Michael Lally Calls Areas Where Reforms Are Important for Business Development

In March 2017 a US-Azeri business relations conference will be held. This was stated by the Assistant Advisor of the US Secretary of Commerce for Europe, the Middle East and Africa, Michael Lally.

He noted that the purpose of his visit to Baku was to discuss further co-operation and economic co-operation ties between the two countries' business.

According to Lalli, during the visit of Azerbaijani President Ilham Aliyev to the United States in the spring of this year an agreement was reached on the development of relations between the business circles of the two countries, which is important for the diversification of Azerbaijan's economy and the development of non-oil sector.

He also reminded that this year Aliyev met with members of the American Chamber of Commerce (AmCham) and noted the contribution that this business structure can make to diversify the economy of Azerbaijan.

After the meeting, AmCham delivered an important document of 16 recommendations that can give impetus to the development of business in Azerbaijan.

Lally also discussed these recommendations called White Paper at his meeting with Aliyev yesterday.

He expressed the hope that the discussion and implementation of the White Paper will help improve the business environment, strengthen the rule of law, as well as implement qualitative reforms in the economy and taxes.

Lally said that over the past three years, Azerbaijan was visited by representatives of 35 US companies that conducted more than 200 meetings. As a result of these discussions, the company Honeywel opened its office in Azerbaijan.

Lally pointed out that the proposals of AmCham include a point on the attraction of investments into the non-oil sector.  This should contribute to the reforms. According to Lally, American business shows interest in Azerbaijan.

He also stressed that Azerbaijan is the only country in the region, which has direct flights to and from the United States, which contributes to the flow of goods and the development of interpersonal and business relationships.

In addition, there is great potential for the development of relations in the fields of information technology, communications and agriculture. There is cooperation in the field of space. Owing to this, the Azerbaijani satellite was launched thanks to the use of American technology.

The expansion of business opportunities needs reforms in taxes, law enforcement and judiciary, as well as increase in transparency.

That is, the interests of the private sector should be taken into account, the government should carry out certain work to let the voices of business be heard, and several important measures should be taken to improve the legislation, Lally said.    -03C06--