President: BTK railway and North-South corridor will transform Azerbaijan into irreplaceable transportation hub

Baku. 15 November. REPORT.AZ/ Azerbaijani President Ilham Aliyev has said the Baku-Tbilisi-Kars railway and North-South corridor will transform Azerbaijan into an irreplaceable transportation hub.

“After the launch of the Baku-Tbilisi-Kars railway, our efforts are focused on increasing the volume of cargo. We are now working on this issue,” Report informs, the head of state told a solemn ceremony marking the 25th anniversary of the founding of the New Azerbaijan Party.

President Ilham Aliyev stressed the importance of taking additional measures towards establishing the North-South transport corridor. “We have almost completed all works in our territory. These two projects will transform Azerbaijan into a crucial transportation hub. This will pay a very important role in ensuring both our political and economic interests.”

“No other country has developed as speedily as Azerbaijan over the past 14 years from the point of view of economic reforms," said President Ilham Aliyev.

"The economy has grown more than three times and poverty has been reduced from 50 to 5 per cent. The foreign debt is equal to 20 per cent of the GDP. Our foreign exchange reserves total to 100 per cent of the GDP.”

He emphasized that international economic organizations highly appreciate Azerbaijan’s successes. The head of state said that Azerbaijan ranked 35th in the latest economic competitiveness report of the Davos Forum.

The President also said that developing the IT sector and launching the third satellite are key priorities on Azerbaijan`s agenda.

“We will continue ensuring stability in Azerbaijan,” said President of Azerbaijan.

“No country can improve without stability. Today we see that in various parts of the world when stability is disrupted, there are no investments and there is no improvement in social welfare.”

"Today billions of dollars are invested by foreign entrepreneurs in Azerbaijan. The Azerbaijani people live in comfort, prosperity and security," President Ilham Aliyev added.