President of the Republic of Azerbaijan Ilham Aliyev met with the Chair of the Extractive Industries Transparency Initiative (EITI) Clair Short on October 8.
Clair Short said, for first time she was in Azerbaijan 20 years ago and congratulate President Ilham Aliyev for such development in Azerbaijan. She noted, Azerbaijan was one of the first states joined to the Extractive Industries Transparency Initiative and thereby demonstrated its leadership, AzVision.az reports.
President Ilham Aliyev highlighted the importance of joining the Extractive Industries Transparency Initiative for Azerbaijan. Azerbaijan started high volume oil exploitation in 2006 and revenues from the oil production created opportunities for Azerbaijan to diversify its economy ,to carry out social projects, creating necessary infrastructure and reconstruct depreciated sectors, he added.
Despite the current low prices for oil and the decrease in the state revenues , share of non-oil sector in GDP is approximately 70 per cent , which proves Azerbaijan achieved a lot in diversification of its economy.
Sides exchanged views on the perspectives of Azerbaijan’s future participation in the Extractive Industries Transparency Initiative.
`We achieved great success` - Ilham Aliyev
08 October 2015
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