Azerbaijani business and trade was presented at Ronald Reagan International Trade Center on May 20, the United States-Azerbaijan Chamber of Commerce (USACC) reported.

Ronald Reagan Building and International Trade Center (ITC) has hosted USACC and Azerbaijan’s Export and Investment Promotion Foundation (AZPROMO) for a breakfast presentation titled “Business and Trade with Azerbaijan”.

The event purposed to brief the audience about fast-developing and emerging Azerbaijani market with focus on business opportunities in non-energy industry, including technology and communications, industry, agriculture, renewable energy and tourism.

The event was opened by Andrew Gelfuso, Director of Office of Trade Promotion at Ronald Reagan Building and ITC.

Gelfuso talked about the activities of Ronald Reagan Building and ITC and stressed the importance of holding business and trade events to inform the American audience about vast opportunities in countries like Azerbaijan.

Following, Aaron Brickman, Deputy Executive Director at SelectUSA, briefed the participants of the event on the mission of SelectUSA, highlighting the fact that it had been created at the federal level to showcase the United States as the world’s premier business location and to provide easy access to federal-level programs and services related to business investment.

He emphasized SelectUSA’s interest in interacting closely with USACC and AZPROMO, and enhancing closer business and trade ties between two countries.

Mark A. Stuckart, CFA for Product and Business Development at OPIC (Overseas Private Investment Corporation) highlighted Azerbaijan’s importance as a key U.S. ally and energy partner for Europe and touched upon the successful cooperation between two countries over the past 20 years.

He spoke about OPIC financing and funds that help U.S. businesses gain access to emerging markets, catalyzes revenues, jobs and growth opportunities both at home and abroad.

Next, Susan Sadigova, USACC Executive Director, focused on recent economic achievements and current business opportunities in Azerbaijan. In her presentation, she spoke about “Azerbaijan 2020” concept that outlines the stage-by-stage acceleration of the economy.

Talking about major projects initiated by Baku, such as High-Tech Park, TASIM, and Sumgait Chemical Industrial Park, Sadigova underlined the role of the Azerbaijani leadership in seeing through the realization of projects of regional and global importance.

She also outlined other opportunities in wide range of non-oil sectors, from renewable energy to agriculture, tourism, transportation, information and telecommunications.

U.S. Representative of AZPROMO, Elshan Baloghlanov informed the audience about AZPROMO’s activity and mission in the United States.

He particularly touched upon the “Flavors of Azerbaijan” and “Wine & Spirits of Azerbaijan” projects, and invited interested U.S. parties, especially food and beverage importers, wholesalers and distributors to cooperate with export-oriented companies of Azerbaijan.

Baloghlanov also briefed the audience on legal and tax matters, as well as cultural and regulatory considerations in doing business with Azerbaijan.

The World Bank (WB) and the International Finance Corporation (IFC) ranked Azerbaijan 70th in the Doing Business 2014 rating. Azerbaijan’s economy has improved its position, ranking 70th out of 189 countries in the world and, by a number of indicators; it is among the advanced countries.

According to the report, as a result of the implementation of 18 targeted reforms on regulations and the improvement of legislation in the area of improving the business climate, Azerbaijan’s economy has entered the list of the top 15 countries of the world.

The Doing Business 2014 report also included Azerbaijan in the list of 29 reformist countries thanks to the reforms in the “starting a business”, “construction permits”, and “international trade” spheres carried out in the country in 2012-2013.

AzerNews