Ilham Aliyev: Azerbaijan demonstrates stable and successful economic development

One of the things which has not changed is Azerbaijan’s stable, successful development, Azerbaijani President Ilham Aliyev said during his speech at the opening ceremony of the 2026 Annual Meetings of the Islamic Development Bank Group.

Over $350 billion has been invested in the Azerbaijani economy over the past 20 years, the head of state said.

According to him, Azerbaijan has been independent for only 35 years, the country has overcome the initial crises and achieved political, economic, and social equilibrium. This formed the basis for its current macroeconomic indicators.

“Where stability is undermined, we cannot talk even about development. So stability - political, economic, and social stability - which today is a reality in Azerbaijan," Ilham Aliyev said.

He noted that Azerbaijan has become an important actor in the global energy arena, initiating, and financing, and implementing large-scale energy infrastructure projects.

"Azerbaijan has implemented projects connecting countries across Eurasia, providing the necessary energy supply to those who need it, especially at a time when energy supply chains are vulnerable, and when energy security has become one of the main factors of every country's national security," Ilham Aliyev said.

The Azerbaijani leader noted that they need to continue to transform Azerbaijan into a transportation hub. He emphasized that Azerbaijan's plan is to double the volume of cargo going through the country.

The head of state stated that with respect to the supply of natural gas, today Azerbaijan is number one from the standpoint of the geography of our pipeline gas supplies.

"We supply natural gas to 16 countries, and that number is growing year after year,” Ilham Aliyev said.

According to him Azerbaijan has been a successful host country for many international events since the 2010 annual meeting of the IsDB Group.