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ADB seminar considers challenges of maintaining robust growth in Asia

Baku has hosted a seminar on Rethinking Growth Potential and Growth Models as part of the Annual Meeting of the Board of Governors of the Asian Development Bank.

In his address, Azerbaijani finance minister Samir Sharifov hailed the economic development of Asian countries. “It has made 6 percent in the past 20 years. And it is a big figure,” he added.

Sharifov highlighted the development processes in Azerbaijan. “The country`s gross domestic product has grown three times in the past decade.” The minister provided information about “Azerbaijan 2020: Vision of the Future” development concept. “The main priority under this concept is the diversification of the national economy.”

Chinese Minister of Finance Lou Jiwei called Asia “the world`s most dynamic and flexible” region. “Asian Development Outlook 2015 forecasts developing Asia will achieve gross domestic product (GDP) growth of 6.3% in both 2015 and 2016. The region also grew 6.3% in 2014.”

Indonesian minister of finance Bambang Brodjonegoro stressed the importance of diversifying economy.

President and Chairperson of the ADB Board of Directors Takehiko Nakao hailed the fact that despite global financial crisis several countries managed to maintain growth rate.