Welcome to AmCham Azerbaijan

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Banking, Finance and Insurance

The Committee oversees the entire financial services industry, including banking and insurance industries. The committee concentrates on those issues that can off set American and Azerbaijan-US joint venture business in Azerbaijan.  Finance committee works towards bringing greater understanding of the Azerbaijan Financial system.  Better consideration of financial systems and a more robust financial infrastructure helps us to ensure both sustainable economic growth and social progress within the country. AmCham’s financial committee exists to raise and allocate finance. AmCham commonly undertake activities in order to bring organization’s together to provide a range of financial services for its members.BFI Committee seeks to support and promote the interests of AmCham’s Banking, Finance and Insurance members. It does this by facilitating discussions on issues affecting the sector, inviting guest speakers and by seeking to act as an advocacy body to defend and promote the interests of the sector as a whole with respect to Government and regulatory bodies.Powered by Froala Editor

Legal & Compliance

Legal & Compliance Committee was formed as a working group in 2017 to address legal and compliance issues faced by AmCham member companies operating in the Republic of Azerbaijan. The working group gained committee status in 2018.AmCham Legal and Compliance Committee focuses on the analysis of legislative and compliance issues influencing the investment climate in Azerbaijan. Input to AmCham White Paper is one of the main activities of the Committee. Leveraging the expertise of lawyers, economists and business leaders the Committee provides a ground for constructive discussion of issues affecting the investment attractiveness in Azerbaijan. Committee also provide strategic guidance and recommendations to the Board of Directors on the Chamber’s communication with regulatory authorities, law makers and government. Review and monitor the Chamber’s compliance and risk management activities and the effectiveness of any compliance and risk management programs established by the Chamber is another focus of the Committee. 

Procurement

The Working Group on Procurement was established at the end of 2018.  In 2019, the WG held a number of memorable events with participation of foreign procurement experts and local top managers. During 2019, WG formed a group of professionals with a passion for procurement and a desire to positively change the procurement environment in the country. The result of this work was a position paper with a set of proposals aimed to improve public sector procurement. In 2020, the WG was transferred to the status of a Committee and the committee's mission is to help the business community and the public sector to improve procurement processes, to educate and promote best practices and transparency in procurement processes and share successful stories within the Amcham community.Powered by Froala Editor

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Some Facts about AmCham Azerbaijan

The American Chamber of Commerce in Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, AmCham is composed of over 260 Regular and Associate Member Companies active in every sector of the Azerbaijani economy. AmCham Azerbaijan represents nearly 80% of all foreign investment, as well as a significant portion of local investment, in Azerbaijan. Through its 9 industry sector committees, Member Companies are able to share information, raise issues of common concern and propose possible solutions. Being one of the largest and the most influential organizations in the country AmCham provides the best networking opportunities. Other membership benefits include access to the data on the latest tendencies in the market (through such information resources as AmCham White Papers, AmCham Annual Reports, IMPACT Azerbaijan Quarterly Magazines, Annual National Employee Salary Surveys, Quarterly Inflation Surveys); Member-to-Member Discount Program offers; U.S. Business Visa Facilitation Program benefits, etc.

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MEMBERSHIP TYPES

There are two types of AmCham affiliation: MEMBERS and ASSOCIATES with annual fees applied

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Immediately stay up to date with every members news updates

AMENDMENTS OF THE CABINET OF MINISTERS TO THE RESOLUTION "NORMS OF BUSINESS TRIP EXPENSES"

18 April 2024

SABIS SUN INTERNATIONAL SCHOOL ANNOUNCES EXCLUSIVE CORPORATE DISCOUNT FOR AMCHAM MEMBERS

15 April 2024

Deloitte Azerbaijan is pleased to provide you with this brief overview of the Azerbaijani personal tax and compliance procedures. For your convenience, this guide is presented as a list of FAQs and you can contact us to discuss your specific situation.

9 April 2024

Master class "Strategic Risk Management" by EY Academy of Business CCA

2 April 2024

Nowruz happenings at Four Seasons Hotel Baku

19 March 2024

IFTAR AT COURTYARD BAKU

19 March 2024

Passion moves us forward

19 March 2024

Spring Happenings at Four Seasons Hotel Baku

12 March 2024

Dive into Digital with Cubics: Simple Solutions, Big Results

7 March 2024

March Happenings at Four Seasons Hotel Baku

5 March 2024

Women's Day Happenings at Four Seasons Hotel Baku

19 February 2024

Unlocking Productivity and Connection: How SmartPoint Intranet Transforms Corporate Culture

19 February 2024

PwC INVITATION to Online Webinar: Mastering Dispute Resolution: Unveiling the Innovation of the Legal Consortium for Arbitration and Mediation (LCAM)

15 February 2024

Cyber and Technology News Digest for January

14 February 2024

February Happenings at Four Seasons Hotel Baku

13 February 2024

SMART business – a partner in building a comprehensive IT ecosystem of solutions for transforming business processes

12 February 2024

Key Transfer Pricing Compliance Aspects for 2024

30 January 2024

Book ski instructors directly on Shahdag website!

30 January 2024

Heydar Aliyev Cup - Registration Now Open!

29 January 2024

February Happenings at Four Seasons Hotel Baku

29 January 2024

Live stream: IFRS Consolidation in Practice with SAP BPC

9 January 2024

January Happenings at FS Baku

8 January 2024

SİMA İmza became the winner of the MilliNet and NETTY competitions

19 December 2023

Top law firm in Central Asia - Chambers Asia-Pacific 2024 ranks Dentons as a leader in the region

14 December 2023

Dentons affirms its strong standing in Europe in 2023 edition of IFLR1000.

14 December 2023

Festive Happenings at Four Seasons Hotel Baku

11 December 2023

Festive Happenings at Four Seasons Hotel Baku

6 December 2023

Exciting Partnership Alert: Bloom Group is now partners with BBDO CA, part of BBDO Worldwide – the most awarded global advertising agency

30 November 2023

Festive Season at Hilton Baku

30 November 2023

Get a business loan from PASHA Bank with “SİMA İmza” without leaving the office!

28 November 2023

FOUR SEASONS HOTEL BAKU DECEMBER HAPPENINGS

27 November 2023

Number of users of SİMA İmza application has exceeded 500,000

23 November 2023

AzInTelecom starts cooperation with an influential company of South Africa

22 November 2023

Introducing Festive Offers at Four Seasons Hotel Baku

20 November 2023

Apply for a loan with SİMA İmza without providing any documents!

20 November 2023

Discover the world of opportunities at InMerge Innovation Summit!

20 November 2023

"Educational Management Summit" will be organized jointly by Roof Academic Training Educational Company and Facemark

20 November 2023

Purchase a house with SİMA İmza in the SHCA “Affordable Housing” system!

17 November 2023

FOUR SEASONS HOTEL BAKU NOVEMBER HAPPENINGS

6 November 2023

November Happenings at Four Seasons Hotel Baku

30 October 2023

SOME AMENDMENTS AND CHANGES TO THE TAX CODE OF THE REPUBLIC OF AZERBAIJAN FOR 2024

26 October 2023

EY announces the launch of EY Entrepreneur Of The Year™ 2023-2024

4 October 2023

Prevent someone else from signing a document on your behalf with SİMA İmza!

2 October 2023

“CEHİZ” LAYİHƏSİ": DIALOGUE BETWEEN GENERATIONS AND STUDYING DOWRY CULTURE IN AZERBAIJAN

22 September 2023

VOLVO: For Life

20 September 2023

Hospitality Law in Azerbaijan

20 September 2023

5000 AZN gift for teachers and their family members at Greenville Residence!

20 September 2023

12.5 thousand IMEI codes connected to the network with more than 1.3 million numbers were assigned the “clone” status

19 September 2023

International Astronautical Congress in Baku brings excitement and business opportunities

11 September 2023

SEPTEMBER HAPPENINGS AT FS HOTEL BAKU

11 September 2023

Log in the electronic cabinet on E-taxes.gov.az using SİMA Token!

11 September 2023

74th International Astronautical Congress

5 September 2023

SEPTEMBER HAPENINGS AT FOUR SEASONS HOTEL BAKU

4 September 2023

Motorcycle Festival at Shahdag Mountain Resort

24 August 2023

Founding partner of Legalize Law Firm becomes a Fellow of the Chartered Institute of Arbitrators

18 August 2023

Deadline for Sponsorship and Exhibition Application at the 74th International Astronautical Congress extended

18 August 2023

Amelioration and Water Farm partially transferred its informatıon systems to the Government Cloud

17 August 2023

ROOF Academic Training yeni TOP TALKS layihəsi ilə qarşınızdadır

15 August 2023

Opening new bank accounts has become easier with SİMA

15 August 2023

Veyseloglu Group of Companies Announces its Monthly Retail Price Index

8 August 2023

Never Ending Summer Happenings at Four Seasons Hotel Baku

7 August 2023

Legal Updates presented by BAKER TILLY

4 August 2023

Digitalization on Boards 5th Edition by Amrop

2 August 2023

Enhance Your Career in Auditing: Enroll in EKVITA Academy's Training Program

31 July 2023

Destination Fabulous Summer Happenings at Four Seasons Hotel Baku

31 July 2023

Limited Time Offer by PASHA Property Management for AMCHAM Members at Knightsbridge Residence

26 July 2023

EKVITA CONDUCTS ANTI-BRIBERY COMPLIANCE TRAINING FOR PRIVATE AND PUBLIC SECTOR ORGANIZATIONS.

11 July 2023

Exclusive Offer for AmCham Members: 5% Discount on Greenville Premium Residence Apartment Purchases

6 July 2023

Tax and Legal newsletter presented by BAKER TILLY

6 July 2023

5 tools to increase corporate sales with Cubics BMS

25 June 2023

Tax and Accounting Bulletin 2023

23 May 2023

Latest changes to legislation in April 2023

4 May 2023

Trade in your premium car to Volvo and get a special discount of 2 000 AZN

1 May 2023

SPRING HAPPENINGS AT FS HOTEL BAKU

1 May 2023

Four Seasons Hotel Baku Spring Happenings

3 April 2023

Four Seasons Hotel Baku February Happenings

13 February 2023

FOUR SEASONS HOTEL BAKU FEBRUARY HAPPENINGS

6 February 2023

“Nar” continues vocational training for special people in 2023

24 January 2023

Remaining time to start of AmCham Legal & Compliance and FMCG Committees' Joint meeting

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Important highlights from AmCham Events
16 April 2024

AmCham Azerbaijan held its second event on Stakeholders' Dialogue for Climate Change – Sustainable supply chain practices.

Within the framework of preparation for the 2024 UN Climate Change Conference, AmCham Azerbaijan is hosting a series of six events titled "Stakeholders' Dialogue for Climate Change." This initiative is designed to foster dialogue, awareness, and collaboration among businesses in Azerbaijan in preparation for the upcoming UNFCCC COP 29 event, to be held in Azerbaijan in November 2024. Building on this initiative, on April 16, 2024, AmCham Sustainable Development & Corporate Impact Committee organized a joint meeting with Procurement Committees on discussing the sustainable supply chain practices for the further growth of the businesses.The meeting was opened with the welcome notes from Ms. Gulnara Aslanbayli, AmCham Executive Director, Mr. Jeyhun Atayev, Deputy Chairperson of SD&CI Committee and Ms. Natavan Mamedova, Deputy Chairperson of Procurement Committee, who welcomed guests and gave them brief overview on the “Stakeholders' Dialogue” initiative.Welcome address by Port of Baku Chief Operations Officer, Mr. Eugene Seah and Program Manager for Sustainable Development Initiatives, Mr. Gurban Karimbayli, highlighted the role of ESG-related activities in the implementation of the port's development strategy. Later, Mr. Mahammad Aliyev, Port of Baku Projects Manager, shared an overview of green solutions in the port operations.Afterwards, team members of BP Azerbaijan - Nurlan Mahmudov, Advanced Drilling Fluids Plant Manager and Ms. Narmin Jafarova, Drilling Fluids Analyst, shared their presentation on how to minimize waste, maximize resource efficiency and promote sustainable practices across operations by incorporating circular economy principles into business model.The second guest speaker, Maria Teresa Pisani, Chief of Trade Facilitation Section under Economic Cooperation and Trade Division of the United Nations Economic Commission for Europe, made presentation on exploration of the benefits for businesses from sustainability practices in supply chain management- with the special focus on global experiences, particularly in developing and transit countries.The presentations were accompanied by the Q&A sessions and after the closing remarks, the meeting participants had the tour to Port of Baku facilities.AmCham Sustainable Development & Corporate Impact Committee meetings, a pivotal part of the series, delve into crucial topics such as understanding the significance of the UN Climate Change Conference for business circles in Azerbaijan, sustainable supply chain practices, role of corporate governance in eco-friendly business operations, global non-financial reporting practices vis-à-vis the Azerbaijani legal framework, legal regulations surrounding Azerbaijan's ESG Agenda, as well as available tax incentives. Additionally, discussions explore the status and prospects of the circular economy in Azerbaijan.It should be noted that AmCham Azerbaijan recognizes the critical importance of businesses in addressing global challenges such as climate change. As Azerbaijan approaches COP29, it is imperative for businesses to understand their role in shaping climate policies, contributing to sustainability efforts, and leveraging opportunities for innovation and growth. February committee meeting aims to elucidate why businesses should actively participate in COP29 and how their engagement can yield mutual benefits. By fostering dialogue and collaboration among businesses, policymakers and stakeholders, the Chamber seeks to catalyze meaningful action towards a more sustainable and resilient future.

4 April 2024

AmChams in Eurasia Forge Collaborative Pathways for Regional Prosperity

On March 28, 2024, Leadership representatives from American Chambers of Commerce (AmChams) in Azerbaijan, Bulgaria, Georgia, Greece, Kyrgyzstan, Tajikistan, Turkey, and Uzbekistan engaged in an important meeting fostering regional growth and collaboration. Discussions centered on organizing regular regional events and trade missions to stimulate bilateral business opportunities, while also emphasizing knowledge exchange in areas such as public-private dialogue, advocacy, and sustainability. The meeting identified sector-specific collaboration opportunities in energy, healthcare, manufacturing, and tourism, with a focus on advocating for federal support to bolster AmCham membership and engagement. Additionally, engagement in middle corridor initiatives was highlighted to enhance infrastructure development and regulatory alignment.The event underscores the collective commitment of AmChams to drive regional prosperity and growth. 

2 April 2024

AmCham Human Resources and Labor Committee's April meeting

On April 2, 2024, AmCham’s HR & Labor Committee organized an engaging event on “Retention and Engagement”. The event started with the presentation of Ms. Cagla Gurdal, Head of Rewards Data Intelligence of WTW, capturing the overview of attraction and retention trends in Azerbaijan.Guest speaker Ms. Elnara Mammadova, BP Vice President People and Culture for the AGT region and Russia, spoke about retaining and engaging talent in a challenging market, sharing practical solutions from bp experience. Ms.Mammadova focused on the importance of setting vision, empowering, creating culture and assessing employee needs.Guest speaker Mr. Mehman Heydarov, Project Leader of Talent Management Department in Kapital Bank spoke about company’s strategy to retain talents. He focused on the role of EVP, on engagement tools applied within the company, highlighting the role of listening, developing and rewarding talents. Event participants had the opportunity to ask questions and exchange ideas on retention and engagement strategies. 

1 April 2024

AmCham's Marketing, Communications and Business Development (MCBD) Committee's March Workshop

On March 29, 2024, AmCham Marketing, Communications, and Business Development (MCBD) committee hosted its March Workshop dedicated to “Redefining Business: Generative AI's Influence on Marketing & Sales Tactics and Product Evolution”. The guest speaker of the workshop was Mr. Emin Aliev, Chief Business Development Officer (CBDO) of Evido. Firstly, Ms. Aysel Suleymanova, Chairperson of MCBD committee, extended a warm welcome to all participants, introduced the guest speaker, and provided a brief overview of the meeting.Afterwards, Mr. Emin Aliev took the stage to deliver an informative speech on “Redefining Business: Generative AI's Influence on Marketing & Sales Tactics and Product Evolution”. During his presentation, Mr. Aliev comprehensively talked about how Generative AI will enhance customer service, marketing, and product development for humans. The workshop was concluded with an engaging and interactive Q&A session, where participants had the opportunity to exchange their views and share valuable insights.

14 March 2024

AmCham Azerbaijan's Nowruz Celebration Cocktail Reception

On March 14, 2024, AmCham Azerbaijan organized a Cocktail Reception dedicated to Nowruz Celebration. As per usual, the AmCham event brought together CEOs and associates of AmCham member companies, board members and committee chairpersons. Executive Director of AmCham Azerbaijan Ms. Gulnara Aslanbayli officially opened the event, greeting the guests and providing a brief foreword of the event. During her speech, she emphasized the importance of Nowruz in Azerbaijani due to its historical, cultural, and traditional roots.The event featured launching of the AmCham CSR Platform. Head coordinator of the project Ms. Sheyda Mustafabayli delivered a comprehensive presentation covering various insights and guidance on this exciting initiative that serves as a space on collaboration, connecting contributors and project owners to work together on meaningful corporate and social responsibility projects. Following the presentation, the Project Curator, AmCham Board member Mr. Shahin Mammadov, expressed his gratitude to the AmCham team, the AmCham Sustainable Development and Corporate Impact Committee, and all contributors in developing the project. Additionally, he highlighted the importance of this initiative, emphasizing its potential to foster collaboration and drive meaningful corporate and social responsibility projects. Mr. Mammadov also encouraged the business community and non-profit organizations to actively engage in the platform, share their CSR ideas, and showcase their creative CSR portfolios.Afterwards, the Reception continued with several traditional show programs involving national drum instruments, dance music performance, and a DJ show. Additionally, the reception also featured a special lottery where the guests got an opportunity to win an exclusive prize offered by AmCham Azerbaijan. 

13 March 2024

AmCham Legal & Compliance and Human Resources Committee's joint meeting

On March 13, 2024, AmCham Legal & Compliance committee organized a joint meeting along with the AmCham HR & Labor committee dedicated to the topic “Promoting SPEAK-UP as a tool to strengthen business integrity and create safe work environment”.Invited guest speakers of the meeting were Ms. Jamila Islamova, Ethics and Compliance Lead at BP Azerbaijan, Georgia and Turkey Region, Ms. Sevda Huseynova, Ethics & Compliance Officer at SOCAR Midstream, Mr. Martin Zapata, Academic Programs Senior Officer at the International Anti-Corruption Academy, and Mr. Rafael Abdullayev, Senior Human Resources Manager at NEQSOL Holding.The meeting was opened with the welcome speeches of Mr. Kamil Valiyev, Chairperson of AmCham Legal & Compliance committee and Ms. Chinara Ahmadova, Deputy Chairperson of AmCham HR & Labor Committee. Afterwards, as moderator of the meeting, Mr. Toghrul Ahmadov, Deputy Chairperson of Legal & Compliance committee took the floor and gave a brief foreword of the session. The meeting continued with speeches and presentations by guest speakers where they touched upon SPEAK-UP, its impact on compliance program and its role in mitigating compliance and integrity risks. They also comprehensively discussed the root causes behind people not speaking up and key intervention points, as well as the role of leaders in promoting speak-up culture in organizations and the importance of creating a morally safe work environment that is free from ethical hazards. The session was followed by the Q&A session and closing remarks.

23 February 2024

AmCham Human Resources and Labor Committee's February meeting

On February 23, 2024, AmCham’s HR & Labor Committee organized an engaging workshop on “Coaching and Technology”. The workshop aimed to demystify the buzz around coaching and reveal its practical benefits in today's ever-changing work landscape.Mr. Parviz Tahirov, the Chairperson of the HR Committee, welcomed the participants and introduced the guest speakers. He emphasized coaching was one of the popular development tools in today’s world.Guest speakers were Ms. Ozlem Sarioglu, PCC, an accomplished professional coach, author, and co-founder of SparkUs Digital Coaching Platform, a World Economic Forum-invited startup and Ms. Dilara Jafarli, an experienced leader and Head of Learning & Development at NEQSOL Holding. During the workshop, Ms. Ozlem Sarioglu talked and demonstrated how coaching can enhance skills and improve performance. She described the digital tools that make coaching accessible to all, revolutionizing professional development on a large scale. Ms. Dilara Jafarli talked on NEQSOL experience and how integrating coaching with technology can reshape HR, leading to increased employee engagement, better performance, and overall organizational success. Workshop participants explored opportunities to use the power of coaching and technology in transforming organizations for the future. 

22 February 2024

AmCham Members’ February Luncheon

On February 22, 2024, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its Members' February Luncheon, featuring esteemed guest speaker H.E. Mr. Mark Libby, U.S. Ambassador to Azerbaijan.The event commenced with a warm welcome from Ms. Gulnara Aslanbayli, the Executive Director of AmCham Azerbaijan. Ms. Aslanbayli provided updates on upcoming plans and events of the Chamber. Ms. Aslanbayli also acknowledged recent leadership changes within key committees and presented recognition plaques to outgoing Chairpersons: Ms. Ellada Alishova, Chairperson of the HR Committee; Ms. Rena Afandiyeva, Deputy Chairperson of the HR Committee; and Mr. Tural Vazirov, Chairperson of the Procurement Committee, for their dedicated service.Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, extended a gracious welcome to H.E. Mr. Mark Libby, expressing sincere gratitude for his participation. President Nasrullayeva-Muduroglu underscored the Chamber's commitment to supporting businesses in Azerbaijan and thanked Ambassador Libby and the U.S. Embassy for their contributions.U.S. Ambassador to Azerbaijan, Mr. Mark Libby, warmly welcomed all attendees and expressed sincere appreciation to the Chamber for facilitating constructive dialogue within the business community. Ambassador Libby emphasized the United States' commitment to supporting Azerbaijan's business sector and fostering strong commercial ties. He highlighted the collaborative efforts of the U.S. Embassy, AmCham, and U.S. businesses to drive innovation and growth in Azerbaijan.Thereafter, Ambassador Libby participated in an open and interactive Q&A session, where he addressed all questions from the audience.The luncheon also featured presentations from member companies highlighting their portfolios and activity directions. Speakers included Mr. Jeyhun Hajiyev, CEO of PASHA Capital; Mr. Geray Yusifov, Founder of ADVIAD; and Mr. Dayanat Ahmadov, Managing Partner of Amrop Azerbaijan.The event concluded with closing remarks from Ms. Gulnara Aslanbayli, thanking all participants for their attendance and active engagement. 

30 January 2024

Intellectual Property Best Practices Conference was held

On January 30, 2024, a conference on “Intellectual Property Best Practices” was jointly organized between the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) and the Commercial Law Development Program (CLDP) under the U.S. Department of Commerce. The event brought together about 100 participants, including representatives of AmCham member companies, international experts, and public entities.Executive Director of AmCham Azerbaijan Ms. Gulnara Aslanbayli opened the Conference, welcoming the participants and noting AmCham’s long-standing tradition of holding legal & compliance conferences. The Conference continued with opening remarks from Hugo Guevara, Deputy Chief of Mission, U.S. Embassy and Mr. Zaur Allahverdizade, Vice-President of AmCham, who emphasized the importance of IP protection in overall business environment and investment attraction. The Conference continued with engaging presentations and discussion panels on various topics such as effects of counterfeiting on international brands, open source communities' role in digital innovation, fighting illegal software use, competition in the IP ecosystem, etc.On January 31 – February 1, a two-day workshop was held for attorneys and law students on the same topics with the experts from the U.S. Customs and Border Protection and U.S and Georgian attorney experts. The two-day seminar started with opening remarks from AmCham Legal & Compliance Committee’s Deputy Chairperson Ms. Sharaf Asgarova, who welcomed the attorneys and law students. The Workshop consisted relevant case-studies related to actual IP and counterfeit cases examined by the U.S. and Georgian courts, with very active involvement of the participants. Following the workshop, the attendees received certificates of recognition from the U.S. Department of Commerce. 

24 January 2024

AmCham Azerbaijan Presented White Paper 2023 to the Membership

On January 24,2024, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its Members’ January Luncheon dedicated to the presentation of the subsequent publication of White Paper 2023 being prepared and presented to Azerbaijan government biannually in the aim of supporting various fields of Azerbaijan’s economy. The event was attended by key stakeholders, including members of the AmCham Board of Directors, Committee chairpersons, government officials, AmCham members, and representatives of the diplomatic corps. The recommendations reflected in previous years’ White Papers were added to state programs and some of the recommendations resulted in corresponding amendments in legislation which positively aspired business environment in Azerbaijan.Ms. Gulnara Aslanbayli, Executive Director of AmCham Azerbaijan, opened the luncheon by expressing gratitude to the participants and acknowledging their invaluable contributions to White Paper 2024.Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, delivered a compelling speech highlighting key aspects of the White Paper and emphasizing its significance in shaping the country's economic trajectory. She remarked, "As we reflect on the achievements of 2024, we celebrate the restoration of our country's territorial integrity, coupled with a dedication to ongoing reforms for economic enhancement. Today, we present the 8th edition of AmCham's White Paper, a testament to our commitment to a more perfect business environment and an investor-friendly market."Ms. Nasrullayeva-Muduroglu continued, providing insights into the structure of White Paper 2024. "The document consists of 9 Chapters, encompassing recommendations on concrete areas such tax, customs, finance, insurance, ICT, labor, marketing, sustainability, procurement, FMCG, judiciary, and more. Among the total of 114 recommendations, some of the most noteworthy ones include amendments to vital legislative acts, improvements in equal access to the market and financial inclusion for banking services, the establishment of rating agencies, integration of the circular economy concept, tax forecasting in the tobacco and alcohol industry, issues related to the enforcement of court decisions, digital economy, start-up ecosystem, data protection, and procedures for trade facilitation."Afterwards, AmCham committee chairpersons delved into the specific recommendations within their areas of expertise. Ms. Narmin Aslanova, Chairperson of the Tax and Customs Committee, Mr. Babek Aghayev, Chairperson of the Digital Economy and Innovations Committee, Mr. Jeyhun Mammadbayli, Chairperson of the Banking, Finance, and Insurance Committee, Mr. Kamil Valiyev, Chairperson of the Legal and Compliance Committee, Ms. Lala Afandi, Deputy Chairperson of the FMCG Committee, Mr. Tural Vazirov, Chairperson of the Procurement Committee, and Ms. Aysel Suleymanova, Chairperson of the MCBD Working Group, presented detailed insights into the recommendations outlined in the White Paper. A notable highlight of the event was the certificate presenting ceremony, honoring the chairpersons and deputy chairpersons of committees for their instrumental contributions to the development of the White Paper.To access the White Paper and gain a deeper understanding of its contents, please following links:EN:  White Paper.AZ: White Paper/AZ