Ilham Aliyev received the Chair of the Board of Extractive Industries Transparency Initiative

President of the Republic of Azerbaijan Ilham Aliyev has received Chair of the Board of Extractive Industries Transparency Initiative Clare Short.

Clare Short said she visited Azerbaijan 20 years ago for the first time, and congratulated President Ilham Aliyev on the accomplishments gained in the country over the past period. Clare Short said Azerbaijan was one of the first countries that joined Extractive Industries Transparency Initiative, noting that the country demonstrated leadership in this initiative.

President Ilham Aliyev thanked for the kind words and highlighted the great successes gained in all fields in Azerbaijan. The head of state stressed the importance of Azerbaijan`s participation in Extractive Industries Transparency Initiative.

President Ilham Aliyev said the production of large amounts of oil started in 2006, noting that high oil prices created good opportunities to lay the foundations for diversifying the economic development, implementing projects in social sector, creating infrastructure, carrying out reconstruction and renovation work in the country.

Touching upon current low oil prices, the head of state said that although this caused decrease in the country`s revenues, the non-oil sector accounts for nearly 70% of the gross domestic product. President Ilham Aliyev said huge successes were achieved in terms of the diversification of the economy. 

The sides exchanged views on prospects of Azerbaijan`s participation in Extractive Industries Transparency Initiative.