Welcome to AmCham Azerbaijan

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Legal & Compliance

Legal & Compliance Committee was formed as a working group in 2017 to address legal and compliance issues faced by AmCham member companies operating in the Republic of Azerbaijan. The working group gained committee status in 2018.AmCham Legal and Compliance Committee focuses on the analysis of legislative and compliance issues influencing the investment climate in Azerbaijan. Input to AmCham White Paper is one of the main activities of the Committee. Leveraging the expertise of lawyers, economists and business leaders the Committee provides a ground for constructive discussion of issues affecting the investment attractiveness in Azerbaijan. Committee also provide strategic guidance and recommendations to the Board of Directors on the Chamber’s communication with regulatory authorities, law makers and government. Review and monitor the Chamber’s compliance and risk management activities and the effectiveness of any compliance and risk management programs established by the Chamber is another focus of the Committee. 

FMCG

The mission of FMCG Committee is to contribute to the improvement of legislation and legal practice in the areas of commercial and company law, as well as to promote standards of best practice in marketing goods and services. The issues of product safety, consumer protection, advertising etc. are of great public concern, abundant however in grey areas not yet being subject to legal scrutiny.The FMCG Committee is constantly working on the questions below to be addressed:• What are the legal requirements for the product to be marketed?• How to market the product lawfully?• How to abide by law in contacting consumers and competitors when marketing the product?Powered by Froala Editor

Construction Working Group

The WG is aimed at improving real estate and construction industry in the country, by raising issues of concerns and common challenges, developing best practices, encouraging sustainability and adoption of innovation technologies and approaches within the industry. 

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Some Facts about AmCham Azerbaijan

The American Chamber of Commerce in Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, AmCham is composed of over 260 Regular and Associate Member Companies active in every sector of the Azerbaijani economy. AmCham Azerbaijan represents nearly 80% of all foreign investment, as well as a significant portion of local investment, in Azerbaijan. Through its 10 industry sector committees, Member Companies are able to share information, raise issues of common concern and propose possible solutions. Being one of the largest and the most influential organizations in the country AmCham provides the best networking opportunities. Other membership benefits include access to the data on the latest tendencies in the market (through such information resources as AmCham White Papers, AmCham Annual Reports, IMPACT Azerbaijan Quarterly Magazines, Annual National Employee Salary Surveys, Quarterly Inflation Surveys); Member-to-Member Discount Program offers; U.S. Business Visa Facilitation Program benefits, etc.

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MEMBERSHIP TYPES

There are two types of AmCham affiliation: MEMBERS and ASSOCIATES with annual fees applied

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Immediately stay up to date with every members news updates

“Unicapital İnvestment Company” OJSC Unveils a Discount on Commissions for Wealth Management

8 May 2024

SABIS® SUN International School Invites AmCham Members to Open Day event

2 May 2024

Unity in Innovation: R Group Holding Unveils 'Yonca' at Upcoming Caspian Agro Azerbaijan International Agricultural Exhibition

30 April 2024

AMENDMENTS OF THE CABINET OF MINISTERS TO THE RESOLUTION "NORMS OF BUSINESS TRIP EXPENSES"

18 April 2024

SABIS SUN INTERNATIONAL SCHOOL ANNOUNCES EXCLUSIVE CORPORATE DISCOUNT FOR AMCHAM MEMBERS

15 April 2024

Deloitte Azerbaijan is pleased to provide you with this brief overview of the Azerbaijani personal tax and compliance procedures. For your convenience, this guide is presented as a list of FAQs and you can contact us to discuss your specific situation.

9 April 2024

Master class "Strategic Risk Management" by EY Academy of Business CCA

2 April 2024

Nowruz happenings at Four Seasons Hotel Baku

19 March 2024

IFTAR AT COURTYARD BAKU

19 March 2024

Passion moves us forward

19 March 2024

Spring Happenings at Four Seasons Hotel Baku

12 March 2024

Dive into Digital with Cubics: Simple Solutions, Big Results

7 March 2024

March Happenings at Four Seasons Hotel Baku

5 March 2024

Women's Day Happenings at Four Seasons Hotel Baku

19 February 2024

Unlocking Productivity and Connection: How SmartPoint Intranet Transforms Corporate Culture

19 February 2024

PwC INVITATION to Online Webinar: Mastering Dispute Resolution: Unveiling the Innovation of the Legal Consortium for Arbitration and Mediation (LCAM)

15 February 2024

Cyber and Technology News Digest for January

14 February 2024

February Happenings at Four Seasons Hotel Baku

13 February 2024

SMART business – a partner in building a comprehensive IT ecosystem of solutions for transforming business processes

12 February 2024

Key Transfer Pricing Compliance Aspects for 2024

30 January 2024

Book ski instructors directly on Shahdag website!

30 January 2024

Heydar Aliyev Cup - Registration Now Open!

29 January 2024

February Happenings at Four Seasons Hotel Baku

29 January 2024

Live stream: IFRS Consolidation in Practice with SAP BPC

9 January 2024

January Happenings at FS Baku

8 January 2024

SİMA İmza became the winner of the MilliNet and NETTY competitions

19 December 2023

Top law firm in Central Asia - Chambers Asia-Pacific 2024 ranks Dentons as a leader in the region

14 December 2023

Dentons affirms its strong standing in Europe in 2023 edition of IFLR1000.

14 December 2023

Festive Happenings at Four Seasons Hotel Baku

11 December 2023

Festive Happenings at Four Seasons Hotel Baku

6 December 2023

Exciting Partnership Alert: Bloom Group is now partners with BBDO CA, part of BBDO Worldwide – the most awarded global advertising agency

30 November 2023

Get a business loan from PASHA Bank with “SİMA İmza” without leaving the office!

28 November 2023

FOUR SEASONS HOTEL BAKU DECEMBER HAPPENINGS

27 November 2023

Number of users of SİMA İmza application has exceeded 500,000

23 November 2023

AzInTelecom starts cooperation with an influential company of South Africa

22 November 2023

Introducing Festive Offers at Four Seasons Hotel Baku

20 November 2023

Apply for a loan with SİMA İmza without providing any documents!

20 November 2023

Discover the world of opportunities at InMerge Innovation Summit!

20 November 2023

"Educational Management Summit" will be organized jointly by Roof Academic Training Educational Company and Facemark

20 November 2023

Purchase a house with SİMA İmza in the SHCA “Affordable Housing” system!

17 November 2023

FOUR SEASONS HOTEL BAKU NOVEMBER HAPPENINGS

6 November 2023

November Happenings at Four Seasons Hotel Baku

30 October 2023

SOME AMENDMENTS AND CHANGES TO THE TAX CODE OF THE REPUBLIC OF AZERBAIJAN FOR 2024

26 October 2023

EY announces the launch of EY Entrepreneur Of The Year™ 2023-2024

4 October 2023

Prevent someone else from signing a document on your behalf with SİMA İmza!

2 October 2023

“CEHİZ” LAYİHƏSİ": DIALOGUE BETWEEN GENERATIONS AND STUDYING DOWRY CULTURE IN AZERBAIJAN

22 September 2023

VOLVO: For Life

20 September 2023

Hospitality Law in Azerbaijan

20 September 2023

5000 AZN gift for teachers and their family members at Greenville Residence!

20 September 2023

12.5 thousand IMEI codes connected to the network with more than 1.3 million numbers were assigned the “clone” status

19 September 2023

International Astronautical Congress in Baku brings excitement and business opportunities

11 September 2023

SEPTEMBER HAPPENINGS AT FS HOTEL BAKU

11 September 2023

Log in the electronic cabinet on E-taxes.gov.az using SİMA Token!

11 September 2023

74th International Astronautical Congress

5 September 2023

SEPTEMBER HAPENINGS AT FOUR SEASONS HOTEL BAKU

4 September 2023

Motorcycle Festival at Shahdag Mountain Resort

24 August 2023

Founding partner of Legalize Law Firm becomes a Fellow of the Chartered Institute of Arbitrators

18 August 2023

Deadline for Sponsorship and Exhibition Application at the 74th International Astronautical Congress extended

18 August 2023

Amelioration and Water Farm partially transferred its informatıon systems to the Government Cloud

17 August 2023

ROOF Academic Training yeni TOP TALKS layihəsi ilə qarşınızdadır

15 August 2023

Opening new bank accounts has become easier with SİMA

15 August 2023

Veyseloglu Group of Companies Announces its Monthly Retail Price Index

8 August 2023

Never Ending Summer Happenings at Four Seasons Hotel Baku

7 August 2023

Legal Updates presented by BAKER TILLY

4 August 2023

Digitalization on Boards 5th Edition by Amrop

2 August 2023

Enhance Your Career in Auditing: Enroll in EKVITA Academy's Training Program

31 July 2023

Destination Fabulous Summer Happenings at Four Seasons Hotel Baku

31 July 2023

Limited Time Offer by PASHA Property Management for AMCHAM Members at Knightsbridge Residence

26 July 2023

EKVITA CONDUCTS ANTI-BRIBERY COMPLIANCE TRAINING FOR PRIVATE AND PUBLIC SECTOR ORGANIZATIONS.

11 July 2023

Exclusive Offer for AmCham Members: 5% Discount on Greenville Premium Residence Apartment Purchases

6 July 2023

Tax and Legal newsletter presented by BAKER TILLY

6 July 2023

5 tools to increase corporate sales with Cubics BMS

25 June 2023

Tax and Accounting Bulletin 2023

23 May 2023

Latest changes to legislation in April 2023

4 May 2023

Trade in your premium car to Volvo and get a special discount of 2 000 AZN

1 May 2023

SPRING HAPPENINGS AT FS HOTEL BAKU

1 May 2023

Four Seasons Hotel Baku Spring Happenings

3 April 2023

Four Seasons Hotel Baku February Happenings

13 February 2023

FOUR SEASONS HOTEL BAKU FEBRUARY HAPPENINGS

6 February 2023

“Nar” continues vocational training for special people in 2023

24 January 2023

Remaining time to start of 17th AmCham Annual Black & White Ball 2024

BLACK & WHITE BALL

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Important highlights from AmCham Events
15 October 2024

AmCham Members’ October Luncheon

October 15, 2024, The American Chamber of Commerce in Azerbaijan (AmCham) hosted its highly anticipated October Luncheon with Honorable Guest Speaker Mr. Emin Amrullayev, Minister of Science and Education of the Republic of Azerbaijan. The event served as a crucial forum for fostering dialogue between the government and the business community, with a focus on the pivotal role of education in shaping the country’s socio-economic development.In his opening remarks, Dayanat Sadullayev, President of AmCham Azerbaijan, extended gratitude to Minister Amrullayev for his participation and acknowledged the importance of collaboration between the public and private sectors in advancing Azerbaijan’s education system. Mr. Sadullayev highlighted AmCham’s ongoing commitment to supporting government initiatives that aim to elevate the quality of education and align it with global standards. He praised the Chamber’s active collaboration with the Ministry of Science and Education, noting how such efforts help bridge the gap between educational reforms and the needs of the business sector.Minister Amrullayev's speech highlighted the transformative progress in Azerbaijan’s education sector, outlining strategic priorities under the government’s 2022-2026 Social and Economic Development Strategy. Emphasizing the integration of science and education, the Minister discussed ongoing reforms aimed at modernizing the national education system, aligning it with international best practices, and equipping students with the skills necessary for success in a globalized world.In his address, Minister Emin Amrullayev underscored not only the critical educational reforms underway but also extended a call for corporate responsibility in youth development through sports. As the President of the Azerbaijan Basketball Federation since 2021, Minister Amrullayev has played a pivotal role in advancing basketball in Azerbaijan. He noted that fostering youth engagement in sports, particularly basketball, is vital for nurturing well-rounded individuals who can contribute to both the nation’s social and economic future.Minister Amrullayev urged the business leaders present in the audiance to consider supporting sports initiatives, including the Azerbaijan Basketball Federation, as part of their corporate social responsibility efforts. He emphasized that such support would not only promote a healthy lifestyle and teamwork among Azerbaijani youth but would also provide them with opportunities for personal growth, leadership development, and national pride. By investing in youth programs and sponsorships in sports, corporations can play an instrumental role in shaping the future workforce and contributing to the country’s broader socio-economic goals.Following the Minister’s address, the event continued with AmCham Azerbaijan’s traditional luncheon presentations, allowing both new and long-standing members to showcase their contributions and expertise, fostering collaboration and networking within the business community.Deloitte Azerbaijan introduced its "Best Managed Companies" program, recognizing top privately owned Azerbaijani businesses for excellence in governance, operations, and leadership.SMART Cloud LLC presented digital solutions, including ERP, CRM, and HRM tools, emphasizing the importance of digital transformation and a strong digital culture. Hertz Azerbaijan LLC highlighted its 21-year experience in transportation, offering B2B and B2C services and stressing health, safety, and environmental responsibility.JURIS Law Center wrapped up with an overview of its legal expertise, providing strategic solutions for local and international businesses in Azerbaijan.In addition, attendees were introduced to a new historical movie project, Azerbaycan Atabeyleri, a national initiative that showcases Azerbaijan’s rich cultural heritage during the Atabey period. The film, which explores cultural renaissance of that era, is poised to play a key role in promoting Azerbaijan’s history both domestically and internationally. The project underscores the significant contribution of cinema to preserving and celebrating national identity, while also highlighting the role of cultural projects in education and national pride.The event concluded with a networking lunch, allowing participants to engage in further discussions, explore potential partnerships, and strengthen ties within the business community.AmCham Azerbaijan remains committed to creating opportunities for meaningful engagement between the government and the private sector, with events such as the October Luncheon serving as a testament to the Chamber’s role in promoting dialogue, collaboration, and innovation across industries.Click for all the media from the eventClick for the highlights from the event

24 September 2024

AmCham Green Finance Conference

On September 24, 2024, The American Chamber of Commerce in Azerbaijan (AmCham) successfully convened its exclusive Green Finance Conference, setting a new standard for the region’s efforts to address climate change and accelerate the green finance agenda. The conference, driven by the initiative of AmCham's Banking, Finance, and Insurance (BFI) committee, congregated government officials, financial leaders, and sustainability experts to explore innovative financial solutions aimed at supporting Azerbaijan’s transition to a low-carbon, resilient economy in anticipation of COP 29.The event achieved its exceptional success through the esteemed support of key partners, including the International Finance Corporation (IFC), Unibank, Yelo Bank, ExxonMobil, Baku Stock Exchange, Unicapital, InvestAZ, and Dayaq, whose collaboration was instrumental in organizing such a meaningful and impactful conference.In his opening remarks, Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, underscored the critical role of green finance in transforming Azerbaijan’s economy and safeguarding its future. He emphasized, “This conference reflects AmCham's commitment to aligning Azerbaijan's financial systems with global sustainability goals. As COP 29 approaches, we are focused on leveraging green finance to position Azerbaijan at the forefront of the climate action movement.”Following Mr. Sadullayev, Mr. Shahin Mahmudzade, Executive Director of the Central Bank of Azerbaijan, stressed the responsibility of the financial sector in mobilizing capital to meet the country’s ambitious environmental targets. The third speaker, Ms. Gunay Jalilova, Chairperson of the BFI Committee and Deputy CEO of Yelo Bank, highlighted the pivotal role the BFI committee played in organizing the conference and stressed the importance of the financial sector's ongoing commitment to sustainability. Ms. Jalilova spoke about how Azerbaijani financial institutions are uniquely positioned to advance green finance initiatives by integrating sustainable practices across all levels of the economy.The conference’s first panel, Sustainable Market Opportunities, was moderated by Ms. Stefanie Stallmeister, Country Manager for the World Bank in Azerbaijan. She opened the discussion by presenting the Azerbaijan Country Climate and Development Report (CCDR), which outlined the nation’s climate priorities. Ms. Stallmeister was joined by industry experts who shared insights on key areas of sustainable development. Mr. Murad Sadikhov, Country Manager at Masdar, and Ms. Khayala Nagiyeva, CFO and Member of the Board at Azerbaijan Green Energy Company, highlighted the latest developments in Azerbaijan's renewable energy sector, focusing on ongoing initiatives and future opportunities in solar, wind, and hydropower. Mr. Taciano Custodi, Head of Sustainability at Rabobank Brazil, addressed the significance of climate-smart agriculture in increasing productivity while minimizing environmental impact, a vital area for Azerbaijan’s agrarian economy. Ms. İrem Barzilay, Head of Sustainable Finance at Garanti BBVA, contributed by discussing decarbonization opportunities and the financial sector's essential role in reducing carbon footprints and facilitating a transition to a low-carbon economy.The second panel, moderated by Ms. Leyla Huseynli from the International Finance Corporation (IFC), focused on Sustainable Finance Products. Ms. Huseynli and her fellow panelists offered in-depth case studies on green bond issuances and the development of green portfolios. Mr. Kyrylo Mykhomedzyanov from IFC provided international expertise on green portfolio development. Ms. Ana Osadze, Head of ESG and Sustainability at Bank of Georgia, shared the bank’s innovative approach to green financial products, emphasizing the importance of education, partnerships, and tailored lending frameworks in promoting sustainable development. She highlighted the bank’s progress in fostering green finance initiatives. Mr. Nurlan Hajiyev, Senior Director and Country Manager at Visa, introduced the concept of green calculation, a tool designed to help businesses and consumers track and reduce their carbon footprints through financial transactions. Additionally, Mr. Farid Abushov, Chairman of the Management Board at Unibank, offered a local perspective, detailing how Azerbaijani financial institutions are adapting to global trends by developing and offering sustainable financial products.The third panel, Green Finance Investment and Infrastructure, explored how investment in sustainable infrastructure can promote long-term environmental and financial resilience. Moderated by Mr. Vugar Namazov of Unicapital, the discussion featured leading voices in the field of green finance. Mr. Manas Gizhduaniyev, CEO of the Astana Green Finance Centre, discussed his Centre’s leadership in promoting sustainable bonds across Central Asia, while Ms. Samra Talishinskaya-Abbasova from Unibank highlighted the transformative potential of technological innovation in green finance. She emphasized the importance of accurate ESG data and the role it plays in mitigating greenwashing. Other panelists addressed the importance of governance, technology, and market mechanisms in supporting green finance initiatives. Mr. Ruslan Khalilov, CEO of the Baku Stock Exchange, examined how leveraging technological innovations can foster green finance through capital markets, positioning the exchange to attract sustainable investments. Mr. Boris Janjalia, ESG Advisory Team Lead at IFC, spoke about the significance of E&S Risk Management and the role of transparent ESG reporting in preventing greenwashing and building trust in green financial products.This landmark event came at a pivotal time, as Azerbaijan prepares for its participation in COP 29. Throughout the conference, speakers emphasized the need for collaboration between the public and private sectors to scale up green investments and build a sustainable, low-carbon economy. Discussions also underscored the essential role of financial institutions in achieving the climate goals outlined in the Paris Agreement, particularly through the development of innovative green finance products and sustainable infrastructure investments.AmCham Azerbaijan’s Green Finance Conference, organized with the valuable contribution of the BFI committee, represents a significant milestone in the country’s green finance journey, reaffirming its commitment to leading regional efforts toward sustainability and climate resilience.Click for all the media from the eventClick for the highlights from the event

23 September 2024

AmCham Azerbaijan joined the 4th International Cyber Security Days (ICSD-2024) Conference

AmCham Azerbaijan took an active role in the 4th International Cyber Security Days (ICSD-2024) conference, held on September 19-20, 2024. The conference brought together top cybersecurity professionals, and leaders from the public and private sectors, both locally and internationally.AmCham’s Board members Mr. Dayanat Sadullayev, Mr. Zaur Allahverdizade, Mr. Oscar Bogopolskiy, Mr. Babek Aghayev and Ms. Rena Mammadova engaged as panelists, offering their insights on pressing cybersecurity concerns and the latest developments in the field.The conference, themed "Cyber Security for the Green Economy," focused on innovations and the emerging challenges posed by digital transformation. It also explored global best practices for safeguarding systems, networks, and data against cyber threats. As the digital landscape evolves, cyber security has become crucial for businesses, governments, and individuals in protecting sensitive information and maintaining trust.

1 August 2024

AmCham Azerbaijan launched its Sustainability Handbook for Businesses

On August 1, 2024, American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted a groundbreaking event to launch the Sustainability Handbook for Businesses. This event successfully united leaders from various sectors to discuss and promote sustainable practices and innovative solutions to contemporary environmental and economic challenges.Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli, delivered the welcome speech, setting a constructive tone for the day's proceedings and emphasizing the importance of the topics discussed. Following her, Mr. Dayanat Sadullayev, the newly appointed President of AmCham Azerbaijan, greeted the audience warmly and outlined the chamber's ongoing initiatives and commitment to fostering a sustainable business environment.Mr. Bakhtiyar Aslanbayli, Vice President of BP Azerbaijan, extended greetings to the audience on behalf of BP. Taking the opportunity, he congratulated the newly elected board of directors and wished them success in their endeavors. Mr. Aslanbayli underscored the significance of the Sustainability Handbook for Azerbaijan's economy and highlighted the key aspects and primary objectives of the book's creation. Afterwards, Ms. Vladanka Andreeva, UN Resident Coordinator in Azerbaijan, then highlighted the UN's efforts and partnerships aimed at achieving sustainable development goals in the region. Ms. Rena Tahirova, Chairperson of the AmCham SD&CI Committee, provided an introduction to the committee's work and its role in promoting sustainable development and corporate innovation. She noted that the handbook is a comprehensive guide designed to enhance the private sector's knowledge in environmental, social, and governance (ESG) practices. The AmCham Sustainability Handbook serves as a practical tool, offering detailed approaches and various perspectives on sustainable development that businesses can apply in both daily operations and strategic goal setting.Following the introductory speeches, Mr. Ilkin Hajiyev, Executive Director at Sustainera Solutions, presented the newly launched Sustainability Handbook. His presentation covered key strategies and practical steps outlined in the handbook, designed to guide businesses in implementing effective sustainable practices. Participants engaged with Mr. Hajiyev through questions and discussions about the handbook's content.Ms. Rena Mammadova, Board Member of AmCham Azerbaijan, provided remarks on the 15-year journey of the Coastal Cleanup Campaign, emphasizing its impact and achievements. She then introduced Ms. Tukezban Huseynova, Director of EcoHUB NGO, who presented detailed insights into the campaign's strategies, outcomes, and future plans.Later, Mr. Farrukh Ali, CEO of PASHA Future Lab | PASHA Innovation, announced the upcoming INMERGE Innovation Summit 2024, highlighting the event's focus on driving technological advancements and fostering an innovation ecosystem in Azerbaijan.The event concluded with a networking lunch, offering attendees the opportunity to further discuss the day's topics, exchange ideas, and explore potential collaborations.Click here to read the handbook Click for all the media from the event

24 July 2024

AmCham Sustainability Handbook Released

AmCham Sustainability Handbook Releasedinterview with Rena Tahirova, Chairperson of Sustainable Development and Corporate Impact Committee of the American Chamber of Commerce in AzerbaijanAmerican Chamber of Commerce in Azerbaijan (AmCham) considers the significant impact of private sector on addressing global issues such as climate change and sustainability. The Chamber believes that companies must understand their role in shaping climate policy, contributing to sustainability efforts, and leveraging opportunities for innovation and development. By fostering dialogue and cooperation between the private sector, government, and other stakeholders, the Chamber aims to promote meaningful actions towards a more sustainable and resilient future. We discussed these activities with the Chair of the AmCham Sustainable Development and Corporate Impact Committee, Rena Tahirova.Rena, for the first time in Azerbaijan's history, AmCham is releasing the Sustainability Handbook. What is this handbook?This handbook is a comprehensive guide aimed at supporting and enhancing the private sector's knowledge in the areas of environmental, social, and governance (ESG) practices. The AmCham Sustainability Handbook serves as a practical tool offering detailed approaches and various perspectives on sustainable development that the private sector can apply in both daily operations and strategic goal setting.Why did you choose to release this practical guide now? We have long desired to release a Sustainability Handbook, having discussed it for about 2-3 years. We are very pleased that, in partnership with Sustainera Solution and with the support of BP Azerbaijan, this opportunity has now arisen. Currently, the integration of sustainable development principles into corporate management standards has become an crucial. Companies are facing situations where adherence to ESG principles is a prerequisite for continued business development, but in practice, it is not always clear which standards are applicable, how to apply them, and how to set long-term and short-term goals. I believe this handbook will become a desk reference for business development, sustainable development, and HR professionals.The relevance of the AmCham Sustainability Handbook lies in its accessible language and clear information on existing trends, goals, and standards. Considering that the implementation of ESG standards is currently a priority for the state, its relevance is undeniable. Moreover, the universality of the AmCham Sustainability Handbook makes it interesting not only for the private sector but also for professionals in government structures and students.Lastly, in developing Handbook, we aimed to create a resource that promotes the exchange of practices and helps companies mitigate environmental and social risks. It is widely acknowledged that non-financial risks now dominate over financial ones, related to social and environmental issues. Therefore, our goal in enhancing corporate governance through the implementation of ESG standards is risks reduction and achieving positive change.Rena, we use the term "Sustainable Development"... But what is "Unsustainable Development"?Sustainable development entails a harmonious blend of economic growth, social justice, and minimal impact on the environment. In contrast, unsustainable development is a model primarily focused on economic achievements aimed solely at profit generation and capital accumulation. Unsustainable development results in environmental degradation, social inequality - a significant gap between the rich and the poor, deteriorating living conditions, and economic instability. Often, businesses are focused solely on short-term goals, only on the present moment, which frequently leads to economic instability. Sustainable development, on the other hand, involves a long-term strategy consisting of short-term steps. Thank you so much... Rena, there is an opinion that sustainable development is an expensive pleasure... Can businesses calculate how beneficial it is in the long or medium term to be sustainable?Yes, the opinion that sustainable development is indeed an expensive endeavor and may not always be affordable for small and medium-sized enterprises is widely spread and it is true. Because ESG approach is required to innovations, additional investments in new technologies, science based approach which may not always be within the means of medium and small entrepreneurs. In such situations, the support of international and governmental financial institutions is important, including grants, loyal loan programs, and the provision of expert and advisory services. Implementing sustainable development approaches at the initial stage requires investment, which may initially seem unreasonably expensive, but in the long run, it brings significant benefits to businesses that are concrete and measurable. For example, this includes cost savings on energy resources and production costs. For example, by effective waste management and circularity approach the initial waste can become a row material in production circle. As I already mentioned the sustainable development stimulates innovative approaches, and any innovation always gives a competitive advantage in the market - it not only increases productivity but also employee loyalty - because one of the key principles of the social part of ESG is a social approach, transparency, accountability, compliance and human rights. Companies that invest in sustainable development practices today will be in a more advantageous position tomorrow, possessing advantages in terms of specific economic resources and reduced risks. To demonstrate all the benefits of sustainable development practices, the AmCham Sustainability Handbook was created, including.When the Handbook will be released?The handbook will be available from 1st August on AmCham website - https://amcham.az/en/other-publicationsThank you for the insightful interview, Rena.Thank you for your interesting questions.. 

25 June 2024

AmCham Annual General Meeting 2024 was held

American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) held its Annual General Meeting (AGM) on June 25, 2024. This significant event featured the elections for the Board of Directors and the President of AmCham Azerbaijan.Mr. Ilkin Hajiyev from Sustainera Research and Consulting Services was elected as the Chairman of the General Meeting, while Mr. Yusif Abbasov and Mr. Abdulla Huseynli were elected as the tellers. Mr. Hajiyev introduced the 13 candidates running for 10 vacant positions on the Board of Directors. During the ballot counting, Former President of AmCham Azerbaijan, Ms. Nargiz Nasrullayeva-Muduroglu delivered a comprehensive presentation on the accomplishments achieved during her presidency and concluded with a farewell speech. She highlighted the achievements and initiatives during her tenure and expressed her gratitude to the AmCham community for their dedication and contributions. Ms. Nasrullayeva-Muduroglu also extended her best wishes to the new Board of Directors in their ongoing efforts to fulfill the Chamber’s mission and strategic objectives.The anonymous voting process involved authorized representatives of AmCham Regular Members, all of whom have a strong business reputation and standing in the community. The Chairman of the AGM announced the election results for the new Board members, who will serve a two-year term from 2024 to 2026. The newly elected Board members are:Rana Mammadova, Coca-Cola Azerbaijan Dayanat Sadullayev, PASHA HoldingZaur Gurbanov, SOCARZaur Allahverdizade, Baker Hughes Services Representative Office in Azerbaijan and GeorgiaImran Ahmadzada, NEQSOL Holding Kanan Tabasaransky, Smart Solutions GroupKamil Valiyev, Dentons Oscar Bogopolskiy, McDonald’s AzerbaijanNuran Kerimov, Deloitte AzerbaijanBabek H. Aghayev, PROSOL CompanyAmong these elected Board Members, Mr. Dayanat Sadullayev from PASHA Holding was elected as the President of AmCham Azerbaijan.The AGM concluded with a speech by Ms. Gulnara Aslanbayli, who extended her best wishes to the newly appointed President and Board Members.Click for all the media from the eventClick for the highlights from the event

7 May 2024

AmCham Hosted "Meet Your Candidate" Cocktail Reception

Reflecting on a cherished annual tradition, the AmCham "Meet Your Candidate" Cocktail Reception took place on March 7, 2024. This special event brought together the dynamic AmCham community for an evening of networking and engagement, providing members with the invaluable opportunity to connect with candidates running for vacant seats on the AmCham Board of Directors.Amidst friendly and relaxed atmosphere, attendees enjoyed listening to the candidates' speeches while sipping on cocktails, offering a refreshing break from their busy schedules.This year, there are 10 vacant positions on the Board, each vital for representing the business community effectively. Board members dedicate their time and expertise voluntarily to serve for a two-year term (2024-2026), with one member also being elected as President and Chairman of the Board of Directors.A total of 14 accomplished professionals stepped forward, each offering their unique vision and dedication to steer AmCham towards continued excellence. The list of candidates includes:Oscar Bogopolskiy, CEO of McDonald’s AzerbaijanZaur Allahverdizade, Head of Compliance Department for the MENATI and CIS regions and the Head of Baker Hughes Services Representative Office in Azerbaijan and GeorgiaDayanat Sadullayev, Chief of Staff, Member of Executive Committee at PASHA HoldingZaur Gurbanov, Vice-President of SOCARBabek H. Aghayev, Co-Founder & Chairman of the Board of Director of PROSOL CompanyKamil Valiyev, Partner and Co-Managing Officer at DentonsRana Mammadova, General Manager of Coca-Cola AzerbaijanKanan Tabasaranskiy, Founder of Smart Solutions GroupImran Ahmadzada, CFO of NEQSOL Holding & Head of NEQSOL Holding AzerbaijanNuran Kerimov, Managing Partner of Deloitte AzerbaijanShola Aliyeva, Group CHRO, Management Board Member at STP Group of CompaniesShirin Aliyeva, Chief Legal, Ethics and Compliance Officer, Member of Executive Team of Azercell Telecom Azer Babayev, Partner at EY AzerbaijanIgor Yakovenko, General Director of AZEL Systems Bear in mind that the elections themselves will take place at the Annual General Meeting(AGM) to be held on June, 2024.Click for highlights from the event. Click for all the media from the Event.

3 May 2024

AmCham Human Resources “HR tech in Learning and Development” Webinar

On May 3, 2024, AmCham’s HR & Labor Committee organized an educating webinar on “HR tech in Learning and development”. The event was led and facilitated by SMART business representatives who are specialized in modern HR solutions.After the opening of the day, Mr.Ievgen Belobrov, Product Owner of SMART HCM & LMS and LMS, talked through their company vision and took the audience through the top priorities for HR Leaders in 2024 one of which is HR technology. After that, Mr.Belobrov talked through the difference between upskilling and reskilling and in which cases, the companies can utilize these approaches to create business value and better employee engagement and development. The session continued what E-learning means, what it covers and how modern world demands this digital approach to employee development. The largest part of the session was dedicated on Individual Development Plans (IDPs) – a learning agreement between the employee and their employer on employee’s goals for growth and development. Its elements, benefits, and monitoring process were heavily discussed. One of the important points made was how IDPs can turn into investment in the employees and the future of the organization. The session was held interactively with different live polls to get event participants’ feedback on different phases in employee development in their companies and people also had the opportunity to ask questions and share insights at the end of the webinar. 

29 April 2024

AmCham Executive Director Ms. Gulnara Aslanbayli participated in ACE Conference in Washington, D.C., and Miami

AmChams in Europe (ACE), representing 50 American Chambers of Commerce from 48 countries, held its annual U.S. delegation conference from April 22 to 26, 2024, in Washington, D.C., and Miami. Ms. Gulnara Aslanbayli represented American Chamber of Commerce in Azerbaijan among the 41 AmCham Executives from 31 countries present in the conference. The ACE Conference serves as a platform to bolster awareness of AmChams in Europe, foster partnerships, and gain insights into the prevailing U.S. business and political landscape. Throughout the event, participants engaged in high-level discussions, met with key decision-makers, and visited government institutions and corporate headquarters.The conference commenced with a dynamic session at the U.S. Chamber of Commerce, featuring notable speakers such as Suzanne Clark, President and CEO of the U.S. Chamber of Commerce, and Marjorie Chorlins, Vice President of European Affairs at the U.S. Chamber of Commerce and others. Discussions covered strategic insights on various topics, including the U.S. economy, geopolitical risks, and transatlantic cooperation.Notable highlights of the conference included dialogues at the U.S. Department of Commerce and the Atlantic Council, where participants gained valuable insights into transatlantic relations and the upcoming U.S. elections. The conference also featured engaging discussions on key sectors for cooperation, including energy, AI, cybersecurity, and defence.In Miami, the ACE delegation explored opportunities for international business and trade with organizations such as the Greater Miami Chamber of Commerce and the Royal Caribbean Group. These discussions focused on sectors vital to Miami's economy, including infrastructure, tourism, and technology.As the conference concluded, participants left with a renewed sense of purpose and anticipation for future collaborations. The event underscored the significance of transatlantic cooperation and highlighted the role of AmChams in fostering robust business environments on both sides of the Atlantic.Gulnara Aslanbayli expressed her enthusiasm about the outcomes of the ACE Conference, stating, "The conference provided invaluable opportunities to strengthen partnerships and gain insights into key issues shaping transatlantic relations. We look forward to building on these discussions to drive growth and prosperity for our member organizations."The ACE Conference in Washington and Miami marked another successful gathering of AmChams in Europe, setting the stage for continued collaboration and progress in the years ahead.

16 April 2024

AmCham Azerbaijan held its second event on Stakeholders' Dialogue for Climate Change – Sustainable supply chain practices.

Within the framework of preparation for the 2024 UN Climate Change Conference, AmCham Azerbaijan is hosting a series of six events titled "Stakeholders' Dialogue for Climate Change." This initiative is designed to foster dialogue, awareness, and collaboration among businesses in Azerbaijan in preparation for the upcoming UNFCCC COP 29 event, to be held in Azerbaijan in November 2024. Building on this initiative, on April 16, 2024, AmCham Sustainable Development & Corporate Impact Committee organized a joint meeting with Procurement Committees on discussing the sustainable supply chain practices for the further growth of the businesses.The meeting was opened with the welcome notes from Ms. Gulnara Aslanbayli, AmCham Executive Director, Mr. Jeyhun Atayev, Deputy Chairperson of SD&CI Committee and Ms. Natavan Mamedova, Deputy Chairperson of Procurement Committee, who welcomed guests and gave them brief overview on the “Stakeholders' Dialogue” initiative.Welcome address by Port of Baku Chief Operations Officer, Mr. Eugene Seah and Program Manager for Sustainable Development Initiatives, Mr. Gurban Karimbayli, highlighted the role of ESG-related activities in the implementation of the port's development strategy. Later, Mr. Mahammad Aliyev, Port of Baku Projects Manager, shared an overview of green solutions in the port operations.Afterwards, team members of BP Azerbaijan - Nurlan Mahmudov, Advanced Drilling Fluids Plant Manager and Ms. Narmin Jafarova, Drilling Fluids Analyst, shared their presentation on how to minimize waste, maximize resource efficiency and promote sustainable practices across operations by incorporating circular economy principles into business model.The second guest speaker, Maria Teresa Pisani, Chief of Trade Facilitation Section under Economic Cooperation and Trade Division of the United Nations Economic Commission for Europe, made presentation on exploration of the benefits for businesses from sustainability practices in supply chain management- with the special focus on global experiences, particularly in developing and transit countries.The presentations were accompanied by the Q&A sessions and after the closing remarks, the meeting participants had the tour to Port of Baku facilities.AmCham Sustainable Development & Corporate Impact Committee meetings, a pivotal part of the series, delve into crucial topics such as understanding the significance of the UN Climate Change Conference for business circles in Azerbaijan, sustainable supply chain practices, role of corporate governance in eco-friendly business operations, global non-financial reporting practices vis-à-vis the Azerbaijani legal framework, legal regulations surrounding Azerbaijan's ESG Agenda, as well as available tax incentives. Additionally, discussions explore the status and prospects of the circular economy in Azerbaijan.It should be noted that AmCham Azerbaijan recognizes the critical importance of businesses in addressing global challenges such as climate change. As Azerbaijan approaches COP29, it is imperative for businesses to understand their role in shaping climate policies, contributing to sustainability efforts, and leveraging opportunities for innovation and growth. February committee meeting aims to elucidate why businesses should actively participate in COP29 and how their engagement can yield mutual benefits. By fostering dialogue and collaboration among businesses, policymakers and stakeholders, the Chamber seeks to catalyze meaningful action towards a more sustainable and resilient future.