Prime Minister of Azerbaijan is confident that the KEF will reveal the region’s potential

Prime Minister of Azerbaijan is confident that the KEF will reveal the region’s potential

Prime Minister of Azerbaijan Novruz Mammadov, speaking at the International Conference of the 1st Caspian Economic Forum, expresses his hope that the KEF will give impetus to regional cooperation in trade, transport, industry, energy, investments, tourism and other areas.

He appreciates the high organization of the Caspian Exhibition of Innovative Technologies and tells that such exhibitions will contribute to the expansion of economic relations between the business communities of the region’s countries and improve its information content, as well as the discussions, held yesterday at the level of relevant agencies and business circles.

– The Caspian Sea has become an economic center where investments, international and regional projects are focused, an important factor of stability and security in the region, – noted Novruz Mammadov.

According to the Azerbaijani Prime Minister, for the first half of 2019, the trade turnover of Azerbaijan with the Caspian States has increased by more than 28%, compared to the corresponding figures of last year, and the volume of transit cargo transportations through the country on the East-West route in 2018 has amounted to more than 9 million tons. He noted the particularly strong growth in the transit of non-petroleum products – 49%. There was also an 8-fold jump in the volume of cargo transit on the North-South route.

These figures prove that transit routes are expanding, trade turnover is increasing, which ultimately leads to the prosperity of the entire region, summed up Novruz Mammadov.

– I am sure that the Caspian Economic Forum will become an important platform for discussing pressing topics of economic cooperation, will reveal the rich potential of our region and will bring tangible results for the benefit of our countries’ development, – said the Prime Minister of Azerbaijan.

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