Ilham Aliyev versus Azerbaijan"s Accession to WTO
In the short term, Azerbaijan does not intend to join the WTO, President Ilham Aliyev said in the interview with Russia-24 TV.
“Azerbaijan has not yet become a member of the World Trade Organization, although we are being very actively recruited there. But after weighing all the "pros" and "cons", of course the "pros" are numerous, we felt that at this stage it would damage our agriculture, farming, private enterprise and local production,” said Aliyev.
However, independent experts do not share this view. Thus, the head of the Economic Research Center Gubad Ibadoglu, partially agreed with the President. An expert noted, with regret, that Azerbaijan did not hold any extensive discussions with experts and business representatives in respect to the positive and negative aspects of the country's accession to the WTO.
In his view, the unification of import and export duties according to WTO rules, and the simplification of customs procedures would facilitate the exit of Azerbaijani goods to international markets.
Given the decline in oil production, this question becomes particularly relevant, since entry into the WTO will promote a diversified and competitive economy.
In Azerbaijan, monopolies that control the economy, including export-import, are not interested in joining the WTO, he said.
No transparency of the customs procedures, administrative obstacles and monopolization prevent the formation of a competitive economy in Azerbaijan, providing long-term development of the country, said Ibadoglu. -06B-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review