The first meeting of the Economic Council, established by the decree of the President of the Republic of Azerbaijan has been held.

The meeting was chaired by Azerbaijani Prime Minister Ali Asadov.

The members of the Economic Council - assistants to the President of Azerbaijan Shahmar Movsumov and Natig Amirov, assistants to the First Vice-President of Azerbaijan Emin Huseynov and Khalid Ahadov, Minister of Economy Mikayil Jabbarov, Minister of Finance Samir Sharifov, Minister of Labor and Social Protection of Population Sahil Babayev, Chairman of the Central Bank Elman Rustamov, Executive Director of the State Oil Fund Israfil Mammadov attended the meeting.

Addressing the event, Prime Minister Ali Asadov noted that the Economic Council, as a new platform, is an effective institution for holding collegial discussion and finding a middle ground on the hardest cases in a difficult period for the world and national economy.

“Under President Ilham Aliyev's instructions, the Economic Council should develop an economic policy framework. Along with public investments, attracting private local and foreign investment should be the key direction of the economic policy of the new period, the leading role of the private sector should be ensured, serious and drastic steps should be taken to improve the investment climate in the country,” the PM said.

The Economic Council shall submit reports on the work done to the President every six months.