'Azerbaijan successfully realizes EU neighborhood policy'

Azerbaijan and the EU have completed eight joint twinning projects within the European Neighborhood Policy. They continue executing seven projects and prepare six more projects, Deputy Economic Development Minister Sevinc Hasanova said at a EURONEST PA Committee on Economic Integration, Legal Approximation and Convergence with EU Policies meeting in Baku today.

"Azerbaijan has been successfully implementing the EU neighborhood policy," Hasanova said. She said the investments made in Azerbaijan's economy have totaled $120 billion since 1995, half of them fell to foreign investments.

"Azerbaijan expands foreign trade relations, including the EU countries," she added. "At present, about 650 Azerbaijani companies operate in 27 world countries."

She said great attention is paid to private sector development within the country.

"Today, 80 percent of GDP falls to the private sector," she added.

"Azerbaijan's GDP has increased by eight times, budget revenues 13 times and the poverty rate fell to 7.2 percent for the last eight years."


/Trend/