After the oil sector, the Information-Communication Technologies (ICT) sector will play an important role in the development of Azerbaijan's economy, Communication and Information Technologies Minister of Azerbaijan Ali Abbasov told journalists on Monday.

He said that issues related to the development of the ICT sector and its role in the framework of the development 'Azerbaijan 2020: view to the future' will be discussed with foreign experts during of the Baku Futures Forum being held on June 3 in Baku.

"The ICT sector is a priority direction of the development of economies of the whole world. Today, interest in its development is evident in many countries which depend on the energy sector. The experience of Azerbaijan in the right transformation of the oil revenues into the development of the ICT sector, as well as in the provision of a stable development of the economy in the future interests many countries. This issue will be one of the themes to be discussed within the framework of the conference," the minister said.

According to the minister, a two-fold increase of the economic potential at the expense of the oil sector is being provided in 'Azerbaijan-2020: view to the future'. The main goal set out is the four-fold growth of the ICT sector.

"With this purpose the realisation of a number of measures such as the creation of a favourable competitive environment, development of labour resources and attraction of investments is initiated. A network of technology parks is being created in Azerbaijan and for their financial support a number of funds and particularly an ICT development fund is being formed.

"As for the issue of the development of human resources, the development of the education sector is also provided in this sphere. Here we are talking about the creation of the higher educational institution on ICT, an Information Technologies University," Abbasov said.