Taking into account the potential of Muslim countries, it is necessary to expand cooperation with the member countries of the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA), Deputy Economy Minister of Azerbaijan Sahib Mammadov said at the 35th meeting of the ICCIA Board of Directors in Baku, Report informs.
According to him, over the past years, Azerbaijan's relations with the ICCIA member countries have strengthened and the interest of Muslim countries in Azerbaijan has increased: "There are quite favorable mechanisms for the successful implementation of socio-economic policy. A favorable environment has been created for attracting investments to the country. We are making every effort to expand the business environment."
According to the deputy minister, in the last 20 years, the real volume of the national economy in Azerbaijan has increased 4 times, and exports have increased 15.6 times: “The average growth rate of the economy was 4 percentage points higher than the world average, and Azerbaijan became an upper-middle-income country. The country's strategic currency reserves have increased by 41.9 times. The share of the private sector in the GDP exceeded 83%, and the employment rate approached 78%.”