Baku hosts World Economic Forum

Baku has hosted the World Economic Forum at the Mariott Absheron Hotel at 9.00 am today. Founder of the forum Klaus Schwab noted the role of the forum in development of South Caucasus and Azerbaijan.

62.3% of attendants of the forum voted for integration of South Caucasus and Central Asia, 22% for fragmentation, 15.7% for polarization.

Azerbaijani President Ilham Aliyev thanked Professor Schwab for having the forum in Baku. He emphasized formation of market economy in Azerbaijan in the past 20 years, development of the non-petroleum sector of economy, inflation at 1%, investments in education and communication, launch of the first satellite, investment of $130 billion to improve the economic climate.

Aliyev pointed out the Baku-Tbilisi-Kars Railway, energy memorandum signed with Europe two years ago and construction of the TANAP gas pipeline as strategic projects.

Kazakh deputy premier and president of the VTB Andrey Kostin and Kyrgyz vice premier made speeches.

Kostin said that South Caucasus and Central Asia were essential for VTB. He congratulated Azerbaijan and Kazakhstan on achievements in energy and urged them to continue non-petroleum developments and enforcement of security.