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Welcome to AmCham Azerbaijan
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Banking, Finance and Insurance
The Committee oversees the entire financial services industry, including banking and insurance industries. The committee concentrates on those issues that can off set American and Azerbaijan-US joint venture business in Azerbaijan. Finance committee works towards bringing greater understanding of the Azerbaijan Financial system. Better consideration of financial systems and a more robust financial infrastructure helps us to ensure both sustainable economic growth and social progress within the country. AmCham’s financial committee exists to raise and allocate finance. AmCham commonly undertake activities in order to bring organization’s together to provide a range of financial services for its members.BFI Committee seeks to support and promote the interests of AmCham’s Banking, Finance and Insurance members. It does this by facilitating discussions on issues affecting the sector, inviting guest speakers and by seeking to act as an advocacy body to defend and promote the interests of the sector as a whole with respect to Government and regulatory bodies.Powered by Froala Editor
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.Powered by Froala Editor
FMCG
The mission of FMCG Working Group is to contribute to the improvement of legislation and legal practice in the areas of commercial and company law, as well as to promote standards of best practice in marketing goods and services. The issues of product safety, consumer protection, advertising etc. are of great public concern, abundant however in grey areas not yet being subject to legal scrutiny.The FMCG Working Group is constantly working on the questions below to be addressed:• What are the legal requirements for the product to be marketed?• How to market the product lawfully?• How to abide by law in contacting consumers and competitors when marketing the product?Powered by Froala Editor
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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MEMBERSHIP TYPES
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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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Important highlights from AmCham Events
AmCham Azerbaijan becomes a UNGC signatory
American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) is pleased to announce that it has become a United Nations Global Compact (UNGC) signatory since March 1, 2021. UNGC is a bold initiative designed to redirect business values towards working for the greater good. Its purpose is to help businesses transform their strategy in order to accommodate for the rising need in the implementation of sustainability practices around the world. With more than 12,700 members based in 160 countries, UNGC promotes ten essential sustainability principles across four domains in order to cultivate a better a world:Human RightsLabor Environment Anti-CorruptionWe commit ourselves to adhere to our recently adopted Sustainability Policy developed based on the UNGC principles and perceive this initiative as a step forward towards its implementation. While we are working on several initiatives to embrace our commitments, we as AmCham Azerbaijan are also ready to support our member companies and other local businesses in this journey towards adopting essential values of responsible governance and become a UNGC signatory. Either it is from the administrative or advisory point of view, we are determined to provide all necessary assistance to local sustainability pioneers to join the ranks of UNGC signatories.We believe, this is a big leap towards strengthening the presence of sustainability practices in Azerbaijan and will significantly contribute to the long-term value creation across all business sectors of the country. Powered by Froala Editor
AmCham Call for Tenders
American Chamber of Commerce in Azerbaijan announces a Tender for the project “FUNDRAISING WEB PLATFORM INITIATIVE”.About the platform: AmCham Azerbaijan is aiming to facilitate the connection between donors and receivers by creating and managing an independent web platform. In this platform, various entities would share their aspirations to contribute to the betterment of the society by proposing corporate and social responsibility (CSR) projects. Other entities, which are also interested in contributing to their CSR image, may then connect and collaborate with these entities by sharing funds. The web platform will then create an individual CSR portfolio (e.g. company profile) for each participating entity, where all contributions and collaborations will be publicly displayed and available for the users. In scope of this tender, we intend to work with a creative and capable IT service provider who can develop independent CSR web platform. Vendors should be able to clearly demonstrate their past experiences (e.g. portfolio) or relevant qualifications to gain some edge on the selection process. On the same line with front-end and back-end qualities, the vendor shall have relevant experience in UI/UX design and demonstrate clear understanding of the science behind user and web-based application interactions. Interested parties can get detailed information on the project and submission of proposals by contacting:Sheyda Rzayeva, e-mail: csrplatform@amchamaz.org The deadline to submit all application documents is 07.05.2021.Powered by Froala Editor
AmCham Members’ Online March Luncheon
On March 15, 2021 the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its monthly Members’ Online Luncheon.The honorable guest speaker of this month was Mr. Valeh F. Alasgarov, Chairman of the Board of Directors, Alat Free Economic Zone Authority (AFEZA).The meeting was attended by leadership of AmCham Azerbaijan, member companies and representatives of diplomatic corps. President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech and introduced the guest speaker.Mr. Valeh Alasgarov delivered a wide information on Alat Free Economic Zone (AFEZ) project, elaborating on key role of AFEZA in transforming Azerbaijan into a knowledge-based and internationally competitive economy. He also talked about legal basis and framework of AFEZ, emphasizing their distinction from other international models. Furthermore, Mr. Alasgarov defined major types of investors welcomed at AFEZ, physical development of the area, as well as fiscal and non-fiscal incentives that will be available for clients and investors.In conclusion, all the questions and comments of the participants were addressed by Mr. Valeh Alasgarov.At the end of the luncheon, Mr. Nuran Kerimov thanked everyone for participation and highlighted particular importance of the event in terms of sharing experience and discussing prospects for future cooperation between AMCHAM and AFEZA.Powered by Froala Editor
Online Tax Conference Jointly Organized by American Chamber of Commerce in Azerbaijan and State Tax Service
On March 10, 2021, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized online conference jointly with the State Tax Service (STS) under the Ministry of Economy on “Tax Regulation of the Economy in the Global Pandemic and Post-war Period - Sustainable Economic Growth and a Favorable Investment Climate”.The conference was attended by Acting Head of the State Tax Service Mr. Orkhan Nazarli, other senior officials of STS, leadership of AmCham Azerbaijan and member companies, as well as representatives of diplomatic corps. The event was focused on discussion of issues on tax legislation, improvement of the business climate and transparency, as well as exchange of views on subjects of mutual interest. Opening the event, the president of AmCham Azerbaijan, Mr. Nuran Karimov expressed his gratitude to the STS leadership for their support in organization of the conference, as well as acknowledged Chamber's constructive dialogue with the relevant governmental bodies. It was noted that AmCham Azerbaijan is interested in development of perfect tax legislation that will improve the business environment in the country. It was also mentioned that as a result of cooperation with the tax authorities, for many years joint tax conferences have been organized, discussions in the field of taxation have been carried out, as well as numerous proposals have been submitted. Mr. Kerimov also brought to attention that today's event is aimed to discuss the role of the tax system in improvement of the country's investment climate, its direct impact on attracting foreign direct investment and international best practices available in this field, etc.Acting Head of State Tax Service, Mr. Orkhan Nazarli thanked the participants of the conference for their contribution to the development of the Azerbaijani economy. It was noted that the STS attaches great importance to improving tax policy and tax administration, providing new services to taxpayers, holding various discussions with public organizations of entrepreneurs to further improve the business environment. It was also mentioned that before making amendments to the legislation, the opinions of local and foreign business structures operating in the country are taken into account, as well as open and active dialogue with business entities is being conducted. Mr. Nazarli noted that tax conferences held jointly with AmCham Azerbaijan have become a tradition, emphasizing that these meetings play an exceptional role in developing partnerships between tax authorities and business structures and further increasing the level of taxpayers' compliance with tax legislation. He said that the relations between the STS and AmCham Azerbaijan uniting hundreds of foreign and local businesses, are based on the principles of effective partnership. AmCham members are widely represented in various sectors of the national economy. Noting that the topic of this year's tax conference is based on modern challenges, Mr. Nazarli emphasized that the STS is interested in building partnerships with businesses in the process of improving tax legislation in order to create a favorable investment climate that will ensure sustainable economic growth in the country. He also informed the participants about the main directions of tax policy, trends in the field of tax legislation and administration in the upcoming periods.The conference was moderated by AmCham Tax and Customs Committee’s Chairman, Mr. Jeyhun Mammadov. The conference consisted of four panels: “Improvement of the investment climate as the locomotive of the country’s economic development”, “Use of modern technology in tax administration”, “Innovations in tax audits - Legislative Directions, Efficiency and Appeal Opportunities” and “Application of international best practices in the country”. In the first panel, Mr. Rashad Abbasov, a representative of NEQSOL, spoke on "The impact of the tax system on attracting foreign direct investment" and Mr. Nijat Imanov, Head of the Tax Policy Main Department of the STS - on “Future goals for a favorable investment climate”. During the second panel, Ms. Narmin Aslanova, a representative of Deloitte, delivered a presentation on "Global Goals and Directions" and Mr. Fuad Aslanov, Head of the Digital Tax Administration Main Department of the STS - on “Plans of the State Tax Service on Digital Technology”. At the third panel of the conference, EY’s representative, Ms. Arzu Hajiyeva and a representative of KPMG, Mr. Rizvan Gubiyev spoke on “Desk tax audits” and "Practical aspects of tax audits" respectively. The last panel featured presentations by PwC’s representative, Ms. Gunel Sadiyeva on “Useful international practices in the field of business stimulation” and Mr. Orkhan Musayev, Acting Head of the International Taxation and Tax Monitoring Main Department - on “Perspectives and goals in the field of transfer pricing”.At the end of the conference, the parties exchanged views with representatives of business structures on issues of interest and questions of the participants were answered within the active Q&A session. Powered by Froala Editor
AmCham Annual General Meeting (AGM) 2021
On March 4, 2021 the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) held its Annual General Meeting (AGM).The Executive Director of AmCham Azerbaijan, Mrs. Gulnara Aslanbayli welcomed all AmCham members with an opening speech and announced the agenda of the meeting.President of AmCham Azerbaijan, Mr. Nuran Kerimov delivered a comprehensive presentation on report dedicated to the activities of 2020 of the Chamber. Strategic goals and financial report of AmCham Azerbaijan, as well as the achievements of the last year were highlighted during the presentation. Moreover, Mr. Kerimov announced that as a support to member companies, the AmCham Board of Directors approved membership fee exemption program for the year of 2021 to be applicable to the members operating in the sectors mostly affected by the pandemic. Furthermore, the issue on setting the date of the Board of Directors Elections was also put into discussion. As a result, by the majority of votes, it was decided to postpone Board of Directors Election to 2022.At the end of the AGM, Mr. Kerimov expressed his gratitude to all AmCham members for their continuous support and fruitful cooperation.Powered by Froala Editor
AmCham Members' Online February Luncheon
On February 24, 2021, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its monthly Members’ Online Luncheon. The Guest Speaker of this month was Dr. Taleh Ziyadov, Director-General of “Baku International Sea Trade Port” CJSC. Around a hundred AmCham members and partners attended the event, including representatives of diplomatic corps. President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech and introduced the guest speaker.Dr. Taleh Ziyadov started his speech by emphasizing the role of the Glorious Victory of Azerbaijan in expansion of the country’s opportunities in becoming regional transport and logistics hub through opening of the communication lines of the region considered in Agreement signed on November 11, 2020. Referring to the results of 2020, Dr. Taleh Ziyadov said that despite the COVID-19 pandemic, the turnover of the Port of Baku has increased by 20%. In his presentation, he also spoke on the activities of the Baku International Sea Trade Port , including development strategy for the next 2 years, agreements reached with leading logistics hubs and transport companies in Asia and Europe, and innovations in the country’s transport sector.Moreover, Dr. Ziyadov made an announcement of the upcoming Trade Mission Program to Belgium, jointly organized by Baku International Sea Trade Port (Port of Baku), Antwerp International Port together with APEC Antwerp & Flanders International Training Center, and AmCham Azerbaijan as an information partner. The Trade Mission Program will include trainings on topics such as environmental and occupational safety, improvement of trade and operational processes, as well as innovation and digitalization. It was also noted that the participants will be able to get acquainted with the activities of the Antwerp and North Seaports, the international logistics center and the customs service of the region for 5 days. Afterwards, he invited AMCHAM members to participate in the Trade Mission Program.In conclusion, all the questions and comments of the participants were addressed by Dr. Taleh Ziyadov.At the end of the luncheon, Mr. Nuran Kerimov thanked everyone for participation.Powered by Froala Editor
Online AmCham Members Luncheon
On January 29, 2021 the first Online Luncheon of AmCham Members on “Organization of Digital Employment” was held. The guest speaker of the meeting was Mr. Mustafa Abbasbeyli, Chairman of the Board of the State Employment Agency of the Ministry of Labor and Social Protection of Population.President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech. The significance of such events for the exchange of views on the cooperation opportunities between government and business representatives was noted during his speech. Mr. Mustafa Abbasbeyli delivered a wide presentation on “Organization of Digital Employment” comprehending relevant issues and topics in its implementation. Moreover, Mr. Farid Valiyev, Deputy Chairman of the Management Board, Mr. Emil Huseynov, Head of Human Resources Department of the Ministry of Labor and Social Protection of Population, Mr. Orkhan Rasulov, Head of Digital Employment Department of the Ministry of Labor and Social Protection of Population, Ms. Fatima Alakbarova, Deputy Head of Baku City Employment Center and Ms. Asmar Bayramova, Employee of the Strategic Communications Department were also guests of the luncheon. At the end, all questions of member participants were addressed by Mr. Mustafa Abbasbeyli and other senior representatives of the ministry. Powered by Froala Editor
Online meeting was held between leadership of AmCham Azerbaijan and the Ministry of Labor and Social Protection of Population
On January 8th, online meeting was held between the leadership of the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) and the Ministry of Labor and Social Protection of Population of the Republic of Azerbaijan on social support for the families of martyrs and war-wounded, as well as potential cooperation in this area.President of AmCham Azerbaijan, Nuran Kerimov welcomed the participants with an opening speech. He stressed the significance of such events in continuation of a dialogue between the public and private sector. Mr. Kerimov noted that AmCham Azerbaijan, as part of its corporate social responsibility policy, pays special attention to improvement of social security of the families of martyrs and war-wounded. He also said that the member companies of the Chamber have been constantly making contribution in this direction.Deputy Minister of Labor and Social Protection of Population, Anar Karimov noted that such event has been a beneficial platform for the exchange of views on the cooperation opportunities between government and business representatives. He also briefed the participants on the projects currently being implemented by the Ministry in this direction and the measures taken to improve the social security of the families of martyrs and war-wounded. Mr. Karimov noted that this initiative of AmCham Azerbaijan is highly commendable and the Ministry is ready to continue cooperation with the Chamber.Chairman of the Board of the State Employment Agency Mustafa Abbasbayli, Chairman of the Board of the DOST Agency Farid Mammadov and other senior officials of the Ministry also made speeches at the meeting. During the meeting, questions and recommendations also were expressed by the representatives of the Chamber. At the end, the parties agreed to hold joint events on providing social support to the families of martyrs and war-wounded, as well as ensuring their employment.AmCham Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, the Chamber is composed of over 260 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.Powered by Froala Editor
AmCham Azerbaijan pledges support to Government of the Azerbaijan Republic
The American Chamber of Commerce in Azerbaijan (“AmCham Azerbaijan”) pledges its full Support to the Government of Azerbaijan (“Government”) in post-war recovery period.As a largest business association in Azerbaijan uniting 260 members we stand ready to support the Government’s efforts in rehabilitation and development of the liberated territories and are willing to make our contribution. We will be working closely with the Government, wide local and foreign business community as well as other interested parties on finding and implementing sustainable policy and implementation solutions to this most important goal of our country. AmCham Azerbaijan also strongly welcomes the establishment of “YASHAT” Fund by the President Ilham Aliyev and is ready to provide all necessary assistance and support to it. The Chamber pays tribute to all heroes who sacrificed their lives and health for the country and calls on all its members to show necessary moral and financial support to the impacted families.Powered by Froala Editor
Support to the war-wounded and families of martyrs of the 44-day Patriotic War
During last two months our hearts have been beating with the Glorious Azerbaijani Army fighting against Armenian aggression for restoring the justice and obliging Armenia to peace.We once again congratulate all of you and the people of Azerbaijan on the brilliant Victory achieved as a result of the 44-day liberation campaign. AmCham extends its deepest condolences to the families of military servicemen who died heroically for the Victory and to the families of civilians who lost their lives a result of war crimes and terrorism perpetrated by Armenia.As you may already know, on December 8, 2020, the President Ilham Aliyev signed Order on establishment of “YASHAT” Fund in order to support the war-wounded and families of martyrs who protected the territorial integrity of the Republic of Azerbaijan. Under the presidential order, the Fund’s resources shall be formed through voluntary financial assistance (donations) provided by citizens of the Republic of Azerbaijan, Azerbaijanis living abroad, other individuals and legal entities, as well as other sources not prohibited by law.As AmCham, we applaud this initiative and support the establishment of the Fund. Staying committed to the last two years’ decision of the Chamber on changing the policy on delivery of traditional corporate gifts at the end of each year, we encourage all our members to donate holiday gift budgets to the “YASHAT” Fund.We once again pay tribute to all our heroes who sacrificed their lives and health for making our life better!Powered by Froala Editor