An international conference entitled "Azerbaijan model of economic development" has been organized here by the Regional Development Center in Azerbaijan.
Opening session "Azerbaijani economy: yesterday, today and tomorrow", director of the Center said Azerbaijan suffered the least from the global economic crisis. According to him, economic accomplishments are associated with not only the energy but also the non-oil sector.
Economic Development Minister Shahin Mustafayev gave a presentation on "dynamics of development of Azerbaijan economy"
The Minister provided a background of economic progress in the country.
According to Mustafayev, social and economic policy pursued by President Ilham Aliyev macroeconomic stability was maintained, diversification of economy, non-oil sector, development of regions were sped up, stability of national currency and reliability of bank system was ensured.
He touched upon successful implementation of state social and economic programs to reduce poverty and ensure economic progress.
Mustafayev noted Azerbaijan plays significant role in ensuring the energy security of Europe. He added the Baku Declaration on AGRI project signed a few days ago among Azerbaijan, Georgia, Romania and Hungary was a next important step in this direction.
According to the Minister, the share of the private sector in Azerbaijan's economy constitutes 80 percent.
He pointed out in 2009 Azerbaijan established trade relations with about 140 countries.
The Minister also said as a result of the rapid economic development the GDP increased 2.8-fold in the country in 2004-2009, and the poverty level dropped to 11 percent. He added so far more than 900 thousand jobs have been created in the country.
Mustafayev said in spite of the global financial crisis the GDP grew by 9.3 percent in Azerbaijan in 2009. "Today the share of Azerbaijan's economy makes up 75 percent in the economy of the South Caucasus region".
The event participants heard reports by Ministry of Industry and Energy Natig Aliyev and First Vice-President of SOCAR Khoshbakt Yusifzade.
The speakers highlighted national leader of Azerbaijan Heydar Aliyev`s efforts to revive the country`s economy when he came to power in 1993. They also spoke of the national leader's successful oil strategy.

 AzerTAc