Azerbaijan plans to double the growth of its GDP in the next decade and make the non-petroleum sector have an 80% share in the economy, Azerbaijani Minister for Economy Shakhin Mustafayev said today at a conference on politics of modernization, Trend reports.
The official believes that the goal can be achieved through stimulation of innovative development, formation of industrial zones and expansion of production based on advanced technologies.
Azerbaijani GDP in January-November 2011 increased by 0.2%, compared with the same period in 2010. It will reach 45.5 billion manats. The nominal growth of GDP is 19%.
The GDP per capita is $6362.4.
The non-petroleum sector increased by 9.5% this year, reaching 21.5 billion manats, while the petroleum sector dropped by 9.1%.
Baku is hosting an international conference entitled “Politics of modernization: new economic and social challenges”, with over 60 representatives of 33 states from four continents attending, including China, UK, France, Russia, Turkey, Italy and others.
The conference was initiated by the ruling party, Yeni Azerbaijan, to discuss the problems and emphasize the significance of international cooperation in their solution and expansion of partnership.
The official currency rate on December 21 was 0.7864 AZN / USD.
