Azerbaijan, Baku, 30 May / Trend E.Aliyev /
Countries of the region have seen the benefits of globalisation and involvement in international processes, the head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov said on Thursday, speaking at the opening of the international conference International Trade Law in the Caucasus and Central Asia: between regional integration and globalisation.
"Many countries are trying to reform the trade laws in order to facilitate a better trade regime and those of the Caucasus and Central Asia are no exception in this regard. The processes of regional integration and globalisation are on-going and will continue. Five of the nine countries in the region including Russia, are the Members of the World Trade Organisation (WTO). All the regional ones except for Georgia are members of the CIS. Countries of the region have bilateral free trade agreements, many of them are negotiating on a free trade agreement with the EU," Mammadov said.
According to him, all these examples demonstrate the activity and diversity of the processes unfolding in the region.
"There are other initiatives as well. Some of them bear not only economic but also political implications. Be that as it may, a variety of projects and initiatives in the region encourage the development of trade legislation," Mammadov said.
The head of AZPROMO said the conference will discuss various aspects of economic and trade legislation.
"In past 10 years, I was fortunate enough to take part in the development of trade regulation in Azerbaijan as well as witness the results of their application. Legislation in this area has been brought into line with international standards. It should be remembered that trade laws, local, regional and international, should serve for the benefit of the entire business community. Trading legislation directly affects both the entrepreneurs and society as a whole," Mammadov said.
Today, Baku is hosting the international conference entitled 'International Trade Law in the Caucasus and Central Asia: between regional integration and globalisation'. During the two-day event, experts from Azerbaijan, Georgia, Germany, Russia and Kazakhstan will discuss various aspects of international law in the economic sphere.