Yerevan/Mediamax/. Minister of Economic Development of Azerbaijan Shakhin Mustafayev said that 75% of economy of the South Caucasus accounts for Azerbaijan.

He noted that the volume of strategic currency reserves of Azerbaijan reaches $ 40bln, Mediamax reports quoting Trend agency.

Shakhin Mustafayev said that 60 industrial enterprises were put into operation last year within the framework of the industrialization policy and the construction of 80 enterprises is still underway.

According to the minister, following priority directions have been defined to ensure Azerbaijan’s sustainable economic development:

- preservation of the macroeconomic stability;

- deepening of diversification of the economy;

- acceleration of industrialization, creation of industrial towns;

- expansion of the use of intensive methods in the agrarian sector;

- effective use of the transit potential, completion of the construction of Baku-Tbilisi-Ceyhan railway, International Sea Trade Port  and shipbuilding facility;

- expansion of possibilities of using information and communication technologies and development of innovative activity, sending the first Azeri artificial satellite to orbit;

- ongoing improvement of business and investment environment;

- acceleration of integration into the world economic system, creation of trading houses abroad;

- protection of the environment, expansion of possibilities of using alternative energy sources;

- development of tourism;

- provision of high social welfare and development of the human capital.