Azerbaijan has a leading position in the areas of finance and ICT, Klaus Schwab, founder and Executive Chairman of the World Economic Forum

Azerbaijan has a leading position in the areas of finance and ICT, said founder and Executive Chairman of the World Economic Forum Klaus Schwab on Monday in Baku. The World Economic Forum Strategic Dialogue on the Future of the South Caucasus and Central Asia kicked off in Baku on Monday.

Azerbaijani President Ilham Aliyev attended the event. Agreement to hold the forum in Baku was reached on January 23 when President Ilham Aliyev met Founder and Executive Chairman of the World Economic Forum Klaus Schwab. Opening the first session of the forum, Mr. Schwab stressed the importance of the event. He praised Azerbaijan`s economic achievements.

Mr. Schwab said Azerbaijan`s favorable geographical position and highly educated workforce created ample opportunities for cooperation with the country. Klaus Schwab thanked the Azerbaijani President for friendly treatment and cooperation. The event then featured the demonstration of a short film about economic development of the South Caucasus and Central Asia. Frederick Starr, Chairman, Central Asia-Caucasus Institute, Johns Hopkins University, highlighted prospects for cooperation among the regional countries. President Ilham Aliyev made a speech at the event. The President drew the participants` attention to Azerbaijan`s economic development.

"In the last ten years our primary goal has been to diversify the national economy," said the Azerbaijani leader, adding the country`s economy has seen a three-fold growth. The President spoke of Azerbaijan`s prospering space industry, referring to the launch of the country`s first communications satellite in February. Other speakers at the first session included Bakytzhan Sagintayev, First Deputy Prime Minister of Kazakhstan, Andrey Kostin, Chairman and Chief Executive Officer, VTB Bank, Russian Federation, Djoomart Otorbaev, First Vice-Prime Minister of the Kyrgyz Republic, and Taner Yildiz, Minister of Energy and Natural Resources of Turkey.