At the 11th meeting of the Working Party on February 21, 2014 Azerbaijan’s World Trade Organization (WTO) accession bid gained positive momentum. Azerbaijan has been diversifying its economy away from reliance on the energy sector alone and has been encouraging direct foreign investment into other industries. The move to join the WTO is therefore an important part of Azerbaijan’s economic plans. WTO membership is likely to increase the attractiveness of investment in Azerbaijan for foreign enterprises.
WTO Members requested further clarifications from Azerbaijan on tax exemptions, investment incentives, operation of foreign-owned enterprises, privatizations, technical barriers to trade, subsidies, transit and intellectual property. Azerbaijan reported positive engagement with WTO members during bilateral market access negotiations on goods and services. Azerbaijan updated members on its legislative developments and reaffirmed its commitment to bring its trade regime into conformity with WTO rules. The WTO members have expressed support for Azerbaijan’s early accession.
