December 23, 2011 - 14:50 AMT
Baku bids for 2020 Olympics

Baku officially launched its bid to host the 2020 Olympics and Paralympics, revealing a logo inspired by carpets, arguably Azerbaijan's most famous export.

The city is considered the outsider in the race which pitches it against Doha, Istanbul, Madrid, Rome and Tokyo but there was plenty of optimism at the event attended by Chingiz Huseynzade, the vice-president of the bid and of the National Olympic Committee, where as well as the logo he unveiled the campaign's slogan, "Together We Can".

With fast-growing economy, Azerbaijan can claim to be financially stronger than Spain and Italy, whose bids are both threatening to be undermined by their countries economic crisis, Inside the Games reported.