Azerbaijan determines new model of development given positive features of globalized economy: deputy prime minister

"Acceptable conditions should be ensured for further development of Azerbaijani economic security," Deputy Prime-Minister Abid Sharif said at the forum on long-term economic development of Azerbaijan in Baku on Oct. 21.

"The fight for interests will continue in terms of globalization of world economy. There will be new features that will impact on national economy. Therefore, we must think about the measures that are necessary to protect national interests and development of national economy using positive features of globalized economy," Sharifov said.

He said that Azerbaijani economy can reach even more qualitative and higher growth through development of a new model. "Development of programs and forecasts based on goals and tasks at the global level is required."

"While building a model of development, we must be also based on the experience of countries with free economy. However, it should be the Azerbaijani model corresponding to the mentality of the country, rich with natural resources, having intellectual and scientific-technical potential and geopolitical situation of the republic, acceptable transport conditions, and other fundamental factors," he said.

He said that Azerbaijan intends to hold economic success during post-crisis period and achieve recognition as a country with high and medium income, accumulated over the last years, good infrastructure and rich human capital.

"Azerbaijan will need a more effective approach both to determine a strategy to diversify the economy and implement it", Sharifov said.

The aim of the forum is to hold open dialogue with economists and practitioners, and discuss these strategic objectives in informal atmosphere.

The forum will focus on the experience in economic development and diversification of the economy in Ireland and Slovakia, Venezuela and Nigeria rich with natural resources.

"The main purpose is to discuss the positive and negative practices to determine the most appropriate ways for Azerbaijan. Special attention will be paid to the role of human capital. We must focus on it while diversifying the economy", Deputy Prime-Minister said.

The forum is presided over by Azerbaijani Prime-Minister Artur Rasizade and WB Managing Director Ngozi Okonjo-Iweala.

/Trend Capital/