Commonwealth Partnership: Azerbaijan most promising country in Caspian region

Azerbaijan is the most promising country in the Caspian region, Denis Sokolov, CEO of Commonwealth Partnership Uzbekistan, which is part of an international group of companies providing consulting, investment and agency services in the field of commercial real estate, said at the international summit of developers "Movement" in Baku, Report informs.

He noted that Azerbaijan's economy demonstrates stable GDP growth at an average of 2.5% annually.

"After a sharp decline in the first five years after gaining independence, since 1995, the average GDP growth rate of Azerbaijan began to increase steadily. Since 2018, the average annual GDP growth has been 1.8%. The highest figure was achieved in 2006 - 34.6%. This became possible due to the construction of the main export gas pipeline Baku-Tbilisi-Ceyhan, as well as the rise in oil prices," Sokolov added.

He also emphasized that Baku is the biggest and most developed city in the Caspian region.