Presentation of the book "Guide of the Milli Majlis of the Azerbaijan Republic", published by the American Chamber of Commerce took place on Friday at the Hyatt Regency Hotel.
AmCham is a nonprofit organization supporting the business climate in Azerbaijan. The Association was established in 1996, and has 240 members. Business structures entering the Association implemented about 80 percent of foreign investments in Azerbaijan.
The U.S. Ambassador to Azerbaijan, Richard Morningstar, spoke at the ceremony. America is ready to assist the development of the economic climate in Azerbaijan.
"We are interested in the growth of American companies in Azerbaijan," said Morningstar. According to him, Azerbaijan's economy has achieved significant results, but needs further development. America is also ready to assist in the diversification of the economy of Azerbaijan and development of the non-oil sector of the country. America is also interested in the growth of their companies in the energy sector. To date, only one U.S. company is present in the energy sector of Azerbaijan.
Morningstar also expressed a hope for Azerbaijan’s soon joining the WTO.
"I do not know how serious the intent of Azerbaijan is concerning joining the WTO, but we take it seriously. Joining the WTO and the adaptation to the requirements of the WTO will benefit the economy of Azerbaijan," said Morningstar.-03B06-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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