Prof. Dr. Vusal Gasimli, the Executive Director of the CAERC, spoke at the event titled ‘Turkic Investment Fund and the Union of Turkic Chambers of Commerce and Industry (TCCI): Information Meeting and B2B for Business Leaders’, held in Baku. He provided insights into key macroeconomic indicators, stating that the Azerbaijani economy has quadrupled in size over the past 30 years. In the previous year, GDP grew by more than 4%, surpassing the global average, while the growth of the non-oil and industrial sectors was nearly twice as high. He also offered a comprehensive overview of Azerbaijan’s efforts to foster competitive economic development, a dynamic and inclusive society, innovation, human capital development, and technological progress in an increasingly globalized world.

The Executive Director of CAERC underscored the investment opportunities in Azerbaijan’s liberated territories and highlighted the country’s initiatives in green energy. He specifically addressed the green energy corridor project signed between Azerbaijan, Kazakhstan, and Uzbekistan on the eve of COP29, emphasizing Azerbaijan’s comparative advantage in producing green energy at a lower cost than in Europe.

Furthermore, Gasimli analyzed Azerbaijan’s robust fiscal and external balance as a key factor in attracting investors from the Turkic world. He noted that the country’s external debt-to-GDP ratio stands at 7% and discussed policies aimed at enhancing governance efficiency through the successful implementation of monitoring and evaluation tools in state programs. Additionally, he stressed the strategic significance of the Zangezur Corridor and the Middle Corridor, highlighting their potential to integrate small and medium-sized enterprises (SMEs) into global value chains, support economic diversification among Turkic states, and create new trade opportunities.

At the event, guests were also presented with the book ‘Turkic States Economy’, prepared by CAERC.