Tue 26 August 2014 10:39 GMT | 4:39 Local Time
“Eurasia Hoy” American Spanish-language newspaper has published an article by international relations expert Peter Tase titled “Impressive progress during the administration of President of Azerbaijan Ilham Aliyev” (http://eurasiahoy.com/25082014-el-impresionante-progreso-de-azerbaiyan-bajo-la-gestion-del-presidente-ilham-aliyev/).
The article reads that, according to Greek mythology, Prometheus, who stole fire from the gods and brought it to the people, was chained to the Caucasus Mountains. Azerbaijan, often referred to as the “Land of Fire”, is rich in oil and gas. These natural resources are the basis of the economy of Azerbaijan and the course of socio-economic development of the country, pledged by historical leader Heydar Aliyev, P.Tase says.
The author writes that due to the geographical position of Azerbaijan, the country had bad times after the collapse of the Soviet Union. Local wars in the regions of Georgia (South Ossetia and Abkhazia) and Azerbaijan (Nagorno-Karabakh) created problems for the region’s economy. Despite the difficulties, the Administration of the President of the Heydar Aliyev had to re-build the country’s statehood. According to the expert, Heydar Aliyev was a long-sighted leader who was able to establish financial order, regional peace and to create democratic institutions in Baku.
P.Tase gives information about the geopolitical situation of Azerbaijan, noting that the Nagorno-Karabakh conflict between Armenia and Azerbaijan, which brought 35,000 victims, create a negative economic impact. Since the early 2000s, economic progress has become more prominent, attracting investors from abroad, Baku was transformed into one of the most dynamic economic centers of the world, focusing on new technologies.
The author then provides statistical data on economic growth in Azerbaijan. He notes that from 2002 to 2006 the state revenues doubled, and from 2006 to 2008 they tripled. In 2008 there was a comparative economic slowdown due to the global economic crisis, but the economy of Azerbaijan soon revived. This trend can be seen by observing the significant increase in GDP per capita. Transformation of Azerbaijan from a low-income country to an average income was fairly quick, thanks to the strong will of President Heydar Aliyev and the current leader Ilham Aliyev, the expert emphasizes.
In conclusion, the author writes that for 2014-2015 Azerbaijani leadership has developed a package of proposals on incentive mechanisms of increasing the volume of foreign investment in non-oil industry, according to which local production, labor productivity and competitiveness of goods produced in the country will increase. Expert calls for the early integration of Azerbaijan with the World Trade Organization (WTO).
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