(MENAFN- AzerNews) By Sara Israfilbayova
Economic and governance reforms in Azerbaijan are deep and comprehensive, MP Tahir Mirkishili said in an interview with Azernews.
'Strategic Road Map on Major Sectors of National Economy, approved by the decree of President Ilham Aliyev dated December 6, 2016, defines the strategy of economic reforms. The main objective of the ongoing reforms is to ensure the further increase of competitiveness, inclusiveness and social welfare of the economy on the basis of sustainable economic development in the country, the MP noted.
He went on to say that according to the results of the first half of 2018, Gross Domestic Product (GDP) in Azerbaijan increased by 1.3 percent. Moreover, the non-oil sector increased by 2 percent, non-oil industry - by 8.8 percent, agricultural production - by 7.6 percent.
Mirkishili stressed that the increase in the economy has led to an increase in foreign trade, adding that during this period foreign trade turnover increased by 35 percent.
'The volume of exports increased by 34 percent, including export of non-oil products by 20 percent. Exports in foreign trade exceeded $4.2 billion, which has a positive impact on the country's balance of payments, the MP underlined.
Speaking of industrial development, deputy pointed out that industrial parks, created in recent years, have increased the volume of foreign investment in the country, provided people with new jobs, and began to replace imports by increasing the volume of industrial production.
'Currently, more than 50 residents are operating in industrial parks. The growth by 8.8 percent is a very high indicator for non-oil sector. The development of the chemical industry in Sumgayit, light industry in Mingachevir and automotive industry in Neftchala lead to significant changes in the product structure of the economy. New industrial enterprises not only will replace imports, but will also increase the volume of exports and strengthen the flow of currency to the country, according to him.
Further, touching upon the economic growth, Mirkishili said that it is expected to reach 1.5 percent by the end of the year.
'Opening of new enterprises (SOCAR Polymer in Sumgayit, nitrogen fertilizer plants, etc.) will further enhance alternative sources of economic growth. The innovations in the agricultural sector will change the structure of the agrarian sector. In general, the Azerbaijani economy, which is at a steady economic growth stage, will gradually become more and more able to improve the living conditions of the population, he concluded.
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Sara Israfilbayova is AzerNews' staff journalist, follow her on Twitter: @Sara_999Is
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