PRESIDENTS ILHAM ALIYEV AND TOOMAS HENDRIK ILVES ATTEND AZERBAIJAN-ESTONIA BUSINESS

Baku, January 13, (AzerTAc). Presidents Ilham Aliyev of Azerbaijan and Toomas
Hendrik Ilves of Estonia attended the opening ceremony of the Azerbaijan-Estonia
business forum here.

Business forum gathered 20 representatives from Estonia and 100 businessmen from
Azerbaijan. Estonian businessmen are working in ICT, finance, real estate, logistics
and other sectors economy.
The Heads of States delivered their speeches at the event.
President Ilham Aliyev said Estonian President`s visit to Azerbaijan will give an
impetus to expansion of ties between the two countries in all spheres including the
economic one. According to the Head of State, high-level political relationship
between the two nations provides every opportunity for development of economic
cooperation. He said the business forum, and exchange of views among businessmen on
concrete issues will be very important in terms of defining potential for further
expansion of the cooperation. The President noted the government of Azerbaijan would
throw its support behind real projects. Azerbaijan has led the world in economic
growth rates. Over this period, GDP grew 2.5-fold the same as industry did. Budget
expenditures have increased 12-fold from 2003 to 2008. Despite ongoing global
economic and financial crisis, Azerbaijan intends to continue its successful
development in 2009 and following years. President Ilham Aliyev pointed out
favorable climate was created for local and foreign investors in the country. The
2009 budget envisages state investments of over AZN 5 billion.
The Head of State called on Estonian businessmen to implement economic projects
jointly with Azerbaijani partners and actively participate in the projects funded by
the Azerbaijan government. According to him, Estonian businessmen may participate in
the projects both as contractors and investors.
President Ilham Aliyev noted increasing economic potential allows Azerbaijan to
invest in foreign countries as well. President Aliyev stressed the role of energy
policy in achieving today`s accomplishments, adding it is not right to link these
successes with rich oil and gas reserves only. Despite having much more energy
reserves, some countries have not developed as much as Azerbaijan did. Perfect
economic policy and development of non-oil sector at the expense of oil and gas
revenues lie behind Azerbaijan`s successes.
Azerbaijani Leader said energy security became a serious problem in the world,
stressing Azerbaijan takes an active part in ensuring West`s energy security. The
Head of State stressed the State Oil Fund of Azerbaijan won the 2007 UN Award for
Improving Transparency and World Bank named Azerbaijan as the world`s top reformer
in 2008.
President of Azerbaijan wished every success to forum participants.
Estonian President thanked Azerbaijani counterpart for hospitality. He said Baku has
changed considerably since his last visit to Azerbaijan as foreign minister of
Estonia in 2000.
Estonian President noted Estonia, which does not have rich natural resources, has
achieved much success in the ICT sector. According to him, his country is ready to
share its experience and cooperate in this field. He informed about the e-government
and other projects realized in his country. Estonian leader pointed out information
and communication technologies are widely used in Estonia in public administration,
police, healthcare, tax as well as elections.
Toomas Hendrik Ilves called on Estonian and Azerbaijani businessmen to cooperate in
order to define potential opportunities and implement real projects.
A business forum was continued afterwards.
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