Finland encourages Azerbaijan to work actively towards accession in WTO (Exclusive)

Business Materials 10 May 2019 12:07 (UTC +04:00)

Baku, Azerbaijan, May 10

By Leman Zeynalova - Trend:

Finland encourages Azerbaijan to work actively towards accession in the World Trade Organization (WTO), Päivi Peltokoski, Head of Unit for Eastern Europe and Central Asia, Ministry of Foreign Affairs of Finland, told Trend.

“The European Union continues to be Azerbaijan's main trading partner. To make full use of the huge business potential between the two markets, it is important that companies have a stable and predictable business environment. Prosperity and trade are best served with a reliable and just judiciary system based on rule of law, combined with as little bureaucracy as possible, easy ways of doing business and consistent procedures transparency. We would encourage Azerbaijan to work actively towards the accession in the WTO,” she said.

Peltokoski said Finland is very pleased that trade, especially Finnish exports to Azerbaijan, have been growing.

“Azerbaijan purchases mostly machinery and technology from Finland. We also have a couple of large Finnish technology companies operating in Azerbaijan,” she said.

Azerbaijan started negotiations with WTO member countries in 2004. Currently, Azerbaijan is in the process of negotiations with 13 countries. Negotiations have already been completed and protocols signed with Turkey, Oman, the United Arab Emirates, Georgia and Kyrgyzstan. Azerbaijan is at the stage of signing protocols with China and Moldova.

Azerbaijan has recently implemented a number of reforms, including 12 strategic roadmaps for economic development, in the system of import customs tariffs, improved trade and logistics infrastructure.

It is expected that the implementation of the road maps will serve as the basis for the successful accession of Azerbaijan to the WTO. Accordingly, intensification of negotiations and completion of the process of Azerbaijan’s accession to the WTO will be possible only after receiving preliminary results from ongoing economic reforms in the country, which is expected until 2020.

Azerbaijan has an observer status at the World Trade Organization since 1997. Azerbaijani team under the WTO secretariat was established on July 16, 1997.


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