Page 51 - Azerbaijan State University of Economics

E.T.Teymurov: Azerbaijan as an enabler of regional transport connectivity

process are the rapid and complex internationalization and interdependence between

world economies. In the coming decades, successful economies will need to understand

the challenges and opportunities that result from severe competition within increasingly

interdependent and culturally diverse market places.

Azerbaijan successfully implements its national development strategy entitled

―Azerbaijan 2020: look into the future‖ that builds on the country‘s latest socio-

economic achievements and provides a framework for its transition from a carbon to

a knowledge-based, competitive and diversified economy.

Azerbaijan‘s impressive economic achievements are highly appreciated by the

leading international organizations. For instance, according to the ―Global

Competitiveness Report 2014-2015‖ of the World Economic Forum (WEF), Azerbaijan

scored very high on macroeconomic environment (rank: 9) and number of procedures to

start a business (rank: 10) [pages: 118-119]. Moreover, according to the ―Global

Innovation Index 2015 report: effective innovation policies for development‖ of the

World Intellectual Property Organization (WIPO), Azerbaijan was a top performer on

ease of starting a business (12), microfinance gross loans (18) and investment (10)

[page: 169]. Besides, according to the World Bank ―Doing Business Report 2015: going

beyond efficiency‖, Azerbaijan received high scores on starting a business (12) and

registering property (10) [page: 170]. Azerbaijan‘s macroeconomic indicators will retain

its dynamics next year as well. According to the ―World Economic Outlook 2015

report: adjusting to lower commodity prices‖ of the International Monetary Fund (IMF),

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