At the scientific seminar of the Institute of Economics discussed "Economic consequences of French colonialism"

 Held a scientific seminar at the Institute of Economics of the Ministry of Science and Education. The event chaired by the director general of the institute, D.Sc., professor Nazim Muzaffarli, attended by Naila Habibzade, an assistant in the international relations and work with donors from the Non-Aligned Movement Youth Organization, Elmira Zeynalova, an assistant in work with state institutions, Eldar Ismayilov, a foreign full member of the Georgian Academy of Sciences, and a number of high employees of educational institutions. 
 Head of the Department of Regulation of Foreign Economic Activity of the Institute of Economics, professor Fuad Ganbarov, made a report on "Economic consequences of French colonialism". He noted that historically France was one of the countries "standing at the cradle" of colonialism, and established colonial power in more than 20 countries in the north and west of Africa even in 1524. The territory occupied by France before World War II was 13.5 mln.2 km and controlled 35% of Africa for 300 years. French colonial policy led to the death of 2 million Africans. Only more than 1 million people were killed in Algeria's independence struggle. In 1994, 800,000 people were killed in Rwanda. This policy was carried out with very coolness. The words of former French President Francois Mitterrand, "it is not so important that there is a genocide in those countries" proves this.   
 F. Ganbarov noted that French colonialism has economic, military, political and ideological goals. For economic purposes, the natural resources of countries under colonization, precious gold, copper, nickel, diamonds, etc. includes to exploiting the deposits in accordance with their interests. Even through various financial instruments, this exploitation was deepened, in 1945, a currency called the CFA franc was issued, which is currently valid in 14 African countries. In addition, 50% of the foreign exchange reserves of these countries are stored in the French Central Bank, but they can use only 15% of these reserves during the year. These reserves yield is very little - 0.72 percent. Although these countries have reserves of more than 500 billion dollars in the French Central Bank, they borrow from international organizations at 7%. At the request of the French government, countries where the CFA franc is in circulation should give preference to French companies in domestic tenders. 
 The modern French colonies are New Caledonia, French Polynesia, Guadeloupe, Martinique, French Guiana, Reunion, Mayotte, Saint-Pierre and Mikolan, Saint-Berteleme, Saint-Martin and Walls and Futona (total area is 112,3802 km, population are 2.8 million persons). According to the researcher speaking about the economic indicators of these countries, in 2022, GDP in New Caledonia was 10.6 billion US dollars, economic growth was 3.5%, inflation was 3.84%, unemployment was 10.8%, export was 3.06 billion, import was 2 .83 billion dollars. Although the volume of GDP per person was 35745 USD, it was unevenly divided between the local population and Europeans. The indigenous Melanesians incomes were very low and unemployment was very high. 
 New Caledonia is rich with nickel reserves, and is in the 5th place in the world (7.1 million tons), and its exploitation serves to the economic interests of France. Although New Caledonia exports $3.06 billion, French imports of fuel ($903.1 million) and nuclear warheads ($331.9 million) are used directly for France's military needs. This factor also applies to French’s Polynesia. Thus, the goods imported here include $329.9 million worth of fuel and $192.9 million worth of nuclear warheads. 
 After that, were held extensive discussions on the topic and were answered questions. Also noted the necessity of conducting scientific researches in this field (economics.org.az).