Cancellation of Jackson-Vanik Amendments for Azerbaijan is Positive Political Step to Expand Trade Links with US: Experts
Azerbaijan, Baku, 30 January / corr. Trend U. Ismailova/ The cancellation of the Jackson-Vanik amendment for Azerbaijan is a positive political step which can lead to the expansion of the trade and economic relations with US, Ogtay Hagverdiyev, the former head of the Economy and Financial and Credit
Department of the Cabinet of Ministers of Azerbaijan said.
At present the specific gravity of the trade between Azerbaijan and US totals to 1% as the oil and gas produced in the country is mainly exported to Europe.
Bill on the cancellation of the Jackson-Vanik amendments for Azerbaijan and Kazakhstan was submitted to the US Senate. It was first introduced in 1947 and envisaged the establishment of a normal foreign trade regime between US and USSR and the free emigration.
If we take into consideration the global energy security, the ban on the trade with any country is unfair and
unfounded, Ali Mesimov, the member of the Parliament Commission on Economic Policy said.
According to Mesimov, though this law is still in effect, the trade between Azerbaijan and US is developing in all the possible spheres. "The cancellation of the amendment will give impulse to the further development of the trade relations between Azerbaijan and US," the MP said.