Page 42 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.71, # 2, 2014, pp. 42-65

AZEBAIJAN–WTO RELATIONS, PROBLEMS AND FUTURE PERSPECTIVES

Fakhri Mammad oghlu Mammadov

master, MBA in Finance at University of Miami

BS in International Economic Relations, Azerbaijan State University of Economics

Mobile tel.: (+994 50) 3671282
E-mail: [email protected]

Received 26 August 2014; accepted 12 December 2014; published online 25 December 2014

Abstract

The present stage of the world development is increasingly characterized by globalization

and regionalization trends. Azerbaijan exerts all efforts to make its contribution to these

processes. Our country is a member of more than twenty international economic organizations

and has observer status at the World Trade Organization. The Republic of Azerbaijan is

objective to become a full-fledged member of the WTO. The country was convinced that this

membership will give a strong incentive to the transformation of the country's economy into a

market economy. Azerbaijan as other members of CIS also will oppose with difficulties in the

way to the WTO. The breakup of the Soviet Union clearly created unprecedented demolition

which may have warranted a greater adjustment period. Strong efforts of the Government of the

Azerbaijan Republic to ensure for investor friendly environment, both foreign and domestic,

continue. The membership will bring its problems that will affect the whole economy and

welfare of people in future. The difficulties of the membership mostly will be felt by low income

part of population. That’s why Azerbaijan government seriously analyzes all offers and

obligations of WTO. Azerbaijan is developing from day by day and WTO membership doesn’t

have to prevent this development. Hence, the doors of Azerbaijan are open both to local

entrepreneurs and foreign investors to reap the full benefits the country has to offer.

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