Author: Interview by Ramin Naziev, Baku, exclusively for "Vestnik Kavkaza"
From April 7-8 Baku hosted the World Economic Forum, a visiting session of the Davos Forum entitled "Strategic Dialogue on the Future of the South Caucasus and Central Asia." One of the participants of the forum, Vugar Bayramov, the director of the Center for Economic and Social Development, Doctor of Economic Science, talked about the results of the forum with Vestnik Kavkaza.
- What is the significance of holding the World Economic Forum in Baku for the city?
- It has confirmed the importance and the strengthening of the position of our country in the region. The forum did not only concern the South Caucasus, but also Central Asia. It was first time it had taken place in our region. The fact that the forum was held in Azerbaijan indicated that our country has become the leading entity in the region and is gradually increasing its role as a central actor in global affairs. The international community sees Azerbaijan as a leading country in the South Caucasus. When you consider that 82% of GDP and 78% of state budget revenues in our region come from Azerbaijan and only 20% of the economy of the South Caucasus is accounted for by Georgia and Armenia, the role of Azerbaijan as a key player in the region becomes clear.
But the forum was devoted not only to the South Caucasus, but also to the countries of Central Asia, therefore we can say that Azerbaijan is also a key country in the economy of Central Asia. The forum has repeatedly expressed the view that Azerbaijan and Kazakhstan have leading roles and are countries with an index of global business.
The region's share in global GDP is not so great, because the countries of the region are still developing, but in the last 10 years direct foreign investment in the region has increased nearly twenty-fold. The revenues of Kazakhstan and Azerbaijan have increased by eighteen times. This figure and the growing state budget lead to new investments from abroad. The fact that the forum was held in Azerbaijan indicates that in the near future the region's role in the world economy and global business will increase.
- Will the forum help expand economic cooperation between Azerbaijan and other countries participating in it?
- On the first day of the forum the countries participating in the forum took part in an electronic survey on the topic "What will be the key trend among the countries of the region in the near future?" 62% noted that integration between the regions will intensify. The same survey was held once again at the ceremony. At that time, 67% of participants agreed with the statement that in the near future integration between the countries of the region will intensify. In the course of the forum the participants have become more convinced that integration will expand. President Ilham Aliyev, who took part in the official opening, said in his opening speech that Azerbaijan is interested in integration between the countries of the South Caucasus and Central Asia. Azerbaijan and these countries share a common history.
At the forum Azerbaijan had the opportunity to present its full economic potential. Ilham Aliyev said that priority will be given to maintaining economic development in the non-oil sector. In 2012, the pace of economic development increased by 10%. The intensification of development in the non-oil sector is part of the concept of the state program "Azerbaijan 2020. A look to the future."
I think that the forum will have a positive impact on the integration of Azerbaijan, as well as of other countries in the region.
- What other topics were discussed at the forum?
- There were four panels for discussion: "Energy and Natural Resources," "Entrepreneurship and the Human Factor," "Finance and Long-term Investment," "Trade, Supply and Demand." The topic "A Vision for Central Asia and South Caucasus" was also discussed. Separate sessions on the topic "A Look at the Economy of Azerbaijan" were organized. The potentials of different countries were discussed at these sessions.
- Who participated in the forum?
- Representatives of the world's 80 largest companies from the US, UAE, Ukraine, Switzerland, South Korea and the United Kingdom, as well as Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Russia and Turkey, and officials from Latvia, the United States, Albania, Austria and the EU. Such leading international institutions as the World Bank, the Organization for Economic Cooperation and Development and the Asian Development Bank were among the participants of the form. Famous scientists and professors of leading universities in the world, representatives of leading media organizations such as CNN and the Financial Times, who covered the event, also came to the forum.
