President of Azerbaijan Ilham Aliyev attended the "Informal Gathering of World Economic Leaders - Defining the Imperatives for 2012" as part of the 42nd World Economic Forum annual meeting in Davos, Trend reports.
The Head of State spoke about Azerbaijan`s historical development and the history of statehood based on democratic traditions, adding the first democratic republic in the East was established in Azerbaijan.
President Aliyev pointed out that the country regained its independence in the late 20th century. He touched upon the progress achieved in the economic and political fields, political stability and other matters.
He noted energy-rich Azerbaijan plays an important role in ensuring European energy security and uses its location to contribute to regional cooperation.
The Head of State noted the country places particular emphasis on development of the non-oil sector as well.
The Azerbaijani leader dwelled on the development of information and communication technologies and industrialization. Despite the financial crisis, Azerbaijan has done much work to diversify its economy.
President Aliyev said the country faces serious challenges to develop all spheres. He expressed hope the nation would gain new successes in this direction.
