AZE.US
President Ilham Aliyev said Azerbaijan has maintained stable and successful development, turning political, economic and social stability into one of the country’s defining realities.
He made the remarks in Baku at the opening ceremony of the 2026 Annual Meetings of the Islamic Development Bank Group, Report said.
Aliyev noted that Azerbaijan is hosting the group’s annual meetings for the second time. The first such meeting in Baku was held in 2010, a moment he said gave strong momentum to cooperation with the Islamic Development Bank Group and supported Azerbaijan’s efforts to diversify its economy and reduce dependence on the energy sector.
“Since then, many changes have taken place in Azerbaijan and around it. One thing remains unchanged: Azerbaijan has stable, successful development,” the president said.
Aliyev said Azerbaijan has been an independent country for only 35 years, with the first years of independence marked by occupation, war and humanitarian catastrophe. After that period, he said, the country was able to ensure stable development, which he described as the foundation of success for any state.
“When stability is undermined, we cannot talk about development. Therefore, political, economic and social stability is today’s reality of Azerbaijan,” he said.
The president said Azerbaijan has become an important player on the regional and global stage, supported by strong partnerships and a broad international agenda. He said the country, despite having no access to the open sea, is working to become an international transport hub.
Aliyev said Azerbaijan currently exports natural gas to 16 countries, and that number is expected to grow. He added that the country’s oil supplies also reach a wider group of states.
“All this serves the interests of producers, transit countries and consumers,” he said.
According to Aliyev, Azerbaijan is investing heavily in infrastructure, both inside the country and beyond its borders. He said the goal is to transform Azerbaijan from a landlocked country into a major international transport and logistics hub.
The president said cargo transported through Azerbaijan currently stands at about 15 million tons, and the country aims to double that volume. He noted that geopolitical conditions and relations with neighboring countries also influence this process.
Aliyev also said Azerbaijan has become a key participant in the global energy sector. He described the country as an initiator and implementer of major energy infrastructure projects in Eurasia, especially at a time when the security and sustainability of supply routes have become a priority for many countries.
“Energy security is one of the most important criteria for all countries today,” he said.
The president also pointed to Azerbaijan’s financial position, saying the country’s external debt is only 6 percent of GDP, while foreign currency reserves exceed the external debt by 20 times.
“I think that from this point of view, Azerbaijan is among the leading countries. It has a stable financial position and a balanced budget,” Aliyev said.
He added that Azerbaijan does not expect any difficulties related to economic development. The president said the country has again begun attracting funds for new projects, including through cooperation with the Islamic Development Bank Group.
Aliyev said more than $350 billion in direct investment has been attracted to Azerbaijan’s economy over the past 20 years, with about half coming from foreign sources. He also said the non-oil and gas sector now accounts for more than 70 percent of GDP.
The president listed agriculture, food security, water management and renewable energy among the country’s future priorities. He thanked the Islamic Development Bank for supporting water infrastructure projects, including canals, dams and access to water.
Aliyev said Azerbaijan has signed agreements with international and local companies in the renewable energy sector and plans to generate 8 gigawatts of solar and wind energy by 2032.
“We should already think about exporting it. The direction is directly toward Europe. Everyone knows that they will need this energy in the future,” he said.
Aliyev also addressed the period when Azerbaijani territories were under occupation, saying that for nearly 30 years the country was involved in “meaningless negotiations.” Referring to the former OSCE Minsk Group, he said its co-chairs, France, Russia and the United States, failed to compel Armenia to withdraw from Azerbaijani territories.
He said Azerbaijan initially had hopes that the conflict could be resolved peacefully, but was repeatedly told to “go and agree,” while also being warned that military action could lead to sanctions.
The president said the occupation in the early 1990s caused a major humanitarian catastrophe, with nearly one million Azerbaijanis becoming refugees and internally displaced persons. At the time, he noted, Azerbaijan’s population was about 8 million, meaning that roughly one in every eight people was a refugee or displaced person.
Aliyev accused Armenia of committing war crimes, destroying Azerbaijani cities and villages, and creating what he described as urbicide. He also referred to the Khojaly massacre and said no sanctions were imposed on Armenia despite the scale of the destruction and humanitarian suffering.
“Today, there is a lot of talk about sanctions. Whenever something happens in different parts of the world, sanctions mechanisms are activated. But during the occupation of Azerbaijani lands, such measures were not taken against Armenia. This is a clear example of double standards in international relations,” Aliyev said.
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