THE EFFECT OF NON-PETROLEUM SECTOR DEVELOPMENT ON AZERBAIJAN ECONOMY

Abstract

Azerbaijan is at a turning point in the transition from a fuel and energy model to an innovative model. The economic development of the country is the main aspect of state policy in the period of low oil prices. Most government programs focus on supporting the development of the non-oil sector. This is evidenced by the state concept of the Strategic Roadmap, in which a gradual revitalization of all sectors of the economy is carried out. The article discusses the main aspects of the development of tourism industries, the rational use of hydrocarbon reserves, and the development of urban development. The article also focuses on the integration of the Republic of Azerbaijan into the world economy and the restructuring of transport infrastructure, the rational use of the country's transit facilities, the increase in the competitiveness of domestic transport companies and the expansion of foreign trade due to the development of export of transport services. Based on the generalization of the current situation of some industries, the article also makes some recommendations