Assessment  Activities Proposed to be Enhanced in Azerbaijan

Business Materials 26 November 2008 21:39 (UTC +04:00)

Azerbaijan, Baku, 26 November / corr Trend U.Ismayilova / Azerbaijani Association of Assessors prepares to present to the Government the amendments to the Law on Assessment Activities, which was adopted in 1998 and does not meet modern requirements, MP Khanhuseyn Kazimli, Head of the Association, said during the international congress "Property Market in the condition of modernization of Azerbaijan's Economy: potentials of assessment activities development and international exchange of experience in this sphere".

"One of the basic proposals is to provide license to assessors, which was canceled in 1998 and allowed an opportunity to everyone to deal with these activities," Kazimli said.

Kazimli considers that the certification of the assessment activities is important because only people who got special education on assessment activities would work in this sphere. 

Many problems exist in this sphere, one of which is the lack of international standards, as well as special coefficient of assessment of real estate. Today due to the lack of such price coefficient, the prices on real estate are based on the prices of 1991. 

In Azerbaijan the assessment is conducted mainly in the sphere of real estate, which is not correct from the view of point of professionalism and this assessment should be applied on material and non-material resources, movables, jewelry and even on intellectual property.

Modern property market and its assessment were discussed in the congress. Experts from Turkey, USA, Belarus, Latvia, Moldova, Russia, Georgia, Kazakhstan and Kyrgyzstan participate at the congress. 

Nearly 80 physical and seven legal entities are members of the Association of Assessors.

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