Azerbaijan is one of the most dynamically developing countries at the crossroads of East and West, with huge economic and business potential. Over the past few decades, the country has travelled an impressive path in the development of its economy, and today it is a key player at the regional and global levels.
Azerbaijan's economic growth:
According to the World Bank, Azerbaijan's economy has grown significantly over the past decades. The country's national GDP has increased significantly and exceeded $40 billion in 2019. This growth was fuelled by a variety of factors, including the development of the oil and gas sector, as well as investments in agriculture, infrastructure and tourism. Economic growth has also contributed to poverty reduction and improved the lives of the population.
It is important to note that Azerbaijan is making efforts to diversify its economy. This allows the country to reduce its dependence on oil and gas and stimulates the development of other sectors such as information technology, agriculture and tourism.
The importance of Azerbaijan for Switzerland:
Switzerland, as one of the leading countries in Europe, has a great interest in strengthening its economic ties in the Caucasus region. Azerbaijan is an important partner for Switzerland in various fields.
The importance of Azerbaijan for Europe:
Azerbaijan also plays an important role in the context of European politics and economy.
In conclusion, Azerbaijan's growing economic and business potential is important for both Switzerland and Europe. The country provides a stable energy supply, new opportunities for investment and the development of transport corridors. All of this contributes to strengthening co-operation and economic growth, which in turn benefits all participants in this dynamic region.