Second forum on Azerbaijan's economic development determined

The World Bank and the Azerbaijani government plan to hold the second forum on long-term economic development in Baku on Oct. 17-18, WB official Joseph Owen said at a news conference.

"The main issues to be discussed at the forum are to improve the business climate in Azerbaijan," he said.

Following the first such forum on Oct. 21, 2009, the sides agreed to prepare an action plan to diversify the economy with a view to improve development.

The forum created the opportunity for a constructive dialogue on economic diversification.

Azerbaijan must increase non-oil exports for the next 10 years amid changing the economic environment and volatility in oil prices as a
result of the global financial and economic crisis.

The world experience shows that this can be achieved only through a significant increase in foreign direct investments.


/Trend/