A state with strong economy is capable of everything.
                                                National leader Heydar Aliyev

Participation of a number of global and regional business leaders of the world, heads of government and representatives of civil society in one of the most necessary regional events of the World Economic Forum in Baku on April 7-8 indicates a high economic and political influence of the state, as well its significant geostrategic importance. Themed “Strategic dialogue for the future of South Caucasus and Central Asia”, the Forum was in the spotlight of numerous influential mass media outlets.

Holding the Forum in the Azerbaijani capital of Baku testified to the new phase of development the cooperation between Azerbaijan and the World Economic Forum entered. All media outlets assessed Azerbaijan’s hosting this significant event as a sign of the prestige our country enjoys in the region and world. The contributions of the Forum for Azerbaijan can be characterized as following: 

- Baku’s hosting the Forum was one of the factors playing an important role in recognition of Azerbaijan as a global business country;

- The Forum was result of enhancement of cooperation between Azerbaijan and EU and also an important factor impacting this process;

- Holding the Forum in South Caucasus aimed at encouraging the cooperation and integration in South Caucasus and Central Asia;

- Baku’s hosting the Forum resulted from Azerbaijan’s confidently proving the problems of the region, also resources and position of the state in the Forum;

- Session “Vision of Azerbaijan: in the path of new economy” featured the republic’s economic development and economic indicators and contributed to the promotion of economic potential and economic strategy of the state.

Today Azerbaijan has a dynamically developing economic system. The key target is recognition of Azerbaijan as a state possessing natural resources, economic power, able to fight any crisis, implementing quick economic reforms. The World Economic Forum gave Azerbaijan such a chance. “The main issue Azerbaijan faces today is the diversification of our economy”, as our president said. Measures are taken to end oil dependence of economy, develop nonoil sector, encourage human resources. In the rating table of the World Economic Forum, Azerbaijan rose to the 46th place among 144 countries, which shows Azerbaijani economy is fruitfully developing and integrating into the new global intellectual economy. Development of entrepreneurship in the country, accomplishment of reforms aiming at the elimination of dependence on the energy sector, realization of action plan for the development of nonoil sector, stimulation of human resources, purposeful use of natural resources is the confirmation of the involvement in the new global intellectual economy. With high economic indices of the recent years, Azerbaijan has been changed into a reliable partner and one of the economic powers of Europe and world. The high-level organization of such an influential forum justified this image once again.