KNOW US BETTER
Welcome to AmCham Azerbaijan
EXPAND YOUR BUSINESS!
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
Tax & Customs
The Tax and Customs Committee proactively addresses both existing and new tax and customs issues by maintaining a dialog with the State Tax Service, Ministry of Finance and State Customs Committee and promotes change in the tax and customs system through consistent interpretation and application of existing regulations.The committee is doing this job in several ways: by engaging its members in various legislative initiatives aimed at improving the business climate, sharing experiences across the member base on challenging tax and customs issues and establishing dialog between the business community and the governmental bodies and ministries.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.
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.
Higher Personality Reviews
Every feedback on the Chamber is a boost to our improvement
Speech of Heydar Aliyev, the President of the Republic of Azerbaijan at the opening ceremony of the American Chamber of Commerce in Azerbaijan – “Hyatt Regency Nakhchivan” Ho ...
Read More
National Leader of the Republic of Azerbaijan
As I know, part of the recently implemented reforms were developed on the basis of AmCham ideas, I would like to thank you for that.
The President of the Republic of Azerbaijan
“There are the many important contributions this Chamber has made, including through its White Papers, to improving the business climate in Azerbaijan, to fostering dialogue betw ...
Read More
Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
“AmCham plays an immense role in improving the country’s business environment."
Deputy Assistant Secretary of State for European and Eurasian Affairs
Remarks for the AmCham by Ambassador Lee Litzenberger
Read More
Ambassador of the United States of America to the Republic of Azerbaijan (2019-2022)
National Leader of the Republic of Azerbaijan
Ladies and Gentlemen!
Dear guests!
I cordially greet you all and say you “Welcome to Azerbaijan.” The organized start of work of American Chamber of Commerce is a distinguished event in the history of US- Azerbaijan relationships.
After gaining of independence, the Republic of Azerbaijan tries to establish economic cooperation with all countries of the world and the United State of America occupies a special place amongst them. US-Azerbaijan cooperation was successfully developing in the course of the last years. I highly appreciate it and we will do our best for the further development of these relationships. This cooperation perfectly fits the strategic policy of the independent Republic of Azerbaijan in the economic sphere.
After gaining independence Azerbaijan has chosen the way of the democratic, legal and civilized state building, carrying out of reforms in the economy of the republic and principles of relating its economy to the world economy. We think that for the development of social-economic situation of the Republic we must cooperate closely with foreign countries and all companies of the world and have joint business in the economic sphere between Azerbaijan and other countries, companies. These are main works carried out in the sphere of development of Azerbaijani economy on the basis of market economy and attraction of foreign investment to our Republic on the permanent basis.
As you know, Azerbaijan has abundant natural resources. Our country has a big industrial, agricultural potential. From the viewpoint of its geographical location, our Republic has big possibilities for the economic cooperation with World Community. The world experience has proved repeatedly that no country, even the biggest one is able to develop its economy within its boundaries up to the required level. Integration of world economy, the mutual cooperation in the economic field of the countries each with other is beneficial for every country and in general it is the only way of development of the world economy.
After gaining state independence we took for the main principle this experience and made efforts for constant attraction of foreign investment to Azerbaijan and joining of the economy of our republic to the world economy, we will undertake these efforts in the future as well. The results achieved in the field of joint business between Azerbaijan and the US companies within the last years are vivid example of that.
It is well known that one of the factors and the main one of attraction of the US and other companies to Azerbaijan is oil and gas fields of our country. The existence of abundant oil and gas fields at the territory of the Republic of Azerbaijan and Azerbaijani sector of the Caspian Sea is well known all over the world. Azerbaijan is an ancient and great oil country. The achievements of our republic in this field are known world-wide. Now we are living a new stage, a new period of the oil and gas industry of Azerbaijan. This stage is related to joint exploration of these oil and gas fields of Azerbaijan with great oil companies of the world.
As you know we signed the first large contract two years ago – in September, 1994. This contract is known in the world history as the “Contract of Century.” This contract was signed between State Oil Company of Azerbaijan Republic and the Consortium of foreign oil companies. The US companies take more numerous in this Consortium. It is with a great sense of pleasure that I want to say that the results of these contracts in the course of the passed two years were positive and the programs envisaged in contract are being implemented consecutively. If some people had doubts and others wanted to see the positive results of this contract when we were going to sign it, now these results turned into reality. And those, who had doubts, should give them up.
As you know, two other large oil contracts were signed afterwards. The US companies participated at the contract signed a year ago. Tomorrow a new oil contract is to be signed and the main parties of the contract are still the US oil companies.
These contracts and their practical implementation provided coming of both the US and many other companies to Azerbaijan. I am pleased to say that offices of not only the US oil companies, but those dealing with other spheres are opened in Azerbaijan. All this is perfect results of the US-Azerbaijan economic cooperation and the big potential achieved by us.
The importance of this potential is that all these works will give more perfect results in the future. Therefore, I think that opening of the US Chamber of Commerce in Azerbaijan and inauguration of its office is very remarkable today and will serve for the new stage in the future. We did our best up to present to encourage not only the US companies but every individual, representing the United States who comes to Azerbaijan and want to make business here. However, now, after establishment of the US Chamber of Commerce and starting of its organized activity, we will do our work with more success.
I know that the US Chamber of Commerce is established in Azerbaijan to regulate, support, guide and make prognostication for all the US companies and businessmen in Azerbaijan. I welcome this initiative and highly appreciate it. I think that the Chamber of Commerce will work here freely and successfully.
You may be confident that the support on the level of Azerbaijani state, government and all state bodies will be rendered to the Chamber of Commerce of the United States in order to ensure its successful activity. This is of the same importance both for you and for us. We are very interested in it. Because, as I have mentioned earlier, we want more US companies to come to Azerbaijan.
We are carrying out economic reforms and privatization process on the basis of principles of market economy, of course, we are going on this way and we will go in the future. Both you and all Azerbaijani society see the positive results of the implemented economic reforms and privatization process in the last period. The offices of foreign companies, their joint-ventures, private enterprises, large and beautiful shops has changed the image of Azerbaijan, especially that of Baku. All this pleases us.
Today I want to state that we are consecutively adhering the way of economic reforms and we will adhere this way in the future too. We are promptly implementing the privatization process and take serious measures in this sphere. For example, I have liquidated the State Agency of Grain Products two days ago and submitted all enterprises and bodies of this Agency to the State Property Committee for privatization.
This is a measure taken not for privatization of separate enterprises, but an entire state structure. Perhaps, this is an ordinary case for our guests that came from the United States of America. However, it is not at all an ordinary case for us. Because, you must know that adoption of a decision for liquidation and privatization of large state bodies that have been under aegis of the government for a long time requires courage and we implement it with courage. We need foreign investments and cooperation with the US companies for implementation of these measures.
The US companies should try to participate at the privatization process underway in Azerbaijan and take their own place in the implementation of market economy in the economic life of our country. I invite you to this.
I declare for you and all our partners from the United States of America that the state ad president of the Republic of Azerbaijan will steadfastly develop the economy of our country on the basis of market economy, implementation of economic reforms and privatization. Therefore, I always say to foreign companies, including American companies to not be late. The sooner you come to Azerbaijan the better place you will have here.
You must know that a favorable social and political situation is established in Azerbaijan for establishing a successful business here. We have adopted some very favorable laws for attraction of foreign investments to Azerbaijan. We are going to adopt such laws in the future too. If there is an annoying factor in any sphere for doing this work we will eliminate it. If any part of any law inhibit the successful implementation of our work, we will amend these laws and adopt new ones. You can be sure in it.
In order to do all this work we are closely cooperating with International Monetary Fund, World Bank and European Union. I would like to say that I am very pleased with this cooperation and I think that this cooperation is a perfect mean for implementation of economic reforms in Azerbaijan and strengthening of the economy of our country.
I would like to say once again that I am very pleased with our today`s meeting. I wish successes to all of you and all companies and businessmen of the United States of America. I hope that on the basis of results achieved up to now, the US-Azerbaijan economic cooperation will develop more quickly.
In previous meetings with the President of the United States of America, Mr. Bill Clinton, as well as meetings and negotiation held with vice-president Albert Gore held a few days ago in Lisbon, we discussed development of the US-Azerbaijan relationships in all spheres and we were of the same opinion. I openly stated the position of Azerbaijan in this sphere.
I highly appreciate the friendship and cooperation established with state bodies of the United State of America, as well as between the US and Azerbaijani Presidents, and I assure you that Azerbaijan will always remain faithful to these relationships of friendship and cooperation.
I cordially congratulate you once again on the occasion of opening ceremony of American Chamber of Commerce in Azerbaijan. I wish you all successes, happiness and health.
Thank you.
Powered by Froala Editor
Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
Powered by Froala Editor
Ambassador of the United States of America to the Republic of Azerbaijan (2019-2022)
AmCham has long been a key partner of the U.S. Embassy, serving as the voice of the business community and working to advance our shared vision of a prosperous, stable, and globally-integrated Azerbaijan. It’s an honor for me to speak to you all today.
As you probably know, I arrived in Baku just three weeks ago. Although I’m still quite new to the country, I can’t help but feel optimistic about the opportunities ahead. On my second day at work, I presented my credentials to President Aliyev and we had a warm and open discussion on the strength of U.S-Azerbaijan relations and the ways in which we can advance them even further.
Since then, I’ve met with many government officials, civil society members, and business leaders. I’ve also gotten to know the dedicated team of Americans and Azerbaijanis working at the U.S. Embassy.
All of this has shown me that our bilateral relationship is based on a solid foundation and benefits from the dedication of people in both our countries who are committed to strengthening it. I would like to take a brief moment to recognize one of those people, whom you all certainly know well.
Deputy Chief of Mission William Gill has done an excellent job as Chargé d’Affaires at the U.S. Embassy this past year, as well as a member of the AmCham Board since 2016. Thank you very much, Will, for your tireless dedication to improving the ties between the United States and to Azerbaijan.
Will’s work is just one example of the United States’ decades-long engagement in Azerbaijan. In addition, I am also excited that Will encouraged and supported USAID’s Mission Director Jay Singh to engage with AmCham as a key partner in his forward-leaning private sector strategy. Let me recognize Jay for his role in deepening this engagement.
The United States has been here since the beginning; we have stood shoulder to shoulder with the Azerbaijani people for 27 years to help you maintain your independence and sovereignty, expand and diversify your economy, and develop democratically.
Since 1992, the U.S. government has provided over $1.3 billion in assistance through programs supporting humanitarian relief, economic development, the rule of law, and much more.
Over 6,000 Azerbaijanis have traveled to the United States on U.S.-government sponsored exchange programs. These alumni now occupy leading positions in your government, civil society, the private sector, and, of course, AmCham.
These programs are born from our belief that a stable and prosperous Azerbaijan is essential for advancing our common goals of stability and prosperity throughout the region and across the globe. We believe your success and our success are mutually reinforcing.
And I believe that everyone in this room has an important role to play in achieving that success. A dynamic and engaged business community in a vibrant and open private sector is the only way to compete effectively in the global economy.
Although much work remains to be done, there is a great deal to be proud of.
One area of unquestioned economic success for Azerbaijan has been in the energy sector. Caspian energy resources have not only enriched Azerbaijan, but also helped it play an important role in Europe.
The Southern Gas Corridor is not only an important project for Azerbaijan, it is also a key component to guaranteeing the political and energy security of Europe. Just as the United States played a critical role in supporting the Baku-Tbilisi-Ceyhan pipeline in the late 1990s, we will continue to support the Azerbaijani government and its private sector partners to ensure the completion of the Southern Gas Corridor.
However, Azerbaijan’s leadership has recognized that even though oil and gas are important, the Azerbaijani economy needs to diversify away from its dependence on hydrocarbons.
We support the government’s stated goal to have multiple, sustainable sources of revenue; new opportunities for investment; and a creative, innovative cadre of entrepreneurs working in an open economy to boost economic growth and prosperity. The U.S. can play an important role in this effort.
In support of these economic diversification efforts, the United States Agency for International Development – USAID – has invested resources and technical expertise in Azerbaijan’s farmers to accelerate agricultural sector growth. USAID has also invested in youth and women to promote small business development and increase economic participation.
Next week, USAID is also sponsoring the first ever Illinois-Azerbaijan Agricultural Forum in Chicago, facilitating linkages and investment opportunities between American and Azerbaijani companies to further advance the sector.
This forum will be attended by the Minister of Agriculture and senior members of the Azerbaijani government. AmCham’s support of the Forum has been instrumental. We hope that this collaboration between USAID and AmCham will result in future events such as this and further the economic relationship between our countries, and the partnership between USAID and AmCham.
We are encouraged by the significant steps the government has taken to reform the State Customs Committee, the tax system, and the delivery of government services through the ASAN service centers. These reforms send an important signal that Azerbaijan is interested in creating a welcoming and attractive investment climate.
AmCham has played an important part in this process. Your biennial White Paper has proven to be an excellent way for the business community to have an open dialogue with the government. That conversation has been fruitful, and I believe it will continue to be so in the future. And you can count on the continued support of the U.S. Embassy for AmCham.
These positive steps, however, are just the first in a journey that must continue.
The global economy is large, and it is very competitive. Every country in the world is fighting to attract foreign investment and to develop industries that create jobs and exports.
When making investment decisions, U.S. companies compare Azerbaijan with other potential destinations. They look at the size, health, and transparency of the domestic market. They look at the quality of the labor pool. They look at the regulatory and tax regimes. And they look at the predictability of the legal environment.
Ultimately, U.S. companies want to invest in markets in which they can compete on a level playing field and know that their investments will be protected by the rule of law.
One case in point is the protection of intellectual property rights. When it comes to attracting foreign investment, countries that have strong intellectual property right protections have an immediate advantage over those which do not.
At a fundamental level, foreign investors want to know that they will receive a fair price for the goods and services they sell and that their innovations are protected.
Another issue is Azerbaijan’s lack of integration into the global trading system. Opening your market brings with it benefits that far outweigh the challenges of integrating with the global economy.
We support a clear and sustained effort by Azerbaijan to accede to the World Trade Organization as one of the best ways to realize the goals of economic diversification and attracting foreign investment.
U.S. companies also want to work in truly free and transparent markets. Economies that are dominated by a handful of individuals or entities will struggle to attract foreign investment and produce the entrepreneurs that make any economy truly dynamic.
Most importantly, U.S. companies want to work in environments that respect and celebrate the rule of law. Azerbaijan has made remarkable progress in adopting reforms in recent years, as demonstrated by its improvement in the World Bank’s “Doing Business” Report.
Ensuring that these reforms are properly applied requires predictability and transparency in the way an independent judiciary reaches decisions and government agencies implement regulations.
I see great potential for deepening economic ties between Azerbaijan and the United States, and indeed the rest of the world. From my initial discussions with Azerbaijani officials and business leaders, I know I am not alone in this optimism.
The U.S. Embassy will remain a committed partner in strengthening those ties through our assistance, our advocacy, and our people-to-people exchanges. Of course, while we will continue to do our part, much of the work falls on those in this room.
A healthy private sector is the foundation of a healthy economy. As the premier business organization in Azerbaijan, AmCham is in a better position than anyone else to innovate, promote job creation, build business ties, and advocate for additional necessary reforms to strengthen Azerbaijan’s competitiveness to attract new investments.
You understand the power of people, of creativity, of adaptation, and growth. You understand the power of private enterprise when given the freedom to compete in a fair, transparent, and predictable environment.
I look forward to working with the AmCham Board of Directors, the Executive Director and her capable staff, and the entire AmCham membership to deepen ties between our two countries and promote prosperity in Azerbaijan.
Thank you for having me today and thank you for welcoming me so warmly to your country.
Powered by Froala Editor
MEMBERSHIP TYPES
There are two types of AmCham affiliation: MEMBERS and ASSOCIATES with annual fees applied
Learn more
Immediately stay up to date with every members news updates
“CEHİZ” LAYİHƏSİ": DIALOGUE BETWEEN GENERATIONS AND STUDYING DOWRY CULTURE IN AZERBAIJAN
22 September 2023
Open PDF
VOLVO: For Life
20 September 2023
Open PDF
Hospitality Law in Azerbaijan
20 September 2023
Open PDF
5000 AZN gift for teachers and their family members at Greenville Residence!
20 September 2023
Open PDF
12.5 thousand IMEI codes connected to the network with more than 1.3 million numbers were assigned the “clone” status
19 September 2023
Open PDF
International Astronautical Congress in Baku brings excitement and business opportunities
11 September 2023
Open PDF
SEPTEMBER HAPPENINGS AT FS HOTEL BAKU
11 September 2023
Open PDF
Log in the electronic cabinet on E-taxes.gov.az using SİMA Token!
11 September 2023
Open PDF
74th International Astronautical Congress
5 September 2023
Open PDF
SEPTEMBER HAPENINGS AT FOUR SEASONS HOTEL BAKU
4 September 2023
Open PDF
Motorcycle Festival at Shahdag Mountain Resort
24 August 2023
Open PDF
Founding partner of Legalize Law Firm becomes a Fellow of the Chartered Institute of Arbitrators
18 August 2023
Open PDF
Deadline for Sponsorship and Exhibition Application at the 74th International Astronautical Congress extended
18 August 2023
Open PDF
Amelioration and Water Farm partially transferred its informatıon systems to the Government Cloud
17 August 2023
Open PDF
ROOF Academic Training yeni TOP TALKS layihəsi ilə qarşınızdadır
15 August 2023
Open PDF
Opening new bank accounts has become easier with SİMA
15 August 2023
Open PDF
Veyseloglu Group of Companies Announces its Monthly Retail Price Index
8 August 2023
Open PDF
Never Ending Summer Happenings at Four Seasons Hotel Baku
7 August 2023
Open PDF
Legal Updates presented by BAKER TILLY
4 August 2023
Open PDF
Digitalization on Boards 5th Edition by Amrop
2 August 2023
Open PDF
Enhance Your Career in Auditing: Enroll in EKVITA Academy's Training Program
31 July 2023
Open PDF
Destination Fabulous Summer Happenings at Four Seasons Hotel Baku
31 July 2023
Open PDF
Limited Time Offer by PASHA Property Management for AMCHAM Members at Knightsbridge Residence
26 July 2023
Open PDF
EKVITA CONDUCTS ANTI-BRIBERY COMPLIANCE TRAINING FOR PRIVATE AND PUBLIC SECTOR ORGANIZATIONS.
11 July 2023
Open PDF
Exclusive Offer for AmCham Members: 5% Discount on Greenville Premium Residence Apartment Purchases
6 July 2023
Open PDF
Tax and Legal newsletter presented by BAKER TILLY
6 July 2023
Open PDF
5 tools to increase corporate sales with Cubics BMS
25 June 2023
Open PDF
Tax and Accounting Bulletin 2023
23 May 2023
Open PDF
Latest changes to legislation in April 2023
4 May 2023
Open PDF
Trade in your premium car to Volvo and get a special discount of 2 000 AZN
1 May 2023
Open PDF
SPRING HAPPENINGS AT FS HOTEL BAKU
1 May 2023
Open PDF
Four Seasons Hotel Baku Spring Happenings
3 April 2023
Open PDF
Four Seasons Hotel Baku February Happenings
13 February 2023
Open PDF
FOUR SEASONS HOTEL BAKU FEBRUARY HAPPENINGS
6 February 2023
Open PDF
“Nar” continues vocational training for special people in 2023
24 January 2023
Open PDF
Important highlights from AmCham Events
AmCham Members’ September Luncheon
On September 28, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its Members’ September Luncheon with honourable guest speakers Mr. Samaddin Asadov, Chairman of the Board of Azercosmos, Space Agency of the Republic of Azerbaijan and Dr. Christian Feichtinger, Executive Director of International Astronautical Federation.Opening the luncheon, Member Relations Officer of AmCham Azerbaijan, Ms. Sheyda Mustafabayli welcomed the participants and briefed on the upcoming projects and events of the Chamber.Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, began by requesting everyone to commemorate dear memory of the martyrs, who sacrificed their lives for Azerbaijan's territorial integrity. Thereafter, Ms. President extended a warm and gracious welcome to the distinguished guest speakers at the Luncheon, expressing her heartfelt appreciation for their valuable collaboration. She extended her sincere congratulations on the occasion of hosting the 74th International Astronautical Congress, set to unfold from October 2nd to 4th, 2023, right here in the beautiful city of Baku, Azerbaijan. Ms. Nasrullayeva-Muduroglu conveyed her best wishes for the success of this prestigious event, extending her regards to both organizers and participants alike. She underlined the Chamber's immense pride in its close collaboration with the Congress, which includes a series of engaging social and networking events featuring international speakers representing esteemed global companies participating in IAC 2023.Mr. Samaddin Asadov extended a warm welcome to all event participants and expressed his heartfelt gratitude to the Chamber for providing an invaluable platform for engaging in productive discussions with the business community. The Chairman took immense pride in the momentous occasion of once again hosting the global space community in Baku, exactly half a century after the city's remarkable feat of hosting the 24th International Astronautical Congress, making it the first and only city in the region to achieve such an honor. Ms. Asadov underscored the historic significance of this event for Azerbaijan, emphasizing its role as a cornerstone in the nation's mission to cultivate a robust regional space ecosystem and solidify its standing as a burgeoning spacefaring nation. Furthermore, the Chairman highlighted the anticipation of hosting 4,000 participants from over 100 countries in Baku for IAC 2023, characterizing it as a unique opportunity for attendees to not only delve into the latest advancements in space but also to immerse themselves in the renowned Azerbaijani hospitality and rich cultural heritage.In his address, Mr. Feichtinger provided a comprehensive overview of the rich history and dynamic activities of the International Astronautical Federation (IAF), shedding light on its past achievements and future endeavors. Delving into the exciting prospects that lie ahead, he highlighted the significance of hosting IAC 2023 in the vibrant city of Baku, emphasizing how this gathering of global space leaders promises to be yet another milestone in the Federation's journey. Mr. Feichtinger passionately spoke about the successful collaborative initiatives undertaken with the IAF, including recent standout events such as The Global Space Conference on Climate Change 2023, the International Astronautical Congress 2022 in Paris, and the Global Conference on Space for Emerging Countries 2022, underscoring the Federation's commitment to fostering international cooperation and innovation in the field of space exploration.The event proceeded with member companies giving presentations about their portfolios and activities. Mr. Emil Imamov, celebrating CJ ICM's 20th anniversary, led the first presentation, followed by Mr. Farrukh Farajullayev, CCO of AzIntelecom, delivering the second presentation.Around 150 people participated in the luncheon including high-ranking government officials, representatives of diplomatic corps, and senior executives from business community and member companies.
New appointment for Construction Working Group
AmCham Azerbaijan is pleased to announce the new appointment of Mr. Farid Safguliyev, as a Deputy Chairperson of the Construction Working Group. Please note that those who would like to become a member of the working group and have suggestions regarding potential discussion topics, can reach out to us at chamber@amchamaz.org. Mr. Farid Safguliyev is the Founder and CEO of FARCHITECTS Group, which includes BRG Construction and FARCHITECTS Hospitality. FARCHITECTS collaborates with both national and international clients, in and out of Azerbaijan, and provides a full spectrum of services including design, construction, fit-out, decoration and furniture to assets ranging from private residences and offices to luxury restaurants and five-star hotels. Prior to establishing his own business, Mr. Safguliyev spent twelve years in various construction and design-related roles. His most recent position was that of Construction Manager in one of the leading companies in the region – PASHA Construction. In this role, he successfully managed international projects – including the redesign of the "Shirvan" Restaurant in Paris and the creation of the "Jardin D’Azerbaijan" (Park of Azerbaijan) in Evian – as well as the design and outfitting for iconic restaurants and primary business estates in Baku.Mr. Safguliyev has a bachelor’s degree in architecture and construction. He is married and has a daughter.We extend our best wishes to Mr. Safguliyev as he embarks on his new role, hoping for his success and fulfillment in it.
AmCham Azerbaijan's Back-to-Business Cocktail Reception launches the New Business Season
On September 18, 2023, the American Chamber of Commerce in Azerbaijan, welcomed over 200 members of its community for its annual Back-to-Business Cocktail Reception. Held as the summer holiday season came to a close, the event marked the start of a vibrant new business chapter filled with new opportunities and events. Ms. Gulnara Aslanbayli, Executive Director of AmCham Azerbaijan, and Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, extended a warm welcome to attendees, expressing their pleasure at reconnecting after the summer break and offering best wishes for a prosperous year ahead.Then, Mr. Hugo Guevara, Deputy Chief of Mission of U.S. Embassy in Baku, noted the United States' commitment to being a partner in promoting economic diversification and maintaining stability and prosperity in Azerbaijan. He emphasized the Embassy's ongoing collaboration with the American Chamber of Commerce in Azerbaijan to create opportunities for U.S. businesses.Ilgar Mehti, AmCham First Vice-President and Director of Ekvita, extended his warmest welcome to all the guests and pointed out the long-term fruitful cooperation between Ekvita and AmCham Azerbaijan, expressing the willingness to commit to this partnership for the years ahead. He also emphasized that Ekvita known for its remarkable achievements in the industry is joyously celebrating 15th anniversary this year. Then, Mr. Irakli Gabriadze, General Manager of Procter and Gamble, noted the celebration of the company's 25th anniversary this year. He shared insights into the company's history and its longstanding cooperation with the Chamber.The evening featured delectable cuisine, lively music, and ample networking opportunities, fostering connections among the AmCham community.The event was held with the generous sponsorship of Ekvita and Procter&Gamble.
A meeting between AmCham Human Resources & Labor Committee and Ministry of Labor and Social Protection of the Population of Azerbaijan was held
On August 8, 2023, the Human Resources and Labor Committee of the American Chamber of Commerce in Azerbaijan had a meeting with representatives of Ministry of Labor and Social Protection of the Population of Azerbaijan. The discussions focused on recent social reforms and accomplishments within the country, highlighting the strides made in this regard.The meeting delved into the steps taken to enhance labor legislation in response to contemporary challenges and the evolving demands of the labor market. Presentations were given on the recent modifications in labor legislation. Notably, the significance of the "Labor and Employment" subsystem was underscored, with a particular emphasis on the pivotal role anticipated from the newly established Labor Protection Center in furnishing methodological assistance to employers.The representatives of the Ministry's Labor Policy Department and the State Labor Inspection Service, alongside representatives from the Committee, engaged in a fruitful exchange of viewpoints. This dialogue extended to matters related to the practical implementation of the Labor Code, providing an opportunity for the Committee members to share their perspectives and recommendations.
AmCham CEO Cocktail Reception on Celebration of US Independence Day
On July 13, 2023, AmCham Azerbaijan organized CEO Cocktail Reception on Celebration of US Independence Day. In keeping with its tradition, the Cocktail brought together CEOs and Partners of AmCham member companies, ambassadors, AmCham committee chairpersons and different government officials. Executive Director of AmCham Azerbaijan Ms. Gulnara Aslanbayli officially opened the event by greeting the guests and giving a brief foreword of the event. During her speech, she especially emphasized the valuable contributions of the sponsors to the reception and appreciated their support on behalf of the Chamber. The speech of Ms. Aslanbayli was followed by Azerbaijan and U.S. National Anthems. Taking the floor, President of AmCham Azerbaijan Ms. Nargiz Nasrullayeva-Muduroglu welcomed the event participants and sent her sincere congratulations to all US citizens on the occasion of Independence Day. Ms. President also touched upon the commitment of the Chamber to its main strategic goals on improving the business environment in Azerbaijan, promoting the interests of foreign and local businesses, and playing a significant role in the communication between public and private sectors. She also highlighted the importance of the cooperation between AmCham Azerbaijan and US Embassy in Baku in achieving these goals. Afterwards, the floor was passed to Mr. Andrew Berdy, Acting Deputy Chief of Mission at US Embassy in Baku to share the celebration of this special occasion with the guests. Pointing out the significance and noteworthiness of Independence Day in the history of US, Mr. Berdy once again congratulated his compatriots from the bottom of his heart. During his speech, he highlighted the long-lasting and fruitful relationship covering various areas between Azerbaijan and United States as well. Furthermore, Mr. Berdy also mentioned the close cooperation between the Embassy and the Chamber on promoting the business interests of both countries. The Cocktail Reception continued with several show programs, live music band performance and DJ show. Additionally, the reception also featured a particular Raffle Show where the guests got an opportunity to win exclusive prizes offered by AmCham member companies. The most memorable part of the event was cate cutting ceremony with a spectacular firework show by the President Ms. Nargiz Nasrullayeva-Muduroglu and Mr. Andrew Berdy from US Embassy to celebrate this remarkable day. The event was held with the generous contribution and support of Gold Sponsor - BP, Silver Sponsor – The Landmark, Bronze Sponsors - Coca-Cola, Carlsberg, Jumanji and Hillside, and Other sponsors – Highlight Events, Bloom Group, PMD Hospitality, JW Marriott Absheron Baku, Four Seasons Hotel Baku, Hilton Hotel, Hyatt Regency Baku, RESM Jewelry, Holiday Inn Baku, Office Systems, Fairmont Baku Flame Towers, and Kapital Bank.
AmCham Members’ July Luncheon with Minister Teymur Musayev
On July 5, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its Members' July Luncheon with honorable guest speaker Mr. Teymur Musayev, Minister of Healthcare of the Republic of Azerbaijan.The event commenced with a warm welcome from Ms. Gulnara Aslanbayli, the Executive Director of AmCham Azerbaijan. Ms. Aslanbayli announced the Chamber's new members and provided updates on upcoming plans and events.Ms. Nargiz Nasrullayeva-Muduroglu, the President of AmCham Azerbaijan, introduced Mr. Teymur Musayev as the distinguished guest speaker. Ms. Nasrullayeva emphasized the significance of healthcare in everyone's lives, stating that it concerns every individual. She expressed confidence in Mr. Musayev's capability to lead the healthcare sector and highlighted AmCham's commitment to supporting the Ministry through its various committees and working groups.During his address, Mr. Musayev highlighted the extensive reforms that have taken place in Azerbaijan's public healthcare system in recent years. These reforms have been based on modern principles, incorporating innovative technologies and progressive management resources. He outlined the three main principles underpinning successful healthcare reforms: the development of human capital, digitization of healthcare, and the new economics of the healthcare system and its financing.The Minister emphasized the country's transition to a comprehensive digital healthcare platform, leveraging modern information and communication technologies to enhance accessibility, strengthen the human factor, and streamline citizen-official communication in public services.Mr. Musayev also mentioned purposeful and sustainable projects aimed at fostering a modern mindset and international practices among medical professionals, facilitating successful exchanges in the healthcare field, and promoting inclusive development in medical education and science.Following his speech, Minister Musayev participated in an open and interactive Q&A session, where he addressed all questions from the audience.Thereafter, member presentations on portfolio and activity direction of the company were delivered by “DersEvi”.The event concluded with closing remarks from Ms. Gulnara Aslanbayli, expressing gratitude to all participants for their attendance and engagement.
AmCham Executive Director Ms. Gulnara Aslanbayli participated in the ACE Annual Conference 2023
On May 8-12, 2023, Executive Director of American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) Ms. Gulnara Aslanbayli together with the executive delegation of AmChams in Europe (ACE) actively participated in the ACE Annual Conference 2023. The primary objective of this influential event was to highlight the significance of transatlantic relations, foster stronger relationships among international counterparts, and obtain important insights into the economic and political landscape of the United States.This year's conference held exceptional significance as ACE celebrated its remarkable 60th anniversary. To commemorate this historic milestone, ACE Executive Directors embarked on a comprehensive journey to Washington and Houston from May 8th to May 12th, 2023. During their visit, they had the privilege to engage with prestigious government institutions, agencies, and administrations, amplifying the collaborative efforts between business and the public sector. The delegation was honored to visit esteemed establishments, including the U.S. Chamber of Commerce, the Department of Commerce and State, and the Export-Import Bank (EXIM Bank), where discussions on crucial policy matters took place.Furthermore, the ACE Executive Directors were granted an exceptional opportunity to explore the NASA Space Center, witnessing firsthand the cutting-edge advancements in space exploration, and even had the privilege to interact with senior leaders from some of the largest U.S. firms. These engaging meetings provided a platform for sharing ideas, discussing future collaborations, and strengthening bilateral relationships.Within the framework of this highly productive visit, key policy matters were thoroughly discussed with leading stakeholders, resulting in valuable insights and recommendations to further enhance transatlantic cooperation and address emerging challenges in the global economic landscape. The ACE Annual Conference 2023 served as a cornerstone event in fostering international ties, promoting economic growth, and advancing mutual understanding among participating countries.
AmCham Members’ May Luncheon with the Governor of CBAR, Mr. Taleh Kazimov
On May 11, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its Members’ May Luncheon with honourable guest speaker Mr. Taleh Kazimov, the Governor of the Central Bank of the Republic of Azerbaijan (CBA). Opening the luncheon, Operations Director of AmCham Azerbaijan, Mr. Zaur Karimov welcomed the participants and briefed on the upcoming projects and events of the Chamber.Ms. Nargiz Nasrullayeva-Muduroglu, the President of AmCham Azerbaijan, extended a heartfelt welcome to the honourable guest speaker of the Luncheon and expressed her gratitude for his collaboration. She highlighted the ongoing endeavours of AmCham Azerbaijan in fostering the interests of local and international businesses in Azerbaijan. Ms. President also emphasized the Chamber's enduring commitment to maintaining constructive discussions and cooperation with the Central Bank of Azerbaijan across various areas of common interests. Mr. Governor warmly welcomed all the participants of the event and expressed his gratitude to the Chamber for providing a great opportunity to engage in productive discussion with the business community. He provided a brief overview of the current trends in the macroeconomic environment and financial sector of the country, highlighting the critical role of the banking system in facilitating economic growth. He emphasized that the ongoing new generation reforms and macroeconomic policies have contributed to the achievement of macroeconomic and financial stability in the country that ensure a sustainable growth in a long run. Mr. Kazimov also discussed the key efforts to further strengthen the leading role of the financial system in promoting financial inclusion and access in Azerbaijan. He expressed the need for the financial sector to improve its readiness to tackle new challenges in global financial landscape. At the end, Mr. Governor discussed new objectives of the Central Bank aiming at enhancing the contribution of the financial sector to the development of the national economy in the future.The speech was followed by an interactive Q&A session, where all questions of business representatives were addressed by Mr. Kazimov.Afterwards, AmCham Banking, Finance & Insurance committee’s chairperson Mr. Jeyhun Mammadbayli gave a brief information on the forthcoming plans and activities of the committee. He also highlighted that the Chamber attaches significant value to the collaboration with CBAR and further strengthening of these ties.Thereafter, presentations on company portfolio and activities were delivered by ARAL Group, Unicapital, and Legalize. Over 160 people participated in the luncheon including high-ranking government officials, representatives of diplomatic corps, and senior executives from business community and member companies.
AmCham Members’ April Luncheon with the Assistant Secretary of Commerce for Global Markets Mr. Arun Venkataraman
On April 4, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its Members’ April Luncheon with honorable guest speaker Mr. Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service.The luncheon also featured organization of bilateral meetings with U.S. businesses interested in supporting the advancement of Azerbaijan's renewable energy ecosystem.Opening the event, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed the participants and briefed on the upcoming projects and events of the Chamber.Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, warmly welcomed the distinguished guest speaker of the Luncheon and expressed her appreciation for his partnership. She highlighted AmCham Azerbaijan's continued efforts to support and advance the interests of both foreign and local businesses in Azerbaijan. Ms. President emphasized the Chamber’s long-standing commitment to continue productive dialogue and cooperation with the government and businesses in all areas of common interest to expand the scope of the U.S.-Azerbaijan bilateral relationship.The Assistant Secretary Mr. Venkataraman extended a warm welcome to all the attendees of the event and expressed gratitude to the Chamber for the opportunity to engage with the business community. He emphasized the significance of such events in enabling U.S. companies interested in green opportunities in Azerbaijan to meet with business representatives directly. Additionally, Mr. Venkataraman highlighted the Department of Commerce and the U.S. private sector's commitment to supporting Azerbaijan in achieving its clean energy targets. He acknowledged the United States' commitment to collaborate with Azerbaijan on green energy and reducing emissions in high-carbon sectors. Mr. Venkataraman also mentioned that the current US administration has launched a coordinated, comprehensive approach to tackling climate change.The presentation was followed by an interactive Q&A session, where all the questions of business representatives were addressed by Mr. Venkataraman.Thereafter, presentations on company portfolio and activities were delivered by Altec, Borusan Cat, Cerberus, Hill International, SELECT Power Systems, Solar Tyme USA, UGT Renewables. During the presentations, company representatives expressed their readiness to share U.S. technical and financial expertise with local businesses to foster Azerbaijan’s strong renewable energy potential, including solar and wind resources.The second part of the event continued with organization of bilateral meeting between US companies and over 30 AmCham members. During the meetings, parties deliberated on ways to expand trade and investment between the United States and Azerbaijan. They also gained insights on companies’ operations, spotlighted commercial collaborations and partnerships, and shared their experiences regarding the local business environment.Over 130 people participated in the luncheon including high-ranking government officials, representatives of diplomatic corps, senior executives from business community and member companies.
AmCham Members’ March Luncheon with the Head of State Tax Service Mr. Orkhan Nazarli
On March 14, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its Members’ March Luncheon with honorable guest speaker Mr. Orkhan Nazarli, Head of the State Tax Service under the Ministry of Economy of the Republic of Azerbaijan.The Luncheon was organized with the generous sponsorship of PASHA Property Management LLC. Opening the event, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed the participants. Ms. Aslanbayli briefly touched upon the projects implemented within the strategic goals of the Chamber, as well as talked on the upcoming plans and events. Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, warmly welcomed the distinguished guest speaker at the Luncheon and thanked him for his role in the continuous and productive cooperation between the Chamber and the State Tax Service. She highlighted AmCham Azerbaijan's continued efforts to support and advance the interests of both foreign and local businesses in Azerbaijan. Ms. Nasrullayeva-Muduroglu also emphasised the organization's long-standing commitment to this goal and the importance of its productive dialogue and cooperation with the State Tax Service towards achieving it.Head of State Tax Service, Mr. Orkhan Nazarli thanked the participants of the Luncheon and noted that the relations between the STS and AmCham Azerbaijan uniting hundreds of foreign and local businesses, are based on the principles of effective partnership. 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. Mr. Nazarli noted that such 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. Mr. Nazarli also 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 presentation was followed by an interactive Q&A session, where suggestions and opinions of business representatives were considered, and all questions were addressed by Mr. Orkhan Nazarli.The event continued with the presentations of the member companies. First presentation was delivered by the sponsor of the event, PASHA Property Management. Chief Commercial Officer of PASHA Property Management, Mr. Elchin Gadimov provided comprehensive information on the main goals and values, as well as current activities and impending projects of the company. Thereafter, member presentations on portfolio and activity direction of the company were delivered by European Azerbaijan School. Afterwards, AmCham Tax & Customs committee chairperson Ms. Narmin Aslanova gave a brief information on the upcoming plans and activities of the committee. She also highlighted that the Chamber attaches significant value to the collaboration with the STS and further strengthening of these ties.Over 140 people participated in the luncheon including high-ranking government officials, representatives of diplomatic corps, senior executives from business community and member companies.