BAKU, Azerbaijan, October 30. Initiatives to strengthen connectivity and to develop the various corridors, be it the energy corridor as well as also the trade corridor, presents an opportunity for Azerbaijan to diversify the economy and increase its connectivity, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said during an online briefing, Trend reports.
“It provides additional potential. In order to realize this potential, there are a certain number of important steps. One, to keep implementing the reforms that help in trade diversification and also strengthen the private sector participation in the economy,” he said.
Azour noted that the ongoing reforms to improve the performance of state-owned enterprises is also a step in the right direction.
“And the recent improvement in the geopolitical environment also constitute an opportunity to expand and accelerate the integration, especially in growing the potential of the Middle Corridor,” he added.