Azerbaijani official: Serbia could become new market for Azerbaijan

Azerbaijan is interested in expanding cooperation with Serbia, Azerbaijani Deputy Economic Development Minister Niyazi Safarov said at the first Azerbaijani-Serbian business forum in Baku.

"We hope that this business forum will have its influence on the strengthening of cooperation between our countries," Safarov said. "Serbia could be a new market for us."

He said Azerbaijan has created a favorable business environment, and the country is a leader in the South Caucasus region.

The rate of GDP growth amounted to 9.3% in the country in 2009, industrial production grew by 12.8%, agriculture - 3.5% and incomes of the population - 8%. During the first quarter of 2010, GDP increased by 5.4%, incomes of the population - 6.5%. About 85% of GDP accounts for the private sector.

So far, $70 billion was invested in Azerbaijan's economy, most of which fell to foreign investment, Safarov said.

State secretary of the Serbian Economy and Regional Development Ministry Nebosh Chirich said the trade turnover between Azerbaijan and Serbia last year dropped to $5 million, of which $4 million was exported from Serbia, $1 million - the import of Azerbaijani goods.

"Our countries have potential to increase trade turnover up to $100-$150 million," he added.


/Trend/