CIS INTERSTATE FORUM ON LEASING UNDERWAY
Azerbaijan Republic is represented by director of the law department of the Ministry of Economic Development Elchin Nadirov.
His report entitled “Legislative and Legal base of leasing in Azerbaijan” says about positive reforms implemented under the guidance of Heydar Aliyev. E. Nadirov indicated positive changes because of foreign investments attracted to Azerbaijan. Author drew audience’ attention to how state protects small and medium business and entrepreneurship as a whole. Meetings conducted by the President Ilham Aliyev with local and foreign entrepreneurs and formation of the Council of Entrepreneurs under the President of Azerbaijan may be considered as a great contribution to development of entrepreneurship in Azerbaijan, reports says. The Economic Development Ministry representative dwelt upon the state of leasing relations in Azerbaijan and with CIS countries and stressed the necessarily of unification of national legislations regulating leasing activities.
The forum participants will present their proposals to the CIS Executive Committee in order to develop the single interstate agreement, which implies the establishment of favorable legal, economic conditions to widen the area of application of leasing operations. The decision on interstate agreement was made as early as December 2003 and working groups are now working on the text of the agreement. After the final revising, the document will be submitted to the Council of the CIS Government’s consideration and then to the Council of the CIS Heads of States.
Upon completion of the forum, Eldar Nadirov distributed among the participants a compact disc “Investment guide of Azerbaijan” providing useful information on Azerbaijan.
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