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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
Sustainable Development and Corporate Impact
PurposeAcknowledging a changing world, the Sustainable Development and Corporate Impact Committee seeks to find and promote the appropriate balance between the economic, environmental and social aspects of the business community to ensure sustainability for current and future generations. More and more businesses wish to incorporate sustainable practices in their day-to-day operations. The Sustainable Development and Corporate Impact Committee aims to assist these businesses with education, support and recognition through workshops and other initiatives. Responsibilities The main mission of the Sustainable Development and Corporate Impact Committee is to be at the forefront of driving long-term sustainable value for our members and the business community by encouraging the development of sustainability initiatives and programs and supporting their implementation. The Committee serves as a platform to further support and enhance sustainable business practices. Activities of the Committee fall into the following categories: • Organizing events such as breakfasts or lunches with sustainability experts• Lobbying for more sustainable business practices in Azerbaijan and beyond• Engaging the business community to be proactive in the change towards a more sustainable society • Conducting capacity-building initiatives such as workshops and seminars with a sustainability focus • Creating partnership opportunities and synergies among AmCham members Powered by Froala Editor
Marketing, Communications and Business Development Working Group
The strategy of the working group is based on a demand-driven transformation approach focused on mega-trends, relevance and value proposition for the marketers and their key stakeholders. As the leading business association in the country, AmCham aims to address these expectations of its members in order to support and maintain a transparent and sustainable business environment in Azerbaijan.
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.
Higher Personality Reviews
Every feedback on the Chamber is a boost to our improvement
Speech of Heydar Aliyev, the President of the Republic of Azerbaijan at the opening ceremony of the American Chamber of Commerce in Azerbaijan – “Hyatt Regency Nakhchivan” Ho ...
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National Leader of the Republic of Azerbaijan
As I know, part of the recently implemented reforms were developed on the basis of AmCham ideas, I would like to thank you for that.
The President of the Republic of Azerbaijan
“There are the many important contributions this Chamber has made, including through its White Papers, to improving the business climate in Azerbaijan, to fostering dialogue betw ...
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Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
“AmCham plays an immense role in improving the country’s business environment."
Deputy Assistant Secretary of State for European and Eurasian Affairs
Remarks for the AmCham by Ambassador Lee Litzenberger
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Ambassador of the United States of America to the Republic of Azerbaijan
National Leader of the Republic of Azerbaijan
Ladies and Gentlemen!
Dear guests!
I cordially greet you all and say you “Welcome to Azerbaijan.” The organized start of work of American Chamber of Commerce is a distinguished event in the history of US- Azerbaijan relationships.
After gaining of independence, the Republic of Azerbaijan tries to establish economic cooperation with all countries of the world and the United State of America occupies a special place amongst them. US-Azerbaijan cooperation was successfully developing in the course of the last years. I highly appreciate it and we will do our best for the further development of these relationships. This cooperation perfectly fits the strategic policy of the independent Republic of Azerbaijan in the economic sphere.
After gaining independence Azerbaijan has chosen the way of the democratic, legal and civilized state building, carrying out of reforms in the economy of the republic and principles of relating its economy to the world economy. We think that for the development of social-economic situation of the Republic we must cooperate closely with foreign countries and all companies of the world and have joint business in the economic sphere between Azerbaijan and other countries, companies. These are main works carried out in the sphere of development of Azerbaijani economy on the basis of market economy and attraction of foreign investment to our Republic on the permanent basis.
As you know, Azerbaijan has abundant natural resources. Our country has a big industrial, agricultural potential. From the viewpoint of its geographical location, our Republic has big possibilities for the economic cooperation with World Community. The world experience has proved repeatedly that no country, even the biggest one is able to develop its economy within its boundaries up to the required level. Integration of world economy, the mutual cooperation in the economic field of the countries each with other is beneficial for every country and in general it is the only way of development of the world economy.
After gaining state independence we took for the main principle this experience and made efforts for constant attraction of foreign investment to Azerbaijan and joining of the economy of our republic to the world economy, we will undertake these efforts in the future as well. The results achieved in the field of joint business between Azerbaijan and the US companies within the last years are vivid example of that.
It is well known that one of the factors and the main one of attraction of the US and other companies to Azerbaijan is oil and gas fields of our country. The existence of abundant oil and gas fields at the territory of the Republic of Azerbaijan and Azerbaijani sector of the Caspian Sea is well known all over the world. Azerbaijan is an ancient and great oil country. The achievements of our republic in this field are known world-wide. Now we are living a new stage, a new period of the oil and gas industry of Azerbaijan. This stage is related to joint exploration of these oil and gas fields of Azerbaijan with great oil companies of the world.
As you know we signed the first large contract two years ago – in September, 1994. This contract is known in the world history as the “Contract of Century.” This contract was signed between State Oil Company of Azerbaijan Republic and the Consortium of foreign oil companies. The US companies take more numerous in this Consortium. It is with a great sense of pleasure that I want to say that the results of these contracts in the course of the passed two years were positive and the programs envisaged in contract are being implemented consecutively. If some people had doubts and others wanted to see the positive results of this contract when we were going to sign it, now these results turned into reality. And those, who had doubts, should give them up.
As you know, two other large oil contracts were signed afterwards. The US companies participated at the contract signed a year ago. Tomorrow a new oil contract is to be signed and the main parties of the contract are still the US oil companies.
These contracts and their practical implementation provided coming of both the US and many other companies to Azerbaijan. I am pleased to say that offices of not only the US oil companies, but those dealing with other spheres are opened in Azerbaijan. All this is perfect results of the US-Azerbaijan economic cooperation and the big potential achieved by us.
The importance of this potential is that all these works will give more perfect results in the future. Therefore, I think that opening of the US Chamber of Commerce in Azerbaijan and inauguration of its office is very remarkable today and will serve for the new stage in the future. We did our best up to present to encourage not only the US companies but every individual, representing the United States who comes to Azerbaijan and want to make business here. However, now, after establishment of the US Chamber of Commerce and starting of its organized activity, we will do our work with more success.
I know that the US Chamber of Commerce is established in Azerbaijan to regulate, support, guide and make prognostication for all the US companies and businessmen in Azerbaijan. I welcome this initiative and highly appreciate it. I think that the Chamber of Commerce will work here freely and successfully.
You may be confident that the support on the level of Azerbaijani state, government and all state bodies will be rendered to the Chamber of Commerce of the United States in order to ensure its successful activity. This is of the same importance both for you and for us. We are very interested in it. Because, as I have mentioned earlier, we want more US companies to come to Azerbaijan.
We are carrying out economic reforms and privatization process on the basis of principles of market economy, of course, we are going on this way and we will go in the future. Both you and all Azerbaijani society see the positive results of the implemented economic reforms and privatization process in the last period. The offices of foreign companies, their joint-ventures, private enterprises, large and beautiful shops has changed the image of Azerbaijan, especially that of Baku. All this pleases us.
Today I want to state that we are consecutively adhering the way of economic reforms and we will adhere this way in the future too. We are promptly implementing the privatization process and take serious measures in this sphere. For example, I have liquidated the State Agency of Grain Products two days ago and submitted all enterprises and bodies of this Agency to the State Property Committee for privatization.
This is a measure taken not for privatization of separate enterprises, but an entire state structure. Perhaps, this is an ordinary case for our guests that came from the United States of America. However, it is not at all an ordinary case for us. Because, you must know that adoption of a decision for liquidation and privatization of large state bodies that have been under aegis of the government for a long time requires courage and we implement it with courage. We need foreign investments and cooperation with the US companies for implementation of these measures.
The US companies should try to participate at the privatization process underway in Azerbaijan and take their own place in the implementation of market economy in the economic life of our country. I invite you to this.
I declare for you and all our partners from the United States of America that the state ad president of the Republic of Azerbaijan will steadfastly develop the economy of our country on the basis of market economy, implementation of economic reforms and privatization. Therefore, I always say to foreign companies, including American companies to not be late. The sooner you come to Azerbaijan the better place you will have here.
You must know that a favorable social and political situation is established in Azerbaijan for establishing a successful business here. We have adopted some very favorable laws for attraction of foreign investments to Azerbaijan. We are going to adopt such laws in the future too. If there is an annoying factor in any sphere for doing this work we will eliminate it. If any part of any law inhibit the successful implementation of our work, we will amend these laws and adopt new ones. You can be sure in it.
In order to do all this work we are closely cooperating with International Monetary Fund, World Bank and European Union. I would like to say that I am very pleased with this cooperation and I think that this cooperation is a perfect mean for implementation of economic reforms in Azerbaijan and strengthening of the economy of our country.
I would like to say once again that I am very pleased with our today`s meeting. I wish successes to all of you and all companies and businessmen of the United States of America. I hope that on the basis of results achieved up to now, the US-Azerbaijan economic cooperation will develop more quickly.
In previous meetings with the President of the United States of America, Mr. Bill Clinton, as well as meetings and negotiation held with vice-president Albert Gore held a few days ago in Lisbon, we discussed development of the US-Azerbaijan relationships in all spheres and we were of the same opinion. I openly stated the position of Azerbaijan in this sphere.
I highly appreciate the friendship and cooperation established with state bodies of the United State of America, as well as between the US and Azerbaijani Presidents, and I assure you that Azerbaijan will always remain faithful to these relationships of friendship and cooperation.
I cordially congratulate you once again on the occasion of opening ceremony of American Chamber of Commerce in Azerbaijan. I wish you all successes, happiness and health.
Thank you.
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Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
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Ambassador of the United States of America to the Republic of Azerbaijan
AmCham has long been a key partner of the U.S. Embassy, serving as the voice of the business community and working to advance our shared vision of a prosperous, stable, and globally-integrated Azerbaijan. It’s an honor for me to speak to you all today.
As you probably know, I arrived in Baku just three weeks ago. Although I’m still quite new to the country, I can’t help but feel optimistic about the opportunities ahead. On my second day at work, I presented my credentials to President Aliyev and we had a warm and open discussion on the strength of U.S-Azerbaijan relations and the ways in which we can advance them even further.
Since then, I’ve met with many government officials, civil society members, and business leaders. I’ve also gotten to know the dedicated team of Americans and Azerbaijanis working at the U.S. Embassy.
All of this has shown me that our bilateral relationship is based on a solid foundation and benefits from the dedication of people in both our countries who are committed to strengthening it. I would like to take a brief moment to recognize one of those people, whom you all certainly know well.
Deputy Chief of Mission William Gill has done an excellent job as Chargé d’Affaires at the U.S. Embassy this past year, as well as a member of the AmCham Board since 2016. Thank you very much, Will, for your tireless dedication to improving the ties between the United States and to Azerbaijan.
Will’s work is just one example of the United States’ decades-long engagement in Azerbaijan. In addition, I am also excited that Will encouraged and supported USAID’s Mission Director Jay Singh to engage with AmCham as a key partner in his forward-leaning private sector strategy. Let me recognize Jay for his role in deepening this engagement.
The United States has been here since the beginning; we have stood shoulder to shoulder with the Azerbaijani people for 27 years to help you maintain your independence and sovereignty, expand and diversify your economy, and develop democratically.
Since 1992, the U.S. government has provided over $1.3 billion in assistance through programs supporting humanitarian relief, economic development, the rule of law, and much more.
Over 6,000 Azerbaijanis have traveled to the United States on U.S.-government sponsored exchange programs. These alumni now occupy leading positions in your government, civil society, the private sector, and, of course, AmCham.
These programs are born from our belief that a stable and prosperous Azerbaijan is essential for advancing our common goals of stability and prosperity throughout the region and across the globe. We believe your success and our success are mutually reinforcing.
And I believe that everyone in this room has an important role to play in achieving that success. A dynamic and engaged business community in a vibrant and open private sector is the only way to compete effectively in the global economy.
Although much work remains to be done, there is a great deal to be proud of.
One area of unquestioned economic success for Azerbaijan has been in the energy sector. Caspian energy resources have not only enriched Azerbaijan, but also helped it play an important role in Europe.
The Southern Gas Corridor is not only an important project for Azerbaijan, it is also a key component to guaranteeing the political and energy security of Europe. Just as the United States played a critical role in supporting the Baku-Tbilisi-Ceyhan pipeline in the late 1990s, we will continue to support the Azerbaijani government and its private sector partners to ensure the completion of the Southern Gas Corridor.
However, Azerbaijan’s leadership has recognized that even though oil and gas are important, the Azerbaijani economy needs to diversify away from its dependence on hydrocarbons.
We support the government’s stated goal to have multiple, sustainable sources of revenue; new opportunities for investment; and a creative, innovative cadre of entrepreneurs working in an open economy to boost economic growth and prosperity. The U.S. can play an important role in this effort.
In support of these economic diversification efforts, the United States Agency for International Development – USAID – has invested resources and technical expertise in Azerbaijan’s farmers to accelerate agricultural sector growth. USAID has also invested in youth and women to promote small business development and increase economic participation.
Next week, USAID is also sponsoring the first ever Illinois-Azerbaijan Agricultural Forum in Chicago, facilitating linkages and investment opportunities between American and Azerbaijani companies to further advance the sector.
This forum will be attended by the Minister of Agriculture and senior members of the Azerbaijani government. AmCham’s support of the Forum has been instrumental. We hope that this collaboration between USAID and AmCham will result in future events such as this and further the economic relationship between our countries, and the partnership between USAID and AmCham.
We are encouraged by the significant steps the government has taken to reform the State Customs Committee, the tax system, and the delivery of government services through the ASAN service centers. These reforms send an important signal that Azerbaijan is interested in creating a welcoming and attractive investment climate.
AmCham has played an important part in this process. Your biennial White Paper has proven to be an excellent way for the business community to have an open dialogue with the government. That conversation has been fruitful, and I believe it will continue to be so in the future. And you can count on the continued support of the U.S. Embassy for AmCham.
These positive steps, however, are just the first in a journey that must continue.
The global economy is large, and it is very competitive. Every country in the world is fighting to attract foreign investment and to develop industries that create jobs and exports.
When making investment decisions, U.S. companies compare Azerbaijan with other potential destinations. They look at the size, health, and transparency of the domestic market. They look at the quality of the labor pool. They look at the regulatory and tax regimes. And they look at the predictability of the legal environment.
Ultimately, U.S. companies want to invest in markets in which they can compete on a level playing field and know that their investments will be protected by the rule of law.
One case in point is the protection of intellectual property rights. When it comes to attracting foreign investment, countries that have strong intellectual property right protections have an immediate advantage over those which do not.
At a fundamental level, foreign investors want to know that they will receive a fair price for the goods and services they sell and that their innovations are protected.
Another issue is Azerbaijan’s lack of integration into the global trading system. Opening your market brings with it benefits that far outweigh the challenges of integrating with the global economy.
We support a clear and sustained effort by Azerbaijan to accede to the World Trade Organization as one of the best ways to realize the goals of economic diversification and attracting foreign investment.
U.S. companies also want to work in truly free and transparent markets. Economies that are dominated by a handful of individuals or entities will struggle to attract foreign investment and produce the entrepreneurs that make any economy truly dynamic.
Most importantly, U.S. companies want to work in environments that respect and celebrate the rule of law. Azerbaijan has made remarkable progress in adopting reforms in recent years, as demonstrated by its improvement in the World Bank’s “Doing Business” Report.
Ensuring that these reforms are properly applied requires predictability and transparency in the way an independent judiciary reaches decisions and government agencies implement regulations.
I see great potential for deepening economic ties between Azerbaijan and the United States, and indeed the rest of the world. From my initial discussions with Azerbaijani officials and business leaders, I know I am not alone in this optimism.
The U.S. Embassy will remain a committed partner in strengthening those ties through our assistance, our advocacy, and our people-to-people exchanges. Of course, while we will continue to do our part, much of the work falls on those in this room.
A healthy private sector is the foundation of a healthy economy. As the premier business organization in Azerbaijan, AmCham is in a better position than anyone else to innovate, promote job creation, build business ties, and advocate for additional necessary reforms to strengthen Azerbaijan’s competitiveness to attract new investments.
You understand the power of people, of creativity, of adaptation, and growth. You understand the power of private enterprise when given the freedom to compete in a fair, transparent, and predictable environment.
I look forward to working with the AmCham Board of Directors, the Executive Director and her capable staff, and the entire AmCham membership to deepen ties between our two countries and promote prosperity in Azerbaijan.
Thank you for having me today and thank you for welcoming me so warmly to your country.
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Legal updates
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Changes in Tax Code
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Legal updates
11 January 2022
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PASHA Holding and its strategic assets will plant 11,000 trees in Zangilan.
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Veyseloglu Group of Companies has donated 30,000 manat to the YASHAT Foundation
23 December 2021
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ÇİMTAŞ STEEL IS TO DELIVER THE WORLD'S TALLEST FLAGPOLE
16 December 2021
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AMENDMENTS TO THE TAX CODE OF THE REPUBLIC OF AZERBAIJAN
14 December 2021
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Veyseloglu Presents Its Monthly Retail Index for November
9 December 2021
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KPMG in Azerbaijan welcomes new Partner, Head of Advisory
19 November 2021
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THE RESULTS OF THE "FROM IDEA TO SUCCESSFUL BUSINESS" STARTUP COMPETITION HAVE BEEN ANNOUNCED!
16 November 2021
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Veyseloglu Group of Companies announced the Retail Index for October
15 November 2021
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EKVITA is looking for Legal Manager
19 October 2021
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NEQSOL Holding announces partnership between NEQSOL Academy and LinkedIn Learning
7 October 2021
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Veyseloglu Group of Companies announced the Retail Index for September
5 October 2021
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A Cup of Knowledge from Deloitte Academy
30 September 2021
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PwC Azerbaijan Times: Tax Update, Issue 03
29 September 2021
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PwC Azerbaijan's Special Issue of Legislation update
24 September 2021
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Legal Updates | August
21 September 2021
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Join the 1st Azerbaijan International Reconstruction and Development of Karabakh Exhibition, “Rebuild Karabakh 2021” on October 20-22!
16 September 2021
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Tekfen Construction’s Azerbaijan Country Manager appointed as the Azerbaijan Representative of DTIK (World Turkish Business Council)
9 September 2021
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Introducing the leadership team of our market-leading Dentons Baku office.
27 August 2021
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EMPLOYMENT AGREEMENT vs CIVIL LAW CONTRACT
1 July 2021
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Foreign nationals traveling to Azerbaijan required to have a COVID-19 passport
10 June 2021
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New Amendments Introduced to the Labor Code
2 June 2021
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“Unico” LLC construction company has launched “Smart Young Engineer”- a month-long paid Summer Internship Program for 2021.
27 May 2021
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EKVITA Newsletter
16 May 2021
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EKVITA Legal Updates | March
30 April 2021
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PwC Azerbaijan Times-issue-01-2021
27 April 2021
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Compliance management systems — Requirements with guidance for use
27 April 2021
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The 2021 edition of Dentons Guide to Investing in renewable energy projects in Europe
2 April 2021
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Draft changes to the Tax Code
2 March 2021
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Coca-Cola Wins U.S. Secretary of State’s Award for Corporate Excellence for Women’s Economic Empowerment Efforts in Azerbaijan
3 February 2021
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TURKISH AIRLINES STUDENT PRIVILIGES
28 January 2021
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EY Business Brief
5 June 2020
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Deloitte News Update
15 May 2020
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Deloitte Tax News
15 May 2020
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BHM Legal Update
15 May 2020
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PwC Azerbaijan’s COVID-19 Alert Special Edition Issue № 13
27 April 2020
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Key support measures available to business
23 April 2020
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EY Business Brief
21 April 2020
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EY Business Brief
6 April 2020
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MBA in Finance
5 February 2020
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BHM Legal Updates
17 January 2020
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PwC Azerbaijan Times Issue #1
16 January 2020
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Company (LLC) registration in Azerbaijan (Innovation in registration of an LLC)
29 December 2019
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PwC Azerbaijan Times Issue #12
12 November 2019
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Remaining time to start of AmCham HR Committee: National Salary Survey
COMMITTEE MEETING
Important highlights from AmCham Events
AmCham Executive Director Participated at the Meeting of the “Property registration and lease” WG
On 27 January 2023, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli attended the meeting of the “Property registration and lease” Working Group led by the State Service for Property Issues under the Ministry of Economy. The event was organized by the Commission on Business Environment and International Ratings. During the meeting, amendments to the law on property registration and notaries have been discussed by the different government officials. The meeting also featured the presentation of the 2023 Road Map for the implementation of improvements related to the "Business Location (registration and rental of property)" indicator of the World Bank Group's "Business Enabling Environment" project. Afterwards, participants were involved in the Q&A session, providing their suggestions and feedbacks.
AmCham GALA Concert dedicated to 30th Anniversary of Diplomatic Relations between Azerbaijan and the U.S.
On December 16, 2022, AmCham Azerbaijan hosted a GALA Concert dedicated to 30th Anniversary of Diplomatic Relations between the United States and Azerbaijan. The GALA evening featured performance of Azerbaijan State Symphony Orchestra named after U. Hajibayli conducted by People's Artist of Azerbaijan Mr. Yalchin Adigezalov, and solo performance by Ms. Seljan Nasibli. During the concert, guests enjoyed the impressive classical music performance of the compositions of most celebrated Azerbaijani and U.S. composers: Samuel Barber, Fikrat Amirov, George Gershwin and Gara Garayev .Around 500 guests including high-ranking government officials, ambassadors, representatives of diplomatic corps, senior executives from business community and member companies attend the event. Click for the highlights from the Gala Concert Click for all the media from the Gala Concert
AmCham Executive Director Ms. Gulnara Aslanbayli participated at the Impact Week in Brussels
At the beginning of December 2022, Ms. Gulnara Aslanbayli participated at the Impact Week in Brussels. The purpose of the visit was the Chamber’s intention to create new platforms uniting people who bring innovation to Azerbaijani society through socially responsible and sustainability initiatives. Impact Week is a unique network at the intersection of finance and purpose, driven by knowledge and focused on impact. It strives to increase prosperity and social progress for all, fix inequalities and injustices and preserve the planet. It builds synergies that tackle critical social and environmental problems at scale – and change mindsets. To accelerate positive change for people and planet, EVPA organized Impact week in Brussels to bring changemakers together to mobilize capital for true social transformation. Lots of fresh ideas that can enable net-zero economy, ease inequalities and elevate economic and social prospects for all were presented at the Impact week.It should be emphasized C Summit was organized in the framework of the Impact week. The C Summit was central to the goals of Impact Week, offering a way for corporates to see the whole picture of impact – the better to make that picture a collaborative masterpiece.The joint sessions were dedicated to the discussion in the broader context of the impact ecosystem and leverage corporate impact efforts to form meaningful coalitions around 10 action area – net-zero prosperity, future of the health, impact heroes, impact cities, impact united, food, smart impact, impact synergies and transformative impact.
15th Annual AmCham Black & White Ball 2022
On December 3, 2022, the American Chamber of Commerce of Azerbaijan (AmCham Azerbaijan) hosted its 15th Annual Black & White Ball in Gulustan Palace. Traditionally the Ball brought together business leaders, government officials, ambassadors in an absolutely unique environment.With more than 600 guests, this spectacular landmark event became the highlight of AmCham’s social calendar. This year’s Ball – themed as “Angels & Demons” – embraced the atmosphere of the grandiose evening of elegance and grace with guests enjoying spectacular live music, magnificent entertainment show, outstanding program and experience. The audience was welcomed with the official opening speeches by Executive Director of AmCham Azerbaijan Ms. Gulnara Aslanbayli, Mr. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan as well as Mr. Hugo Guevara, Deputy Chief of Mission at the U.S. Embassy in Baku.Afterwards, the floor was passed to the chief representatives of the Platinum and Gold Sponsors:Platinum Sponsor: BP - Mr. Bakhtiyar Aslanbayli, Vice President for the Caspian region, Communications and External Affairs. Gold Sponsors:Procter & Gamble Inc. Azerbaijan Branch -Mr. Deger Kurtaslanoglu, General ManagerPMD Group - Mr. Dayanat Sadullayev, Chief Executive Officer PASHA Insurance OJSC – Ms. Ulviyya Jabbarova, Chief Executive Officer Farchitects LLC - Mr. Farid Safquliyev, Chief Executive Officer It should be noted that a large number of generous Silver, Bronze and Other sponsors have also contributed to the organization of the event.The evening was concluded with a surprising raffle draw with over 120 winning tickets and dances till dawn. The top prizes of the raffle draw were round trip tickets to Milan, Italy and NY, U.S. Please note that raffle tickets starting from 1 to 120 are all the lucky winning tickets. Winning tickets’ list can be reviewed from the following link. Please check your raffle coupons and come to AmCham office to pick up the prizes. Prizes will be given only with the lucky tickets provided. Click for the highlights from the Ball Click for all the media from the Ball
Two-day CSR Workshop was held in Shamakhi
On November 27-28, 2022, two-day CSR Workshop jointly organized by AmCham Azerbaijan and the U.S. Embassy in Azerbaijan titled the “Business Benefit of Effective Corporate Social Impact Strategy” was held in Shamakhi. The workshop was aimed to strengthen members' capacity and build shared language to promote collaboration, advance CSR, and build ties of cooperation between private and public sectors. The invited guest speaker was Mais Abbas Abousy, Attorney-Advisor with the Commercial Law Development Program (CLDP) in the Office of the General Counsel of the U.S. Department of Commerce. The workshop was moderated by Alisa Oyler, skilled facilitator, trainer, and curriculum designer with experience working in over 20 countries.The first day of the workshop featured comprehensive presentation on “Business case for CSR/ESG” by Mais Abbas Abousy and group discussion on how to identify business-based social purpose and the people that could benefit. Afterwards, to explore examples of CSR strategy in Azerbaijan, the panel discussion was held with the participation of: Blake Dawgert, Economic and Commercial Officer at the U.S. Embassy in Azerbaijan, Fidan Tofidi, Corporate Stakeholders Engagement Division Head at Pasha Bank, and Rena Tahirova, Sustainable Development and Communication Manager at Holcim Azerbaijan. The first day of the event was followed by an interactive session on partnership and knowledge-sharing models where participants shared their views from different perspectives. The second day of the workshop started with the brief presentations of the participants from government sectors on CSR/ESG: what they have done and what are their future plans. Kamran Abbaszada, Leading Specialist in Sustainable Development and Social Policy department at the Ministry of Economy in Azerbaijan, Haji Aliyev, Head of the International Relations and Project Management department at the State Employment Agency and Javanshir Maharramov, SME agency regional representative for Shirvan region shared their agency’s experiences and plans with all participants. During the final session, participants created individual strategies to advance CSR/ESG and involved in group work with peer coaching.The workshop was concluded by overview of the next steps/actions and awarding certificates to the participants for their active contributions.
AmCham Members’ November Luncheon with Minister Mr. Anar Karimov
On November 25, 2022, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its Members’ November Luncheon with honorable guest speaker Mr. Anar Karimov, Minister of Culture of the Republic of Azerbaijan. Around 180 people participated in the Luncheon including high-ranking government officials, representatives of diplomatic corps, senior executives from business community, member companies and media representatives.Opening the event, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed the participants of the Luncheon. Ms. Aslanbayli briefly touched upon the projects implemented by the Chamber, as well as informed the participants on the upcoming plans and events. Information on Large-scale Education research project with ADA University, Black & White Ball 2022 and AmCham GALA concert were delivered to the audience. During the speech, Ms. Aslanbayli also announced newly joined members of the Chamber: Azerbaijan Supermarket LLC; Grand Logistics Center LLC; HRC Engineering & Resources Ltd and AzSmart LLC.President of AmCham Azerbaijan, Ms. Nargiz Nasrullayeva-Muduroglu introduced the honorable guest speaker minister Mr. Anar Karimov and expressed her gratitude for his participation at the Luncheon. Ms. Nasrullayeva-Muduroglu emphasized sustained activity of AmCham Azerbaijan on continuing supporting and promoting the interests of foreign and local businesses in Azerbaijan, as well as significance of the established fruitful dialogue and successful cooperation with government institutions in this direction. Mr. Anar Karimov welcomed and expressed his gratitude to all AmCham members and guests. Mr. Karimov delivered a comprehensive presentation on the strategic view of the Ministry of Culture, its main goals and objectives, public-private sector partnership, future reforms and current activities. Mr. Minister gave an informative speech on the cultural heritage, located in the territory of Azerbaijan, reflected on the cultural diversity of our country and expressed the importance of protecting and restoring all cultural and religious monuments, regardless of their origin, within the framework of the restoration process in the territories freed from occupation. Afterwards, Mr. Elnar Mammadli, Head of the Foreign Relations Department of AzTV announced the premier of the teaser of the first season called “Atabeys: Shamseddin Eldeniz” of the historical multi-series to be broadses on AzTV soon. The teaser of the movie was prepared in partnership with the Ministry of Culture, "Azerbaijan Television and Radio Broadcasting" CJSC, the History Institute of the Azerbaijan National Academy of Sciences, the Azerbaijan Institute of Theology and the "IMZA" Social Development Support Public Union. Later, Chairwoman of the AmCham Marketing, Communications and Business Development Committee, Ms. Aysel Suleymanova briefed the Committee’s upcoming plans and activities. Thereafter, member presentations on portfolio and activity direction of the company were delivered by FINADCO.At the end of the Luncheon, Mr. Alibala Maharramzade, Founder of "Shahdag film shortly spoke about the work being done with incredible and professional team in preparation of the historical multi-series and urged private sector representatives to further contribute to the project. The event was concluded by closing remarks of Ms. Gulnara Aslanbayli.
AmCham established its Marketing, Communications and Business Development Working Group
On November 16, 2022, AmCham Azerbaijan held the first meeting of its Marketing, Communications, and Business Development (MCBD) Working Group. Honorable guest speaker of the meeting was Ms. Nigar Arpadarai, the Member of the Parliament of the Republic of Azerbaijan. The strategy of the working group is based on a demand-driven transformation approach focused on mega-trends, relevance and value proposition for the marketers and their key stakeholders. Newly established MCBD WG will aim to improve the efficiency of Marketing, Communications and BD function in Azerbaijan and address the expectations of its members by building a platform for networking and practice sharing, as well as supporting with upskilling training, workshops, seminars and legislative frameworks. The meeting was opened by a welcome speech of AmCham Executive Director Ms. Gulnara Aslanbayli. Ms. Aysel Suleymanova, newly appointed Chairwoman of AmCham MCBD WG announced the opening of the working group and welcomed all the participants. Afterwards, she presented key findings of the survey conducted by the working group among members of the chamber.Thereafter, invited guest speaker Ms. Nigar Arpadarai shared her knowledge and experience in marketing and communication area with the audience. The event was followed by the discussions of Ms. Suleymanova and Ms. Arpadarai on strategic MCBD transformation in private and public sectors through real case examples, the role of marketing and communications as the key enabler of business, as well as MCBD function performance in Azerbaijan and many more.The discussion was concluded by an interactive Q&A session, as well as exchange of views and best practices. At the end, short tour to SENSUM by Amapola unique laboratory and raffle prizes were organized for the participants of the meeting.
Women’s National Business Agenda(WNBA) were presented to the public
On November 3, 2022, Executive Director of AmCham Azerbaijan Ms. Gulnara Aslanbayli attended the official Launch of the Women's National Business Agenda (WNBA) for Women's Economic Empowerment organized by BAKU - The United States Agency for International Development (USAID). Representing AmCham Azerbaijan as one of the significant contributors in preparation of the WNBA document, Ms. Aslanbayli participated in a panel discussion and shared perspectives on how the Chamber has influenced the work toward women's economic empowerment and the contributions to the building of the WNBA.During the event, the WNBA white paper which offers concrete recommendations and policy solutions to create a favourable business environment for women and remove barriers they face in the workplace was presented to the public. The survey findings on women's entrepreneurship in Azerbaijan were also shared with the participants of the event. During the panel discussion, Ms. Gulnara Aslanbayli informed the audience on the “Declaration of Support for Women’s Economic Empowerment” signed by the Chamber in order to implement comprehensive and sustainable policies, procedures, and activities to promote gender equality and diversity in line with defined commitments. She also highlighted that in the framework of women’s economic empowerment strategic direction, AmCham will continue its active involvement in relevant meetings, roundtables and events to enhance diversity, equity and inclusion in trade and commerce. It was also emphasized that AmCham policy papers are being planned to be prepared based on the WNBA aimed to spread the best practices and ideas advancing women’s economic empowerment and entrepreneurship in Azerbaijan.The event was attended by more than 80 participants, including representatives from the Ministry of Labour and Social Protection of the Population, the Entrepreneurship Development Fund, the State Employment Agency, the State Committee for Family, Women and Children's Affairs, the Small and Medium Business Development Agency as well as the US organization "Center for International Private Enterprise (CIPE)" and its Center for Women's Economic Empowerment, international organizations, business associations and women entrepreneurs.
The public and private sectors are considering a modern model of packaging waste management
The "Extended Producer Responsibility" model based on modern experience in the management of packaging waste is being considered to implement in Azerbaijan.The topic has been discussed during the meetings held between the Ministry of Ecology and Natural Resources of the Republic of Azerbaijan and the representatives of the "FMCG” (Daily Consumer Goods) Committee under the American Chamber of Commerce in Azerbaijan. According to European best practices in packaging waste management, the sorting and recycling of packaging waste are taken as a priority, and as a result, the total volume of waste is reduced. This system is managed by an independent association of producers.Though previously, producers were only responsible for the quality and safety of the products they provided to consumers, after the adoption of the relevant directive by European Union in 2008, according to the principles of EPR, producers bear responsibility for the post-consumer life cycle of the packaging as well.In the last meeting held between the Ministry of Ecology and Natural Resources and the private sector, the importance of preparing the appropriate legislation for the application of EPR practice in waste management of our country was highlighted.For this purpose, a Road Map covering the next steps of the implementation of the EPR model in Azerbaijan will be prepared by the FMCG Committee. In order to ensure the implementation of these measures envisaged in the Road Map, producers will create a relevant association.In the near future, detailed information about the Road Map and the EPR draft law will be presented to manufacturers. Furthermore, it is also planned to sign a memorandum of understanding between the government and the industry reflecting the intention of cooperation by the end of the year.
AmCham Digital Technology and Innovations Committee’s Meeting
On October 25, 2022, AmCham Digital Technology and Innovations Committee held the internal meeting. The main purpose of this meeting was to bring AmCham Members together and have broader discussions on current status and further activities of DT&I Committee. DT&I Committee Chairperson Mr. Babek H. Aghayev welcomed all participants and announced the start of the roundtable discussion. During the meeting, the participants highlighted major directions and fields of activities they would like the Committee to be engaged in, as well as touched upon main concerns and challenges in the field of digitalization, innovation and hi-tech. In addition, AmCham members were encouraged to discuss their expectations from the Government in this field, and raise further questions and issues of their interest. At the end of the meeting, Mr. Babek H. Aghayev thanked everyone for their valuable contributions and mentioned that based on taken notes, all raised issues will be evaluated and relevant actions will be taken by the committee.