ECONOMY
BAKU HOSTS MEETING OF AZERBAIJAN-EU SUBCOMMITTEE ON TRADE, ECONOMIC AND RELATED LEGAL AFFAIRS
BAKU HOSTS MEETING OF AZERBAIJAN-EU SUBCOMMITTEE Baku, June 17 (AZERTAC). The 8th meeting of Azerbaijan-EU Subcommittee on Trade, Economic and Related Legal Affairs was held at the Azerbaijan Ministry of Economic Development.
The meeting discussed development of trade ties and Azerbaijan-EU cooperation.
The meeting participants were briefed about the success of ongoing reforms in Azerbaijan. effective using monetary reserves, government`s supporting business, maintaining national currency stability and improving investment climate allowed to weather the impact of financial crisis in Azerbaijan. Azerbaijan was named as the world`s top reformer, according to World Bank`s Doing Business report. Extensive reforms moved the country far up the ranks, from 96 to 33 in the overall ease of doing business.
The sub-committee praised socio-economic reforms in Azerbaijan.
Session participants stressed the importance of the EU`s Eastern Partnership program, which will help elevate Azerbaijan-EU relations to the new level.
Azerbaijani side was informed about the integration within EU, impact of financial crisis on EU countries and measures to curb the crisis. Azerbaijani side provided information to the European Commission about the obligations resulting from agreement on partnership and cooperation with EU.
Discussions revolved around bring local legislation in line with EU requirements.
The event was attended by representatives of the Ministries of Economic Development, Foreign Affairs, Finance, Justice, Tax, Industry and Energy, Agriculture, Health, Central Bank, State Committee for Standardization, Metrology and Patent, State Customs Committee, State Committee for Property Affairs, State Statistics Committee, Copyright Agency, State Agency for Purchase and Sale.
EU was represented by head of the EU office in Azerbaijan Alan Waddams.
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