, and improved business opportunities.

Once again I would like to express my appreciation to Professor Schwab and the Davos Economic Forum for the interest in and support for our region. This is my eighth visit to Davos, and it has been very helpful in terms of promoting Azerbaijan and establishing new contacts. The contacts established over the past years are now serving the development of the space industry, information and communication technologies and spheres we did not even think about before.

Thank you again and I hope that this issue will continue to be in the spotlight.