Journal

Volume 71, #2

   “Economic Sciences: theory and practice” is scientific, refereed, biannual journal. The Journal of “Economic Sciences: theory and practice” has been founded by Azerbaijan State University of Economics in 1994.              
The Journal has been received to registration in the centre of international ISSN (International Standard Series Number, ISSN-2220-8739). Also, it has been included by the Supreme attestation Commission under the President of Azerbaijan Republic to the list of scientific publications on economic sciences.


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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


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 countrys 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.

Key words: WTO and Azerbaijan, Azerbaijan WTO relations, Foreign Trade of Azerbaijan, trade organizations, international trade.

JEL Classification Codes: F13