The share of the non-oil sector in Azerbaijan's gross domestic product (GDP) exceeds 70 percent. However, oil and gas still account for more than 90 percent of the country's exports.

Operativ Media reports that President of Azerbaijan Ilham Aliyev said this during his speech at an event titled "Restoring Trust in a Fragmented World: The South Caucasus as a Pillar of Global Connectivity and Investment Stability," organized as part of the 2nd Azerbaijan International Investment Forum in Baku.

The head of state noted that Azerbaijan must improve this situation and further diversify its economy.

“We hope to achieve this with the help of our guests and partners who decide to work with us,” the president said.

Ilham Aliyev stated that Azerbaijan's financial capabilities allow it to acquire almost any technology, with the exception of classified technologies.

“We know which technologies we can buy, and we are doing so. Since we have the financial resources today, we can purchase almost any technology, except for classified ones. This is very important,” the head of state emphasized.

The president noted that the experience gained in the oil and gas sector serves as an example in this regard. According to him, when the first production sharing agreement was signed in 1994, more than 90 percent of the employees working in Western energy companies were foreign specialists.

“Now, the share of foreign specialists is probably around 5 percent. This has made a great contribution to the country's development and the strengthening of its potential,” Ilham Aliyev said.

The head of state added that many Azerbaijani citizens are currently working globally in various countries around the world.

“We are pleased and proud that our representatives hold important positions,” the president noted.

Ilham Aliyev emphasized the critical importance of personnel training. According to him, the literacy rate in Azerbaijan is close to 100 percent, and significant work has been done in the field of education.

The president recalled that after he was first elected president in 2003, a state program was adopted for young people to study abroad.

“Since then, thousands, perhaps tens of thousands of young people have studied abroad. Most of them have returned to the country,” the head of state said.

Ilham Aliyev emphasized that this represents the building of a potential that cannot be bought with money.

“Of course, in terms of expertise, the best practices and advanced experience of leading companies are crucial for us to move in the right direction. Our goal is to create the same environment in the mentioned areas that we have succeeded in establishing in the oil and gas sector,” the president added.