Welcome to AmCham Azerbaijan

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Banking, Finance and Insurance

The Committee oversees the entire financial services industry, including banking and insurance industries. The committee concentrates on those issues that can off set American and Azerbaijan-US joint venture business in Azerbaijan.  Finance committee works towards bringing greater understanding of the Azerbaijan Financial system.  Better consideration of financial systems and a more robust financial infrastructure helps us to ensure both sustainable economic growth and social progress within the country. AmCham’s financial committee exists to raise and allocate finance. AmCham commonly undertake activities in order to bring organization’s together to provide a range of financial services for its members.BFI Committee seeks to support and promote the interests of AmCham’s Banking, Finance and Insurance members. It does this by facilitating discussions on issues affecting the sector, inviting guest speakers and by seeking to act as an advocacy body to defend and promote the interests of the sector as a whole with respect to Government and regulatory bodies.Powered by Froala Editor

Sustainable Development and Corporate Impact

PurposeAcknowledging a changing world, the Sustainable Development and Corporate Impact Committee seeks to find and promote the appropriate balance between the economic, environmental and social aspects of the business community to ensure sustainability for current and future generations. More and more businesses wish to incorporate sustainable practices in their day-to-day operations. The Sustainable Development and Corporate Impact Committee aims to assist these businesses with education, support and recognition through workshops and other initiatives. Responsibilities The main mission of the Sustainable Development and Corporate Impact Committee is to be at the forefront of driving long-term sustainable value for our members and the business community by encouraging the development of sustainability initiatives and programs and supporting their implementation. The Committee serves as a platform to further support and enhance sustainable business practices. Activities of the Committee fall into the following categories: •    Organizing events such as breakfasts or lunches with sustainability experts•    Lobbying for more sustainable business practices in Azerbaijan and beyond•    Engaging the business community to be proactive in the change towards a more sustainable society •    Conducting capacity-building initiatives such as workshops and seminars with a sustainability focus •    Creating partnership opportunities and synergies among AmCham members Powered by Froala Editor

Human Resources and Labor

The Human Resources Committee meetings are devoted to the exchange of ideas and information related to the development and management of human resources in Azerbaijan. Committee members‘ practical experiences are frequently drawn upon as a basis for presentations and discussions. A new aspect of the committee’s activity is the preparation of commentary on legislation, including the revised Labor Code. The Committee enables AmCham members to share best practices and resources in the field of human resources management.  Its efforts focus on providing essential information to AmCham members and participating Committee members through:Annual National Employee Salary SurveysQuarterly Inflation SurveysResources on the current Azerbaijani labor law legislationTraining Sessions on HR Management (delivered by committee members on voluntarily basis)Best Practices presentations (delivered by committee members)Sharing human resource management expertise with local educational institutionsThe Annual National Employee Salary Survey is presented at a fourth quarter luncheon.Powered by Froala Editor

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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 9 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

Foreign nationals traveling to Azerbaijan required to have a COVID-19 passport

10 June 2021

New Amendments Introduced to the Labor Code

2 June 2021

EKVITA LEGAL UPDATES | MAY

2 June 2021

“Unico” LLC construction company has launched “Smart Young Engineer”- a month-long paid Summer Internship Program for 2021.

27 May 2021

EKVITA Newsletter

16 May 2021

EKVITA Legal Updates | March

30 April 2021

PwC Azerbaijan Times-issue-01-2021

27 April 2021

Compliance management systems — Requirements with guidance for use

27 April 2021

The 2021 edition of Dentons Guide to Investing in renewable energy projects in Europe

2 April 2021

Draft changes to the Tax Code

2 March 2021

Coca-Cola Wins U.S. Secretary of State’s Award for Corporate Excellence for Women’s Economic Empowerment Efforts in Azerbaijan

3 February 2021

TURKISH AIRLINES STUDENT PRIVILIGES

28 January 2021

EY Business Brief

5 June 2020

Deloitte News Update

15 May 2020

Deloitte Tax News

15 May 2020

BHM Legal Update

15 May 2020

PwC Azerbaijan’s COVID-19 Alert Special Edition Issue № 13

27 April 2020

Key support measures available to business

23 April 2020

EY Business Brief

21 April 2020

EY Business Brief

6 April 2020

MBA in Finance

5 February 2020

BHM Legal Updates

17 January 2020

PwC Azerbaijan Times Issue #1

16 January 2020

Company (LLC) registration in Azerbaijan (Innovation in registration of an LLC)

29 December 2019

PwC Azerbaijan Times Issue #12

12 November 2019

Remaining time to start of Postponed: AmCham Tax & Customs Committee’s June Meeting

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Important highlights from AmCham Events
11 June 2021

AmCham Presented Subsequent Publication of its White Paper to the Public

On June 11,2021 American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized a press-conference for publicly presenting subsequent publication of its White Paper on observations and recommendations for improving Azerbaijan’s business climate. Members of AmCham Board of Directors, Committee chairpersons, State Officials, AmCham members and media representatives attended the press-conference.The White Paper is being prepared and presented to Azerbaijan government biannually in the aim of supporting various fields of Azerbaijan’s economy.The document reflects collective view of AmCham members on changes contributing to the strength of business environment and ultimately, the country. It consists of two parts – “Introduction” part covering the issues reflected in the White Paper in general and “Recommendations” part which involves suggestions on more specific issues in detail. The recommendations reflected in previous years’ White Papers were added to state programs and some of the recommendations resulted in corresponding amendments in legislation which positively aspired business environment in Azerbaijan.“AmCham has always been actively cooperating with the government and supporting the implemented measures for improvement of business climate of the country. And we think it is very important to inform the government about vision of private sector and changes in business environment. White Paper 2021 will cover issues to be solved in different fields such as tax, customs, banking, finance, insurance, information and communications technology, procurement, labor, tourism, etc. It is noteworthy that the steps taken by the government to eliminate negative effects of pandemic to country’s economy have been commendable, and it is no coincidence that the measures taken have shown significant positive results. We believe that implementation of the recommendations prepared by AmCham members within the framework of this White Paper will contribute to economic reforms carried out in the country”, - noted Mr. Nuran Kerimov, the President of AmCham.Afterwards, the chairpersons of AmCham’s Committees on Tax and Customs, Human Resources and Labor, Digital Technology and Innovations, Legal and Compliance, Procurement and others spoke in detail about the recommendations of the White Paper in relevant topics. To get familiarized with the White paper, follow the link AmCham White Paper 2021The event was concluded with a Q&A session.AmCham has been operating in Azerbaijan since 1996 and currently consists of 250 companies representing more than 80% of foreign investments in the country. Serving as a bridge between government and private sector and having continuous constructive and result-oriented dialogue with relevant government bodies, Chamber promotes the business interests of its members and contributes to the improvement of the business climate in Azerbaijan.

1 April 2021

AmCham Azerbaijan becomes a UNGC signatory

American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) is pleased to announce that it has become a United Nations Global Compact (UNGC) signatory since March 1, 2021. UNGC is a bold initiative designed to redirect business values towards working for the greater good. Its purpose is to help businesses transform their strategy in order to accommodate for the rising need in the implementation of sustainability practices around the world. With more than 12,700 members based in 160 countries, UNGC promotes ten essential sustainability principles across four domains in order to cultivate a better a world:Human RightsLabor Environment Anti-CorruptionWe commit ourselves to adhere to our recently adopted Sustainability Policy developed based on the UNGC principles and perceive this initiative as a step forward towards its implementation. While we are working on several initiatives to embrace our commitments, we as AmCham Azerbaijan are also ready to support our member companies and other local businesses in this journey towards adopting essential values of responsible governance and become a UNGC signatory. Either it is from the administrative or advisory point of view, we are determined to provide all necessary assistance to local sustainability pioneers to join the ranks of UNGC signatories.We believe, this is a big leap towards strengthening the presence of sustainability practices in Azerbaijan and will significantly contribute to the long-term value creation across all business sectors of the country. Powered by Froala Editor

17 March 2021

AmCham Call for Tenders

American Chamber of Commerce in Azerbaijan announces a Tender for the project “FUNDRAISING WEB PLATFORM INITIATIVE”.About the platform: AmCham Azerbaijan is aiming to facilitate the connection between donors and receivers by creating and managing an independent web platform. In this platform, various entities would share their aspirations to contribute to the betterment of the society by proposing corporate and social responsibility (CSR) projects. Other entities, which are also interested in contributing to their CSR image, may then connect and collaborate with these entities by sharing funds. The web platform will then create an individual CSR portfolio (e.g. company profile) for each participating entity, where all contributions and collaborations will be publicly displayed and available for the users.   In scope of this tender, we intend to work with a creative and capable IT service provider who can develop independent CSR web platform. Vendors should be able to clearly demonstrate their past experiences (e.g. portfolio) or relevant qualifications to gain some edge on the selection process. On the same line with front-end and back-end qualities, the vendor shall have relevant experience in UI/UX design and demonstrate clear understanding of the science behind user and web-based application interactions.  Interested parties can get detailed information on the project and submission of proposals by contacting:Sheyda Rzayeva, e-mail: csrplatform@amchamaz.org The deadline to submit all application documents is 07.05.2021.Powered by Froala Editor

15 March 2021

AmCham Members’ Online March Luncheon

On March 15, 2021 the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its monthly Members’ Online Luncheon.The honorable guest speaker of this month was Mr. Valeh F. Alasgarov, Chairman of the Board of Directors, Alat Free Economic Zone Authority (AFEZA).The meeting was attended by leadership of AmCham Azerbaijan, member companies and representatives of diplomatic corps. President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech and introduced the guest speaker.Mr. Valeh Alasgarov delivered a wide information on Alat Free Economic Zone (AFEZ) project, elaborating on key role of AFEZA in transforming Azerbaijan into a knowledge-based and internationally competitive economy. He also talked about legal basis and framework of AFEZ, emphasizing their distinction from other international models. Furthermore, Mr. Alasgarov defined major types of investors welcomed at AFEZ, physical development of the area, as well as fiscal and non-fiscal incentives that will be available for clients and investors.In conclusion, all the questions and comments of the participants were addressed by Mr. Valeh Alasgarov.At the end of the luncheon, Mr. Nuran Kerimov thanked everyone for participation and highlighted particular importance of the event in terms of sharing experience and discussing prospects for future cooperation between AMCHAM and AFEZA.Powered by Froala Editor

10 March 2021

Online Tax Conference Jointly Organized by American Chamber of Commerce in Azerbaijan and State Tax Service

On March 10, 2021, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized online conference jointly with the State Tax Service (STS) under the Ministry of Economy on “Tax Regulation of the Economy in the Global Pandemic and Post-war Period - Sustainable Economic Growth and a Favorable Investment Climate”.The conference was attended by Acting Head of the State Tax Service Mr. Orkhan Nazarli, other senior officials of STS, leadership of AmCham Azerbaijan and member companies, as well as representatives of diplomatic corps. The event was focused on discussion of issues on tax legislation, improvement of the business climate and transparency, as well as exchange of views on subjects of mutual interest.  Opening the event, the president of AmCham Azerbaijan, Mr. Nuran Karimov expressed his gratitude to the STS leadership for their support in organization of the conference, as well as acknowledged Chamber's constructive dialogue with the relevant governmental bodies. It was noted that AmCham Azerbaijan is interested in development of perfect tax legislation that will improve the business environment in the country. It was also mentioned that as a result of cooperation with the tax authorities, for many years joint tax conferences have been organized, discussions in the field of taxation have been carried out, as well as numerous proposals have been submitted.  Mr. Kerimov also brought to attention that today's event is aimed to discuss the role of the tax system in improvement of the country's investment climate, its direct impact on attracting foreign direct investment and international best practices available in this field, etc.Acting Head of State Tax Service, Mr. Orkhan Nazarli thanked the participants of the conference for their contribution to the development of the Azerbaijani economy. It was noted that the STS attaches great importance to improving tax policy and tax administration, providing new services to taxpayers, holding various discussions with public organizations of entrepreneurs to further improve the business environment. It was also mentioned that before making amendments to the legislation, the opinions of local and foreign business structures operating in the country are taken into account, as well as open and active dialogue with business entities is being conducted. Mr. Nazarli noted that tax conferences held jointly with AmCham Azerbaijan have become a tradition, emphasizing that these meetings play an exceptional role in developing partnerships between tax authorities and business structures and further increasing the level of taxpayers' compliance with tax legislation. He said that the relations between the STS and AmCham Azerbaijan uniting hundreds of foreign and local businesses, are based on the principles of effective partnership. AmCham members are widely represented in various sectors of the national economy. Noting that the topic of this year's tax conference is based on modern challenges, Mr. Nazarli emphasized that the STS is interested in building partnerships with businesses in the process of improving tax legislation in order to create a favorable investment climate that will ensure sustainable economic growth in the country. He also informed the participants about the main directions of tax policy, trends in the field of tax legislation and administration in the upcoming periods.The conference was moderated by AmCham Tax and Customs Committee’s Chairman, Mr. Jeyhun Mammadov. The conference consisted of four panels: “Improvement of the investment climate as the locomotive of the country’s economic development”, “Use of modern technology in tax administration”, “Innovations in tax audits - Legislative Directions, Efficiency and Appeal Opportunities” and “Application of international best practices in the country”. In the first panel, Mr. Rashad Abbasov, a representative of NEQSOL, spoke on "The impact of the tax system on attracting foreign direct investment" and Mr. Nijat Imanov, Head of the Tax Policy Main Department of the STS - on “Future goals for a favorable investment climate”. During the second panel, Ms. Narmin Aslanova, a representative of Deloitte, delivered a presentation on "Global Goals and Directions" and Mr. Fuad Aslanov, Head of the Digital Tax Administration Main Department of the STS - on “Plans of the State Tax Service on Digital Technology”. At the third panel of the conference, EY’s representative, Ms. Arzu Hajiyeva and a representative of KPMG, Mr. Rizvan Gubiyev spoke on “Desk tax audits” and "Practical aspects of tax audits" respectively. The last panel featured presentations by PwC’s representative, Ms. Gunel Sadiyeva on “Useful international practices in the field of business stimulation” and Mr. Orkhan Musayev, Acting Head of the International Taxation and Tax Monitoring Main Department - on “Perspectives and goals in the field of transfer pricing”.At the end of the conference, the parties exchanged views with representatives of business structures on issues of interest and questions of the participants were answered within the active Q&A session. Powered by Froala Editor

4 March 2021

AmCham Annual General Meeting (AGM) 2021

On March 4, 2021 the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) held its Annual General Meeting (AGM).The Executive Director of AmCham Azerbaijan, Mrs. Gulnara Aslanbayli welcomed all AmCham members with an opening speech and announced the agenda of the meeting.President of AmCham Azerbaijan, Mr. Nuran Kerimov delivered a comprehensive presentation on report dedicated to the activities of 2020 of the Chamber. Strategic goals and financial report of AmCham Azerbaijan, as well as the achievements of the last year were highlighted during the presentation. Moreover, Mr. Kerimov announced that as a support to member companies, the AmCham Board of Directors approved membership fee exemption program for the year of 2021 to be applicable to the members operating in the sectors mostly affected by the pandemic. Furthermore, the issue on setting the date of the Board of Directors Elections  was also put into discussion. As a result, by the majority of votes, it was decided to postpone Board of Directors Election to 2022.At the end of the AGM, Mr. Kerimov expressed his gratitude to all AmCham members for their continuous support and fruitful cooperation.Powered by Froala Editor

24 February 2021

AmCham Members' Online February Luncheon

On February 24, 2021, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan)  hosted its monthly Members’ Online Luncheon. The Guest Speaker of this month was Dr. Taleh Ziyadov, Director-General of “Baku International Sea Trade Port” CJSC. Around a hundred AmCham members and partners attended the event, including representatives of diplomatic corps. President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech and introduced the guest speaker.Dr. Taleh Ziyadov started his speech by emphasizing the role of the Glorious Victory of Azerbaijan in expansion of the country’s opportunities in becoming regional transport and logistics hub through opening of the communication lines of the region considered in Agreement signed on November 11, 2020. Referring to the results of 2020, Dr. Taleh Ziyadov said that despite the COVID-19 pandemic, the turnover of the Port of Baku has increased by 20%. In his presentation, he also spoke on the activities of the Baku International Sea Trade Port , including development strategy for the next 2 years, agreements reached with leading logistics hubs and transport companies in Asia and Europe, and innovations in the country’s transport sector.Moreover, Dr. Ziyadov made an announcement of the upcoming Trade Mission Program to Belgium, jointly organized by Baku International Sea Trade Port (Port of Baku), Antwerp International Port together with APEC Antwerp & Flanders International Training Center, and AmCham Azerbaijan as an information partner. The Trade Mission Program will include trainings on topics such as environmental and occupational safety, improvement of trade and operational processes, as well as innovation and digitalization. It was also noted that the participants will be able to get acquainted with the activities of the Antwerp and North Seaports, the international logistics center and the customs service of the region for 5 days. Afterwards, he invited AMCHAM members to participate in the Trade Mission Program.In conclusion, all the questions and comments of the participants were addressed by Dr. Taleh Ziyadov.At the end of the luncheon, Mr. Nuran Kerimov thanked everyone for participation.Powered by Froala Editor

29 January 2021

Online AmCham Members Luncheon

On January 29, 2021 the first Online Luncheon of AmCham Members on “Organization of Digital Employment” was held. The guest speaker of the meeting was Mr. Mustafa Abbasbeyli, Chairman of the Board of the State Employment Agency of the Ministry of Labor and Social Protection of Population.President of AmCham Azerbaijan, Mr. Nuran Karimov welcomed the participants with an opening speech. The significance of such events for the exchange of views on the cooperation opportunities between government and business representatives was noted during his speech. Mr. Mustafa Abbasbeyli delivered a wide presentation on “Organization of Digital Employment” comprehending relevant issues and topics in its implementation.   Moreover, Mr. Farid Valiyev, Deputy Chairman of the Management Board, Mr. Emil Huseynov, Head of Human Resources Department of the Ministry of Labor and Social Protection of Population, Mr. Orkhan Rasulov, Head of Digital Employment Department of the Ministry of Labor and Social Protection of Population, Ms. Fatima Alakbarova, Deputy Head of Baku City Employment Center and Ms. Asmar Bayramova, Employee of the Strategic Communications Department were also guests of the luncheon. At the end, all questions of member participants were addressed by Mr. Mustafa Abbasbeyli and other senior representatives of the ministry. Powered by Froala Editor

8 January 2021

Online meeting was held between leadership of AmCham Azerbaijan and the Ministry of Labor and Social Protection of Population

On January 8th, online meeting was held between the leadership of the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) and the Ministry of Labor and Social Protection of Population of the Republic of Azerbaijan on social support for the families of martyrs and war-wounded, as well as potential cooperation in this area.President of AmCham Azerbaijan, Nuran Kerimov welcomed the participants with an opening speech. He stressed the significance of such events in continuation of a dialogue between the public and private sector. Mr. Kerimov noted that AmCham Azerbaijan, as part of its corporate social responsibility policy, pays special attention to improvement of social security of the families of martyrs and war-wounded. He also said that the member companies of the Chamber have been constantly making contribution in this direction.Deputy Minister of Labor and Social Protection of Population, Anar Karimov noted that such event has been a beneficial platform for the exchange of views on the cooperation opportunities between government and business representatives. He also briefed the participants on the projects currently being implemented by the Ministry in this direction and the measures taken to improve the social security of the families of martyrs and war-wounded. Mr. Karimov noted that this initiative of AmCham Azerbaijan is highly commendable and the Ministry is ready to continue cooperation with the Chamber.Chairman of the Board of the State Employment Agency Mustafa Abbasbayli, Chairman of the Board of the DOST Agency Farid Mammadov and other senior officials of the Ministry also made speeches at the meeting. During the meeting, questions and recommendations also were expressed by the representatives of the Chamber. At the end, the parties agreed to hold joint events on providing social support to the families of martyrs and war-wounded, as well as ensuring their employment.AmCham Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, the Chamber is composed of over 260 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.Powered by Froala Editor

15 December 2020

AmCham Azerbaijan pledges support to Government of the Azerbaijan Republic

The American Chamber of Commerce in Azerbaijan (“AmCham Azerbaijan”) pledges its full Support to the Government of Azerbaijan (“Government”) in post-war recovery period.As a largest business association in Azerbaijan uniting 260 members we stand ready to support the Government’s efforts in rehabilitation and development of the liberated territories and are willing to make our contribution. We will be working closely with the Government, wide local and foreign business community as well as other interested parties on finding and implementing sustainable policy and implementation solutions to this most important goal of our country. AmCham Azerbaijan also strongly welcomes the establishment of “YASHAT” Fund by the President Ilham Aliyev  and is ready to provide all necessary assistance and support to it. The Chamber pays tribute to all heroes who sacrificed their lives and health for the country and calls on all its members to show necessary moral and financial support to the impacted families.Powered by Froala Editor