Baku, May 30, AZERTAC

The Conference on "Economic reforms: Achieved results and recommendations" was co-organized by the Center for Economic Reforms Analysis and Communication and the American Chamber of Commerce in Azerbaijan (AmCham).

Opening the conference, First Deputy Prime Minister Yagub Eyyubov, Executive Director of the Center for Economic Reforms Analysis and Communication Vusal Gasimli and President of the American Chamber of Commerce in Azerbaijan Nuran Kerimov spoke about the main directions of economic reforms and challenges ahead.

It was mentioned that the dialogue and cooperation between government and private sector create favorable conditions for strengthening the role of private sector in ensuring sustained economic growth. It was noted that the “Strategic road maps for the national economy and main economic sectors” intend reforms in Azerbaijan that are thoroughly thought-out under the leadership of President Ilham Aliyev and target not only short-term but also medium and long-term goals.

Chairman of the Central Bank Elman Rustamov, Chairman of the Financial Market Supervisory Authority Rufat Aslanli, Chairman of the State Customs Committee Aydin Aliyev, Chairman of the State Committee on Property Issues Karam Hasanov, First Deputy Minister of Taxes Sahir Mammadkhanov and Deputy Minister of Economy Sahil Babayev delivered speeches and presentations in the event. The officials highlighted that macroeconomic stability and the stability of manat were ensured, inflation was lowered to a manageable level, economic growth in non-oil sector and export was increased, as a result of ongoing economic reforms carried out by President Mr. Ilham Aliyev. It was also noted that the current favorable business environment serves as a basis for expanding the activities of local and foreign businessmen and attracting investments to the country. Tax, customs, fiscal and monetary policy reforms carried out in Azerbaijan have increased entrepreneurs’ satisfaction and created greater opportunities for transparency, accountability, and efficiency.

Subsequently, representatives of international organizations and private sector participating in the conference – IFC representative in Azerbaijan Ms. Aliya Azimova, Head of Baku Office of the European Bank for Reconstruction and Development (EBRD) Ms. Ivane Duarte, Country Director of FINCA Azerbaijan Timothy Tarrant, Managing Director of SAP Azerbaijan Rufat Hajialibayov, CEO of Azerbaijan Coca-Cola Bottlers Erdinc Guzel and Deputy Director of Veyseloglu Ilgar Nuri also delivered speeches and expressed their opinions on the discussed issues. In particular it was mentioned that the ongoing economic reforms serve the interests of the private sector. In this regard, a gradual reduction in the number of procedures required for business activity, digital and on-line service options offered by various governmental bodies increase the investment attractiveness of the country. Representatives of international organizations and private sector also noted their satisfaction for being in constant dialogue with the government during the process of continuous improvement of the business environment, and gave the recommendations on attracting foreign direct investments, as well as strengthening stability in the country.

At the end of the conference, it was stressed that the main purpose of this type of events is raising awareness of the economic reforms, as well as ensuring close participation of private sector in the process of reforms and generally contributing to further increase in inclusiveness and effectiveness of the reforms. Together with AmCham and other partner organizations, the Center for Economic Reforms Analysis and Communication will continue discussions of the results of the reforms with large segments of society pursuant to the statutory requirements.