He made the remarks at the B20 Regional Consultation Forum held in Baku.
Currently, the Business 20 (B20) is chaired by the Union of Chambers and Commodity Exchanges of Turkey. The forum is being held as part of the G20.
“Azerbaijan’s economy saw it greatest development over the years of independence, which is of great importance not only for the country, but also for the entire region,” said Babacan. “Azerbaijan’s participation in the G20 summit will further strengthen its role in world arena.”
The Group of Twenty (G20) is a leading forum for discussion of global economic and financial cooperation. The G20 includes the 20 largest national economies - Argentina, Australia, Brazil, Britain, Germany, India, Indonesia, Italy, Canada, China, Mexico, Russia, Saudi Arabia, the US, Turkey, France, South Korea, Republic of South Africa, Japan and the EU.
About 85 percent of the global GDP accounts for these countries.
In 2013, Russia chaired the G20, and in 2014 it was replaced by Australia. This year Turkey is chairing the G20.
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