President Ilham Aliyev delivered a speech at the event.
The speech by President of Azerbaijan Ilham Aliyev:
“Dear professor Schwab!
Ladies and gentlemen. I would like to welcome you to our country again. Welcome to Azerbaijan.
I want to once again express my special thanks to Professor Schwab for the decision to hold the World Economic Forum in Baku, the kind words and comments about the development of Azerbaijan that were pronounced.
Very interesting discussions have been held at the panel sessions today. We have received information that great interest is demonstrated to the discussed topics. I am confident that the results of these discussions will create a better understanding between the business communities, political leaders and representatives of our region. Regions of Central Asia, the Caspian and Black Seas, the South Caucasus have a great potential. Perhaps now, we have been able to provide only part of the potential. But I am sure that in the coming years, we will pay more attention to these discussions. They also form the ideas, create an environment for expressing opinions and expectations, including issues which are of concern, and at times frustrating. However, the basic trend observed in the region is the integration and cooperation.
The issues we have raised today have a link to Azerbaijan. When it comes to the energy resources of the Caspian Sea, it is clear that at the present stage Azerbaijan and BP are at the forefront of the development of these resources. This company is our main strategic partner. This partnership has continued for more than 20 years. The company manages a consortium of oil and gas, where well energy companies from many regions of the world are widely represented. The favorable investment climate requires legal support. As the president of BP-Azerbaijan said no contract has ever been revised or its provisions amended because all contracts are adopted by the parliament as laws and become enforceable by the presidential decree. No one can change them. It builds confidence, prediction and stability.
In the early 1990s the only way of development and strengthening of its independence for Azerbaijan was via the political and economic reforms and investment. We are grateful to our friends and partners who were next to us, invested in Azerbaijan and showed trust in the hardest times for our country. They continue to support our country today.
Based on a very positive experience obtained in the oil and gas sector, we can say that by making changes in Azerbaijan, we created a nonenergy sector. I already said a few words about this in the morning. The support to the private sector, entrepreneurs and encouragement of local and foreign investments are among priorities today.
Twenty years ago when Azerbaijan gained independence, the share of market economy in the gross domestic product was equal to zero. And now this indicator makes 83%. This is a good result of reforms in the sphere of market economy. In other words, the period of transition from planned to market economy has ended. Currently Azerbaijan has broad opportunities in the nonenergy sector, in construction, high technologies, agriculture, petrochemical complex.
We have a state strategy aimed at raising investments into the necessary spheres to ensure the sustainable development of our country. We all know that oil and gas are not eternal. We are not only preparing to the period after the oil and gas era- though it will happen in at least 100 years- but also use the oil and gas revenues for the development of the nonenergy sector, human capital and education. Young generation benefits from that. Today the young people who obtained a good education in Azerbaijan and foreign countries are engaged in business activity in our country, contribute to the sustainable development of Azerbaijan.
Transportation sphere was also noted among the issues raised today. This is also very important. We have a favorable geographical situation. But it has no sense without infrastructure. Therefore, investment in the infrastructure of transportation, pipelines, roads, sea and air ports create special environment in the region. Thus, Azerbaijan is growing into not only a geographical but also a logistical hub of the region. Our railway project and the pipeline infrastructure promote the welfare of our country and our neighbors.
The main idea voiced at the forum today was about the ways to encourage regional cooperation. We are very interested in developing regional ties and cooperation, because we won`t be able to achieve success without regional cooperation. Our country has no access to an open sea but huge resources of hydrocarbons. Had it not for the pipelines, these resources would have been under water for another century. No success would be possible without regional cooperation, support of our neighbors and our support to them. The same words can be applied to the transportation sphere too.
This regional cooperation allows investing in reforms. As a result our economy is changing, grounds are created for our sustainable development. And this is the most important thing. Market economy, a strong political system, stability, investments, and investments into human capital, sustainable development are all very important. Currently we are speaking much about sustainable development. We are speaking about changes. I think Azerbaijan can serve an example of the way they take place. The results are obvious. Yes, much is yet to be done in the future. We need to pay more attention to reforms, development of political institutions, legal frameworks, supremacy of law.
We will be able to achieve great success with the support of our friends, the World Economic Forum which is considered No 1 forum in the world and unites politicians, world leaders, business elite.
I would like to thank professor Schwab again that seven years ago he invited Azerbaijan to take part in Davos, provided us with an opportunity to present ourselves and establish contacts, for the creation of a special atmosphere of cooperation and the decision to hold the World Economic Forum in Baku. Thank you again, dear friends! I wish you a good evening”.
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