Trade office head: Improving Azerbaijan’s economic freedom index testifies to reliability of country as business partner

Photo: Trade office head: Improving Azerbaijan’s economic freedom index testifies to reliability of country as business partner / Economy news

Baku, Azerbaijan, Jan. 18
By Emin Aliyev - Trend:

Improving Azerbaijan's position in "Index of Economic Freedom 2014" report testifies to the reliability of the country as a business partner, acting head of Russia's trade representative office in Azerbaijan Dmitry Akulenko said today.

By gaining 61.3 points out of 100 points, Azerbaijan ranked 81st among 186 world countries. It is among the averagely free countries from an economic point of view, according to "Index of Economic Freedom 2014" report, prepared by the Heritage foundation together with Wall Street Journal (USA). Azerbaijan moved up six steps and improved the economic freedom index by 1.6 points compared to 2013. The progress in financial management and ownership is indicated as a reason.

"Of course, improving the country's position in this ranking is a positive factor," Akulenko said. "This fact testifies to the fact that the investment, business environment continues improving. This will be beneficial for improving Azerbaijan's economic relations with foreign partners."

Over $ 150 billion have been invested in the national economy for the last 10 years.

"The report results will also affect the Azerbaijani- Russian cooperation," Akulenko added.

"Of course, we must continue working over some issues," he said. "One can not say that improving Azerbaijan's position in this ranking will solve them at once. But this achievement of Azerbaijani economy can be seen as another confirmation of the reliability of the country as a business partner. It will certainly have a positive impact on Azerbaijan's investment and business attractiveness."

The report emphasizes Azerbaijan's low public debt. There were very positive results associated with the state of public expenditure, tax, business, labor, trade, monetary policy, investments and financial freedoms.

Azerbaijan among 42 countries of Asia-Pacific region ranked 13th and its average point exceeds the average regional and global indices. Azerbaijan is ahead of such countries as India, Italy, Croatia, Serbia, Greece, Russia, Ukraine on the economic freedom level.

The economic freedoms have been significantly expanded in Azerbaijan recently. As a result of the coherent, large cyclical reforms, Azerbaijan is among the averagely free countries, according to the report.

translated by NH

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