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29.02.2012 14:01

Azerbaijani Industry & Energy Minister: Country not to have alternative to oil sector until middle of century

Baku, Fineko/abc.az. The Azerbaijani government does not indulge a vain hope on the occasion of success in the development of the non-oil sector of the economy.

At a meeting of the Caspian-European Integration Business Club (CEIBC) Natig Aliyev, the Minister of Industry & Energy of Azerbaijan, has said that Azerbaijans economy is built on oil and gas industry.

"Although the non-oil industry is developing along with that in the country as well, I believe that before middle of the XXI century there will be hardly any alternative to the oil sector in Azerbaijans economy," he said.

At the same time the Azerbaijani Cabinet Ministers experts believe that with an average growth of 10% per year already in the first quarter of the century the domestic non-oil sector will reach/exceed the role of the oil sector in the countrys economy.

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