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Human Resources and Labor
The Human Resources Committee meetings are devoted to the exchange of ideas and information related to the development and management of human resources in Azerbaijan. Committee members‘ practical experiences are frequently drawn upon as a basis for presentations and discussions. A new aspect of the committee’s activity is the preparation of commentary on legislation, including the revised Labor Code. The Committee enables AmCham members to share best practices and resources in the field of human resources management. Its efforts focus on providing essential information to AmCham members and participating Committee members through:Annual National Employee Salary SurveysQuarterly Inflation SurveysResources on the current Azerbaijani labor law legislationTraining Sessions on HR Management (delivered by committee members on voluntarily basis)Best Practices presentations (delivered by committee members)Sharing human resource management expertise with local educational institutionsThe Annual National Employee Salary Survey is presented at a fourth quarter luncheon.
Travel, Hospitality and Tourism
AmCham Travel, Hospitality and Tourism Committee meets monthly to discuss the present situation of tourism in Azerbaijan and how to improve the country as a tourist destination.Considering the larger than normal expatriate community, an influx of short-term business travelers, and increased investment in infrastructure that are results from a very active oil sector Azerbaijan’s travel tourism industry is one of the most promising. The business travellers require and demand high quality airlines, hotels, restaurants and services in both the capital and the regions. Over the long-term, however, Azerbaijan also has the potential to attract a considerable number of international tourists. The country is blessed with ingredients that will create good memories for tourists, including natural or interesting scenery, people, a historically rich religious diversity, interesting cities to explore, unusual foods, exotic smells, opportunities to bring home memories they have purchased, and above all, safety in the country. Having these attributes should go a long way to enable Azerbaijan to redevelop its tourism industry more broadly.Taking all this into account we would like to invite all of the hotels, airlines, travel agencies that are members of the American Chamber of Commerce as well as any other member companies that are interested in shaping up the private sector efforts in developing and improving the Hospitality, Travel and Tourism in the country to join this newly created committee.
Marketing, Communications and Business Development
Marketing, Communications and Business Development (MCBD) Committee focuses on driving strategic transformation in marketing, communications, and business growth across Azerbaijan. Its strategy is rooted in a demand-driven approach, aligned with emerging mega-trends and designed to deliver relevant value propositions for marketers and their key stakeholders.As the leading business association in Azerbaijan, AmCham recognizes the importance of supporting its members in navigating dynamic markets, evolving consumer behavior, and emerging business models. The MCBD Committee serves as a platform for professionals to share insights, best practices, and innovative approaches that enhance brand positioning, stakeholder engagement, and market competitiveness.
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 11 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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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 (2019-2022)
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 (2019-2022)
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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OTHER EVENTS
Important highlights from AmCham Events
AmCham Azerbaijan Encourages Members to Participate in AIREX 2026
Following the announcement of our strategic partnership with AIREX – the first-ever Azerbaijan International Real Estate Exhibition, AmCham Azerbaijan is pleased to invite all our members and the international business community to explore participation opportunities at this landmark event.📅 Date: 4–6 November 2026📍 Venue: Baku Expo CenterBringing together real estate developers, investors, architects, proptech companies, financial institutions, and industry leaders from more than 20 countries, AIREX 2026 will serve as a dynamic platform for investment, networking, and the development of new commercial partnerships.As part of this strategic partnership, international companies can benefit from an exclusive 25% discount on participation packages.AmCham Azerbaijan encourages companies operating in the fields of real estate, construction, investment, urban development, architecture, engineering, proptech, financial services, and related sectors to take advantage of this opportunity and showcase their business at AIREX 2026.For more information or to express your interest in participating, please contact the AmCham Azerbaijan team at chamber@amchamaz.org.
AmCham Azerbaijan hosted the Inaugural Meeting of the Food and Agriculture Working Group.
Baku, July 28, 2026 – AmCham Azerbaijan held the inaugural meeting of its Food and Agriculture Working Group, bringing together member companies, government representatives, and industry experts to officially launch the Group’s activities, define its key priorities, and strengthen collaboration across Azerbaijan’s food and agriculture sector.The meeting was opened by Mr. Zaur Kerimov, Executive Director of AmCham Azerbaijan, who emphasized that Agro-Food has been identified as one of AmCham Azerbaijan’s Strategic Priorities for 2026–2028. He noted that the Working Group will serve as an important platform for strengthening public-private dialogue, fostering cooperation among industry stakeholders, and promoting initiatives that contribute to the sustainable development of the sector.This was followed by remarks from Mr. Niyazi Amirbeyov, Member of the Board of Directors of AmCham Azerbaijan and CEO of AgroDairy, who highlighted the strategic importance of the food and agriculture sector to Azerbaijan’s economy. He underlined the Working Group’s role in encouraging collaboration among businesses, facilitating the exchange of expertise, and advancing the common interests of the private sector.Addressing the participants, Mr. Mushfig Jafarov, Member of the Milli Majlis of the Republic of Azerbaijan, stressed the importance of continuous cooperation between the public and private sectors. He noted that initiatives supporting the food and agriculture sector would contribute to the country's economic development and the strengthening of food security.During the meeting, Mr. Elkhan Mikayilov, Chair of the Food and Agriculture Working Group, presented the Group’s vision, objectives, and priority areas. His presentation outlined the Working Group’s planned activities, future initiatives, and opportunities for collaboration among member companies and relevant stakeholders.The discussion session featured contributions from Mr. Vugar Zeynalov, Vice President of the Azerbaijan Confederation of Entrepreneurs, Mr. Ilgar Nuri, Deputy CEO for Corporate Functions at Veyseloglu Group of Companies, and Mr. Ilham Abdullayev, Business Development Director at Azersun Holding . The speakers shared their perspectives on the current challenges facing the food and agriculture sector, future development opportunities, and areas for enhanced cooperation. Other participants also contributed their views and recommendations, engaging in a constructive exchange on the future activities and priorities of the Working Group.The meeting concluded with a Q&A session followed by closing remarks. It was emphasized that the Working Group will continue its activities on an ongoing basis, with future meetings focusing on addressing priority issues for the sector and fostering closer collaboration with relevant stakeholders.The establishment of the Food and Agriculture Working Group represents an important milestone in advancing AmCham Azerbaijan's 2026–2028 strategic priorities. The initiative is designed to support the sustainable development of the food and agriculture sector, strengthen public-private dialogue, and bring together the business community on a unified platform to address shared opportunities and challenges.
"ZƏKA" National Artificial Intelligence Awards to be Launched in Azerbaijan
A major new initiative aimed at advancing Azerbaijan's artificial intelligence ecosystem is set to launch with the introduction of the "ZƏKA" National Artificial Intelligence Awards. The awards are established to identify, recognize, and promote innovative AI projects, technological solutions, startups, and creative initiatives, while celebrating outstanding achievements in the field of artificial intelligence.The project is jointly organized by AmCham Azerbaijan, InnMedia, and Safaroff Agency.Established in line with the national priorities outlined in the Artificial Intelligence Strategy of the Republic of Azerbaijan for 2025–2028 and the Strategy for the Development of the Digital Economy for 2026–2029, "ZƏKA" will serve as a unified platform that fosters collaboration among the public sector, private sector, startup ecosystem, academia, and creative industries.The primary objective of the "ZƏKA" National Artificial Intelligence Awards is to identify and promote innovative ideas and technological solutions emerging in Azerbaijan's AI sector, recognize the achievements of individuals, teams, and organizations contributing to its development, and encourage the growth of pioneering initiatives. By uniting public institutions, businesses, startups, academia, researchers, and investors on a single platform, the initiative aims to strengthen cross-sector collaboration, facilitate knowledge exchange, foster new partnerships, and create opportunities for promising AI projects to scale. Furthermore, "ZƏKA" seeks to showcase the achievements of Azerbaijan's AI ecosystem to a broader audience and enhance the country's international recognition as an emerging hub for artificial intelligence and innovation.The initiative is implemented with the official support of the Innovation and Digital Development Agency (IDDA), the Small and Medium Business Development Agency (KOBIA), the Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR), and the National Artificial Intelligence Center (NAIC).The awards will be presented across the following five main categories:Government AI Solution of the Year – quality of public services, impact on citizens, technological innovation, and efficiency.Private AI Solution of the Year – commercial results, innovation, market impact, and technological advantage. AI Startup of the Year – innovation potential, team, market prospects, and investment attraction.AI Creator of the Year – creative content, use of AI tools, originality, and public impact. Tech Xəbər Choice– editorial choice, special contribution to AI, and an innovative approach.ApplicationsApplications will be accepted from 20 August to 15 September 2026.Individuals and organizations wishing to participate may submit their project description, technical documentation, demo version, and other supporting materials online via www.aiawards.az.For detailed information and applications, please visit: www.aiawards.azFor sponsorship and partnership opportunities, please contact: partners@aiawards.azFollowing the completion of the evaluation process, the winners of the "ZƏKA" National Artificial Intelligence Awards will be announced and honored during the official Gala Ceremony on 15 October 2026.The project's media partners include TechXəbər.az, AutoLife.az, InfoCity.Tech, Marja.az, Enerji FM, Netant and SMARTBEE.As an annual initiative, the "ZƏKA" National Artificial Intelligence Awards are expected to make a lasting contribution to the wider adoption of AI solutions in Azerbaijan, strengthen innovation-driven collaboration, promote promising technological initiatives, and reinforce the country's position as a regional center for innovation and technology.
AmCham Azerbaijan Announces New Appointment to the BFI Committee
AmCham Azerbaijan is pleased to announce the appointment of Mr. Emin Khalilov, Tribe Lead for Business Banking at Yelo Bank OJSC, as the new Deputy Chairperson of the BFI Committee.About the Deputy Chairperson:Emin Khalilov holds a Master's degree in Administration and Regulation of Business from the Azerbaijan State Economic University (UNEC). As the Tribe Lead for Business Banking at Yelo Bank OJSC, he leads the bank's business banking product portfolio, covering micro and SME lending, payments and acquiring, and digital channels. With more than 11 years of experience in Azerbaijan's banking sector, Emin has made significant contributions to the digital transformation of financial services.We wish the newly appointed Deputy Chairperson continued success in this role and look forward to his contributions to advancing the Committee’s objectives.
AmCham Azerbaijan is pleased to announce the establishment of the Food and Agriculture Working Group and the appointment of its Chairperson
AmCham Azerbaijan is pleased to announce the establishment of the Food and Agriculture Working Group, created within the Chamber's strategic Food and Agriculture agenda for 2026–2028 to support the sustainable and competitive development of Azerbaijan's Agro-Food sector. The Working Group will serve as a collaborative platform bringing together AmCham member companies, government institutions, and industry stakeholders to strengthen Business-to-Government dialogue and contribute to practical, business-oriented solutions for the sector. Its activities will focus on advancing Agro-innovations and technologies (Agriculture 4.0),improving access to finance and insurance market, supporting export competitiveness and alignment with international standards, promoting sustainable agricultural practices and ESG principles, and enhancing cooperation to address key challenges facing Azerbaijan's food and agriculture ecosystem. Through these efforts, the Working Group aims to contribute to the diversification and long-term development of Azerbaijan's non-oil economy in line with the country's national development priorities.In this regard, Dr. Elkhan Mikayilov, Director General of ASR Development Consulting Group, has been appointed as Chairperson of the Food and Agriculture Working Group.About the Chairperson:Dr. Elkhan Mikayilov, a distinguished expert in public administration, economic reform, and international trade policy, with more than 20 years of leadership and advisory experience in macroeconomic regulation, business and investment climate reform, and international trade policy, including Azerbaijan's WTO accession and EU integration processes.Elkhan is currently the Director General of ASR Development Consulting Group. He previously served as Head of Department at the Administration of the President of the Republic of Azerbaijan, coordinating the country's National Strategic Road Maps across 11 economic sectors, and as Chief of Staff at the Food Safety Agency of the Republic of Azerbaijan, where he led an institution of more than 1,000 staff and oversaw its institutionalization under ISO 9001 and ISO 37001 standards. He has also served as local head of the WTO Group under USAID trade programs and as National Program Manager for the Swiss State Secretariat for Economic Affairs (SECO), coordinating major World Bank, IMF, and IFC projects on investment climate and private sector competitiveness.Elkhan holds a Ph.D. in Economics from the Scientific Research Institute of Economic Reforms, as well as Bachelor's and Master's degrees with honors from Azerbaijan State University of Economics (UNEC). Elkhan will chair AmCham Azerbaijan's newly established Food and Agriculture Working Group.We are pleased to welcome Dr. Elkhan Mikayilov to our community and look forward to his contributions to the Chamber's work on food and agriculture activity direction
AmCham Tax and Customs Committee Hosted Meeting titled “Corporate Formations and Asset Transfers: Tax Consequences, Basis Rules, and Risk Areas.”
On June 30, 2026, the AmCham Tax and Customs Committee Hosted Meeting titled “Corporate Formations and Asset Transfers: Tax Consequences, Basis Rules, and Risk Areas.”The event brought together AmCham member companies, tax professionals, legal practitioners, and private sector representatives to discuss the tax, legal, and practical considerations associated with corporate formations and asset contribution transactions under Azerbaijani legislation.The session commenced with opening remarks delivered by Ms. Sabina Khalilova, Chairperson of the AmCham Tax and Customs Committee, who welcomed participants and highlighted the importance of understanding the tax implications of corporate restructuring and asset transfers in ensuring effective business planning, compliance, and risk management.During the meeting, Ms. Isli Mahammadrasulova, Tax Chief Specialist at NEQSOL Holding, delivered a comprehensive presentation on the commercial rationale behind corporate formations and asset contribution transactions. She explored tax-neutral transfer mechanisms, tax basis implications, valuation and capital formation issues, VAT considerations, and common risk areas arising under Azerbaijani tax legislation. Drawing on practical experience, Ms. Mahammadrasulova also shared insights into effective transaction structuring, tax risk management strategies, and key considerations for minimizing potential tax exposures.The meeting concluded with an interactive Q&A session, providing participants with the opportunity to discuss practical challenges, exchange professional perspectives, and seek expert guidance on corporate structuring and taxation matters.
AmCham Azerbaijan Announces the Election of its First Vice President and Vice President for the 2026–2028 Term
The American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) is proud to announce the election of Mr. Oscar Bogopolski, Chief Executive Officer of McDonald's Azerbaijan, as First Vice President, and Mr. Niyazi Amirbayov, Chief Executive Officer of AgroDairy, as Vice President for the 2026–2028 term, marking an important milestone in the Chamber's continued commitment to strong leadership, effective governance, and strategic growth.In their new leadership roles, Mr. Bogopolski and Mr. Amirbayov will work closely with the President and the Board of Directors to advance the Chamber’s strategic vision, strengthen engagement with members and stakeholders, and reinforce AmCham Azerbaijan’s mission of fostering a transparent, competitive, and sustainable business environment.Together with the newly elected Board of Directors, they will play a pivotal role in shaping the Chamber’s future by driving strategic initiatives, strengthening public-private dialogue, advancing policy advocacy, expanding member value, and promoting innovation and collaboration across Azerbaijan’s business community. Their leadership will further reinforce AmCham Azerbaijan’s position as the leading voice of the international business community and a trusted partner in supporting the country’s economic development.AmCham Azerbaijan warmly congratulates Mr. Oscar Bogopolski and Mr. Niyazi Amirbayov on their election and wishes them every success in their new roles. The Chamber is confident that their leadership, extensive expertise, and strategic vision will make a lasting contribution to AmCham Azerbaijan’s continued growth, influence, and success, while creating greater value for its members and the broader business community.
AmCham Banking, Finance and Insurance Committee Hosted Meeting on Property Insurance and Risk Protection
On June 30, 2026, the AmCham Banking, Finance and Insurance Committee organized a meeting titled “Property Insurance and Risk Protection: Ensuring the Safety of Homes and Businesses.”The event brought together representatives from the Ministry of Emergency Situations, the Central Bank of Azerbaijan, PASHA Insurance, PASHA Property Management, the Azerbaijan Insurers Association, AmCham member companies, and private sector professionals to discuss current property risks, the role of insurance protection, and sustainable approaches to risk management.The session commenced with opening remarks delivered by Mr. Vugar Namazov, Chairperson of the AmCham Banking, Finance and Insurance Committee, who welcomed participants and emphasized the importance of strengthening cooperation between the public and private sectors in promoting risk awareness, enhancing property protection, and supporting the development of Azerbaijan’s insurance market.During the meeting, Mr. Vusal Gurbanov, Director General of the Central Bank of the Republic of Azerbaijan, presented the regulatory perspective on the development of the property insurance market and shared insights into ongoing initiatives aimed at strengthening the sector. Mr. Rustam Mammadov, Deputy Chairman of the Management Board of PASHA Insurance OJSC, highlighted the importance of property insurance for businesses and property owners, emphasizing its role in protecting assets and improving financial resilience. The event also featured a panel discussion titled “Property Protection and Sustainable Approaches,” moderated by Mr. Ruslan Alakbarov, Director of Marketing and Customer Satisfaction Department at PASHA Insurance OJSC. The discussion brought together Mr. Abas Miskarli, Chairman and Executive Director of the Azerbaijan Insurers Association; Mr. Elbey Bababeyov, Head of the Legal Department of the State Agency for Construction Safety Control of the Ministry of Emergency Situations; Mr. Tural Aliyev, Chief Executive Officer of PASHA Property Management; and Mr. Aydin Rahmanov, Chief Executive Officer of Qala Life Insurance. Panelists explored key misconceptions surrounding property insurance, effective risk management practices, opportunities for strengthening cooperation among stakeholders, and practical approaches to enhancing resilience against property-related risks. The meeting concluded with an interactive Q&A session, providing participants with the opportunity to engage directly with the speakers and exchange views on current challenges and future priorities for advancing property insurance and risk protection in Azerbaijan.
AmCham Azerbaijan Education & Vocational Working Group’s June meeting
On June 23, 2026, the AmCham Education & Vocational Working Group organized a meeting titled “Education Leadership”. The purpose of the meeting was to reflect on the Education & Vocational Working Group’s activities and achievements throughout the year, assess the outcomes of its key initiatives and partnerships, and exchange perspectives on future priorities for strengthening education, skills development, and workforce readiness in Azerbaijan. The session also provided an opportunity to recognize the contributions of partner organizations and highlight successful collaborative efforts between the education sector and the business community.The session commenced with welcoming remarks delivered by Mr. Francesco Banchini, who welcomed participants and reflected on the Working Group’s activities throughout the year, emphasizing the importance of collaboration between the education sector, businesses, and industry stakeholders in preparing future talent and supporting workforce development in Azerbaijan.During the meeting, Mr. Banchini and the Deputy Chairpersons of the Working Group jointly delivered a comprehensive presentation highlighting the key initiatives, achievements, and collaborative projects implemented throughout the year. The speakers shared data-driven insights gathered through various activities and provided an overview of the impact of the Working Group’s efforts on students, educational institutions, and industry partners.The presentation also featured reflections and feedback from students participating in educational programs, as well as insights into skills expectations and workforce readiness requirements in emerging markets. Particular attention was given to the outcomes of pilot initiatives conducted during the year, key lessons learned, and opportunities for further development and collaboration.In addition, the speakers recognized and celebrated partner companies and organizations whose active engagement and support contributed significantly to the success of the Working Group’s projects and initiatives.The meeting concluded with an interactive discussion on future priorities and opportunities for strengthening cooperation between education providers and the business community, reaffirming the Working Group’s commitment to advancing education and vocational development in Azerbaijan.
AmCham Azerbaijan Elects New Board of Directors and President at 2026 Annual General Meeting
American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) successfully held its Annual General Meeting (AGM) on June 17, 2026, bringing together members of the Chamber for one of the organization's most important annual events. The AGM featured the election of the new Board of Directors and President, marking the beginning of a new chapter for the Chamber's leadership.The Annual General Meeting opened with welcoming remarks from Mr. Zaur Karimov, Executive Director of AmCham Azerbaijan. He warmly welcomed members and guests, expressed appreciation to the outgoing Board of Directors for their dedication and service to the Chamber, and recognized the candidates standing for election for their willingness to contribute to AmCham's future development. Mr. Karimov highlighted the Chamber's achievements over the past year and underscored the importance of strong leadership and member engagement in advancing the organization's mission.The meeting was chaired by Mr. Emil Huseynov from Azerbaijani HR Institute, who was elected Chairman of the General Meeting. Mr. Adil Huseyn and Ms. Saadat Mutalimova served as tellers. During the proceedings, Mr. Huseynov introduced the 15 candidates competing for 10 available seats on the Board of Directors.The outgoing President of AmCham Azerbaijan, Mr. Dayanat Sadullayev highlighted the Chamber's key accomplishments and milestones achieved during his tenure. In his farewell address, he reflected on the initiatives undertaken under his leadership, expressed sincere appreciation to the AmCham community for its unwavering commitment and support, and extended his best wishes to the incoming Board as they continue advancing the Chamber's mission and strategic priorities.The election process was conducted through a confidential ballot among the authorized representatives of AmCham's Regular Members—respected business leaders recognized for their strong reputation and standing within the business community.Following the vote count, the Chairman officially announced the newly elected Board of Directors, who will serve a two-year term from 2026 to 2028:Nuran Kerimov, Managing Partner, Deloitte Oscar Bogopolski, CEO, McDonald's AzerbaijanNiyazi Amirbayov, CEO, AgroDairyImran Ahmadzada, Head of NEQSOL Holding Azerbaijan and CFO of NEQSOL Holding GlobalElyar Aliyev, Vice President Legal, bp Azerbaijan, Georgia and Türkiye RegionSharaf Asgarova, Corporate Affairs Manager, PMIIlham Azizov, Founder and Director, iTech Group LLCRamil Eyyubov, Regional Director, Caucasus and Central Asia, CiscoGunay Jalilova, Deputy CEO, Yelo BankOrkhan Mikayil, CEO, Aqualink LLCIn the second part of the election process, Mr. Nuran Kerimov, Managing Partner at Deloitte, was elected President of AmCham Azerbaijan for the upcoming term. As AmCham Azerbaijan looks ahead, the Chamber remains committed to strengthening the business environment, fostering public-private dialogue, and supporting the continued development of trade and investment opportunities in Azerbaijan.