Does Azerbaijan Pursue Correct Economic Diversification Policy?

Baku / 20.09.17 / Turan: A seminar on Journalist Support to Economic Reforms
is taking place at the Holiday Inn Hotel today. The event has been organized in the framework of the joint project of the Azerbaijan Fund for the Promotion of Entrepreneurship and Market Economy and the International Center for Private Enterprise (CIPE) based in the US.

The aim of the project is to attract expert assistance to the presentation of recommendations on economic reforms in Azerbaijan, the head of the Fund Sabit Bagirov said.

At the seminar experts shared their vision of the economic situation and necessary reforms in Azerbaijan.

As Doctor of Economy, Professor Inglab Ahmedov noted, the collapse of world oil prices has raised the urgency for diversification of the economy of Azerbaijan.

For such small countries as Azerbaijan, diversification of exports is necessary. However, for entering the world market with competitive products it is important to attract innovation and advanced technologies. And this is possible in conditions of attracting investments. Despite some measures in this direction, statistics
shows there is no serious progress.
Thus, in the first half of 2017, the country's economy did not attract more than 400 million US dollars, and this is a very small figure.

The head of the Economic Reforms Center Ghalib Togrul stressed the need for
improvement of anti-monopoly legislation and creation of conditions for competition.
In his view, real changes can be achieved when implementing WTO standards.

The seminar also presented presentations on other topics: "Why should subsidies be allocated to agriculture?" (expert Vahid Maharramli), "Why should a large examination be carried out?" (Professor Rasim Hasanov), "How to reduce the negative impact of devaluation on entrepreneurship? "(expert Samir Aliyev), "How can leasing be developed? "(Ilkin Garayev), and "How to increase investments" (Azer Mehdiyev). -06d--

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