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 Azerbaijan Republic (General Information)
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Date of Establishment – 28 May, 1918
Independence Day – 18 October, 1991
Territory – 86.6 thousand km2
Population – 8202,5 thousand people (before 2001)
Capital – Baku
National Language – Azeri
Currency – AZM (Manat)
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Azerbaijan covers more than 800 km of Caucasian isthmus along the Caspian Sea. The Republic, which is located in the border of Europe and Asia (latitude of 38°25” - 41°55” N and altitude of 44°50” - 50°52”N) and has unique geo-political and geographical location has retained its historical importance regarding economical and cultural relations all over the world. The area of the Azerbaijan Republic including Autonomous Republic of Nakchyvan (5.5 thousand km2) is 86.6 thousand km2. Azerbaijan has borders with Russian Federation (179 km long) from north, with Armenia (785 km) from west, with Republic of Georgia (322) from north-west, with Turkey (11 km) from south-west, with Islamic Republic of Iran (618 km) from south.
The territory of Azerbaijan is surrounded with mountains from 3 sides: from south – Great Caucasus Mountains; from west and south-west Small Caucasus Mountains; from south Talysh Mountains.
The area between these mountains is largest Kura-Araz lowland. The lowland is surrounded with sloping plains and low mountains. Also there are four large lowlands in the territory of the Republic: north slope of Great Caucasus Mountains (Gusar Sloping Plain and Samur-Davachy Plain); Nakchyvan Plain within South Caucasus Plateau; plain in Absheron peninsula and last plain is Lankaran Plain, which is located at the bottom of Talysh Mountains.
Thus, the surface of Azerbaijan is like a plate surrounded by precipitous rocks and sloping to the Caspian Sea.
The eastern coast of Azerbaijan is washed with waster of Caspian Sea. Caspian is the biggest salty lake in the World. But based on its size, hydrological characteristics and origin Caspian is called Caspian Sea.
At present the area of the Caspian Sea is 394 thousand km2 and Caspian Sea is bigger than many other seas of Great Oceans. The length of the coastline of Caspian Sea is 6380 km. The length of the coastline Caspian Sea that belongs to Azerbaijan is more than 800 km.
The sea level of the Caspian is 28 m below the ocean level.
Salient characteristic of the surface together with characteristics related to the geographical location of Azerbaijan show than in most cases Azerbaijan has rich nature.
The modern profile of Azerbaijan landscape, volcanic plateaus, deep depressions between mountains and river valleys together with plains, coasts, various natural reserves complex have developed during millions of years of geological history. Diverse and divaricated and partitioned landscape of Azerbaijan has good potential in different fields.
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Azerbaijan has rich natural resources. Main natural resources are oil and natural gas. Famous oil and gas fields are in Absheron Peninsula and Caspian shelf.
Fields in Siyazan region north to Absheron peninsula have good potential. There are oilfields to west and south-west of Absheron in Gobustan, Shyrvan, Salyan plains. At present big oil fields were discovered in water area south to Absheron. Gas fields are also very important.
There is unique therapeutic oil type (Naftalan) discovered in Ganja city.
Azerbaijan has rich resources of iron ore and alunite. There are reserves of sulphurous pyrites, molybdenum and arsenic. Polymetallic ore fields in Filizchay in the upper flow of the Balakan River have industrial importance.
Main iron ore fields are in Small Caucasus Mountains (in Dashkasan). In north hills of Small Caucasus Mountains there is alunite field in Zailyk region and this field is one of the biggest alunite fields in the world. Also there are cobalt and sulphurous pyrites reserves near these regions (Dashkasan-Ganja regions). Gadabay, Tovuz, Ordubad, Kalbajar and Zangilan regions have rich gold, silver and copper reserves. Rock-salt (Nehram field has reserves of 2-2.5 billion tons), arsenic and molybdenum (in Paragachai) fields are being developed in Nakchyvan.
Azerbaijan soil has large reserves of various construction materials. Marble, which is not different from “karrar” marble, also beautiful and strong tuff is extracted within the territory of Small Caucasus Mountains. In Absheron peninsula gravel, sand, lime, fire resistant and brick clay is being produced. The Republic has resources of 300 billion tons of building stone (Guzdak, Mardakan, Dovlatyarli, Dilagard, Shakhbulag, Naftalan and Dash Salakhly) and 24 million tons of facing material (Gulbakht, Dashkasan, Shaktakhty, Gulably).
Azerbaijan has more than 1000 cold, mineral and thermal water resources. Most famous of these resources are Istisu, Turshsu, Badamly, Galalty, Shikhburnu, Surakhany.
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In Plains – hot and dry summer, rainy and moderate autumn, cool and humid winter, non-stable, hot-cold spring. In Mountains – multi-level, even permanent snow and ice in highlands, sunny and shady, windy and still foothills are main characteristics of climate in Azerbaijan. This climate is based on change to subtropical climate.
But considering that some subtropical meadows are being used for husbandry, the territory of Azerbaijan can be divided into two parts: Alazan-Agrichai valley that covers most part of plains and Lankaran plain. The climate characteristics are based on properties of geographical location of Azerbaijan, continuing processes, and surface diversity of Azerbaijan.
In aran (lowland) part of Republic spring begins in early March.
Summer is the longest season in Azerbaijan. Season begins in early May, finishes in middle or sometimes end of September. The hottest months are July and August. In Aran regions and Absheron peninsula autumn begins in October. In general the winter in Azerbaijan is moderate. The coldest months are January-February.
Azerbaijan has 9 (from dry, humid subtropical to tundra) of 13 climate zones that exist in the world. Temperature differences can be between -45°C in mountains and 45°C in plains.
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All rivers of Azerbaijan flow to the Caspian Sea. Some of them flow directly to Kura river, others to Araz, the largest branch of Kura and the rest directly to Caspian Sea. Annual flow of the rivers in Azerbaijan is 7.8 billion m3.
River network in the territory is unequally distributed. In dry lowlands with loose ground water flow is spread, in mountains water flow is dense considering the rich precipitations and impact of landscape.
The longest river of Azerbaijan is Kura River. The length of Kura River within the territory of Azerbaijan is 900 km. Araz is flowing into in 236 km of the Kura River.
The second biggest river of Azerbaijan takes its origin from Turkey as Kura River. Length of river is 1072 km. Along the 580 km of riverbed is the border of Azerbaijan with Turkey and Iran.
There are more than thousand rivers in mountains of Azerbaijan that are less than 10 km long. Approximately 800 rivers are 10 – 100 km long. 23 rivers are longer than 100 km.
The potential hydro energy reserves of Azerbaijan rivers is about 16 billion kilowatt-hours. Main parts of it belong to Kura and Araz rivers. There are Mingachevir (Biggest in Southern Caucasus), Shamkyr, Yenikand, Varvara, Araz hydro energy stations on Kura River and Nakchyvan on Araz River.
Only Kura River has transportation importance. The part of river from Yevlakh city to river outlet is navigable for middle size passenger and cargo transportation ships.
These rivers also have fishing potential. Salmon and sturgeon spawn in this river. Trout also can be found in rivers of Small Caucasus.
There are more than 250 small lakes: There are historical lakes (Hajigabul, Sarisu) on Kura River. There are tectonic, puddle and glacier lakes in highland regions: Goygol (1 556m above the sea level), Big and Small Alagol (2 730 m above the sea level), Lake-harbors along the Caspian coast – Davachy, Gemishovan, Gila, Gilaagna. Banagadi Kir Lake in Absheron is unique. There are historical mass burial of animal residue.
Along with natural hydrographic network in Azerbaijan, there is also artificial irrigation system regulated using the reservoirs. The biggest of these is Mingachevyr reservoir, build in 1953 in the middle flow of the Kura River. The dumb with height of 88 m created a reservoir the area and capacity of which is respectively 605 km2, 16.1 million m3. There are also Araz (1.350 thousand m3) and Shamkyr (2.670 thousand m3) reservoirs. Upper Karabakh and Upper Shyrvan irrigation channels begin from Araz reservoir and are used for watering the lowland coast of Kura-Araz. Most dense irrigation channel network is in Mugan plain. The length of main water lines and branches is more than 3000 km. The Samur-Davachy irrigation channel with a length of 191 km is used in Samur – Davachy lowland. The channel starts from Samur River and flows to Jeyranbatan reservoir and then spreads across Absheron peninsula. This channel is used for irrigation of North-Eastern part of Azerbaijan and Absheron, but also for daily consumption of population of Baku and Sumgait. Total length of channels in Azerbaijan is 47 058 km and the area of territory watered is 1.4 million hectares.
The ground waters used in agriculture have big importance for water supply of some regions pf Azerbaijan, in Absheron these water are a bit salty.
Caspian Sea is unique water reservoir in the world. Caspian Sea is very important for Azerbaijan.
Caspian Sea has big impact on nature and economy of Azerbaijan Republic. Sea is important and cheap transportation route. In the content of its water there are more than trillion types of salts. Oil and fuel gas is being extracted from the bed of Caspian. 65% of oil condensate and 95% of gas condensate belongs to offshore fields. Sanatoriums, hospitals and recreation areas are being constructed along the Caspian coast.
The level of Caspian Sea is changing, and this fact has an impact on development of transportation, extraction of oil from shelf, fish industry etc.
Caspian Sea has rich reserves of rare fish species. More than 80% of worlds sturgeon reserves are in Caspian. Caspian Sea provides most part of the black caviar production.
The territory of Azerbaijan has rich resources of thermal and mineral waters. The therapeutic characteristics of “Badamli”, “Sirab” and “Istisu” are well known around the world.
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There are more than 4100 plant species in the territory of Azerbaijan. More than 200 of these plants are endemic. “Eldar Shami” pine tree can be found only in Azerbaijan and neighboring Georgia. Caspian Lotus (“Sanagullesi”) which can be found in the delta of Kura River has unique beauty.
“Tugai” forests that have grown after Kura, Araz and Alazan floods, protect the ground and are located in the coast of rivers, which have strong water flow and cross dry plains. These forests have rich reserves of oak, poplar, willow and hazel trees.
The foothills with the height from 600-700 m to 1800 m are covered with forests that have oak, hornbeam, beech, huge birch trees and also ash-tree. These forests cover more than 10% of the territory of Azerbaijan Republic. Highland forests have water-protective and soil-protective characteristics and have good hunting, recreation and tourism potential.
Broad-leaved highland forests of Talish-Lankaran region are very important. Ancient species of pink siris, heavy argan tree and immersed argan tree.
Flora of Azerbaijan is source of valuable raw materials, food products and construction materials; the flora of the Azerbaijan Republic consists of therapeutic, tanning, paint plants and also plant with vitamin content, savage fruits and feeding plants.
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There are more than 12000 animal species in Azerbaijan Republic. They consist of 92 species of mammals, 350 species of birds, 49 species of reptiles, 9 species of amphibians, 88 species of fish and 10 species of invertebrates.
There are several zoogeographical provinces in Azerbaijan Republic and each of these provinces has specific animal species-fauna complex.
The fauna of dry lowlands of country consists of rodents (myagrum, jerboa etc.) and reptiles (typical tortoise, whip snake, boa and lebetina viper).
In plain areas you can found Central Asia gazelle, fox, wolf and badger.
Bird species are different. You can find more than 200 migrating bird species in Gizilagaj preserve, wetlands and humid forests of Lankaran lowland. Also million of birds – pelicans, flamingo and swans come together in these regions. Rare gallinule lives here during the year.
Presence of bats in bottom parts of Great and Small Caucasus is normal. Also you can find griffon, rock nuthatch, partridge, wild rock pigeon, pheasant, agama, lebetina viper. From reptile species you can find gecko, cat snake and rock lizard.
In middle highland forest of Caucasus you can find Caucasian deer, ibex, roe deer and bear. Leopard that lives here gives specific beauty to the fauna of Azerbaijan forests.
In grassland-rock of Great Caucasus you can find endemic Dagistan ibex and also a group of ibexes. In Small Caucasus wild Asiatic moufflon and white goat (one of ancestors of household goats) replace these ibexes. In every high mountain you can find big gryphon – lammergeyer, also endemic species like Caucasian heath cock and Caucasian snowcock.
The water of Caspian Sea has rich fish resources. Different species of herring, Caspian salmon, Russian sturgeon, Starred sturgeon, Beluga, Roach, Caspian Asp, Shemaya, Kutum,Caspian Lamprey, Kilka etc. are available for fishing. There more than 50 species of fishes in Kura River and 23 of them have industrial importance.
Preserves and temporary protected areas have been established for protection of valuable and unique plant, bird and animal species. Biggest preserves are in Zagatala, Gizilagaj, Girkan, Tirianchai, Garayazi, Agstafa, Shaky, Guba-Gusar, Goy-gol, Lachin, Bandavan preserves. More than 100 animal species have been included to the “Red Book” of Azerbaijan.
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Azerbaijan is industrial-agrarian republic. Multi-sectoral economy of Azerbaijan is based on use of different types of natural resources. In addition to oil and gas production, industrial development also covers metal, sink, molybdenum ore, rock-salt, drilling mud containing iodine and bromine, gypsum, limestone, bitumen, clay, marble and other natural resources and hydro energy resources. The agriculture of the country is specialized in growing of vegetables, fruits, cotton, tobacco and subtropical plants and also in silkworm production and sheep-breeding. Taking into account the aforementioned the relevant sectors of the Azerbaijan industry involved in initial processing of agricultural raw materials are very important.
Azerbaijan has good labor resources and this fact is explained to be the result of demographic increase. The developing economic relations with foreign countries stimulate the development of transportation network of Azerbaijan Republic. In international labor classification Azerbaijan is specified as country with developed sectors like oil production and processing, chemistry and electroenergetics, oil machine building, ferrous and non-ferrous metallurgy, production of construction materials, wood and food industries. In general industry and especially heavy industry is important part of countries economy.
More than half of the national production belongs to industrial production and 70% of this industrial production is concentrated in Absheron and consists of oil production and processing, which forms the basis for the development of other sectors like chemistry, electrical engineering, machine building and ferrous metallurgy. Also oil industry and related sectors forms the 50% of country’s industrial potential and therefore these sector faces problem that occurred after the termination of economic relations as a result of collapse of Soviet Union. Also considering the increase of foreign investments these sectors have the biggest potential for development.
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Production and processing of oil is the main part of Azerbaijan industry. Starting from 1871 over one billion tons of oil were produced in Azerbaijan. Previously oil was produced only in Absheron, but after some time there were many new oil fields discovered in other regions of Azerbaijan. Since 1941 offshore oil production is used in this industry. According to the experts opinion there is 2.3 billion ton oil reserves in Azerbaijan.
After the independence of the Azerbaijan, the need to increase the oil and gas production occurred in order to eradicate the economical problems. Because of the lack in financial resources the government decided to invite foreign companied to invest money to this sector. As a result an agreement on development of oil fields wad signed with countries like USA, UK, Norway, Russia, Japan and Turkey.
This agreement was named as “Contract of Century”. Implementation of the agreement enabled many companies to invest into the economy of Azerbaijan. In near thirty years the planned flow of foreign capital will be about 16-17 billion $. As a result of this policy the logistics of the oil industry got stronger. Development of contracted “Azeri”, “Chyrag”, “Gunashly” and “Shah Daniz” oil fields started. Modern oil processing facilities like floating heavy drilling facilites “Dada Gorgud”, “Gurtulush” and “Lider” were commissioned. A “Baku-Batumi” western oil pipeline from Sangachal to Supsa with a length of 926 km was build and commissioned.
The construction of the “Baku-Tbilisi-Ceyhan” pipeline, the longest pipeline in the world was completed. The construction of “Baku-Erzurum” gas pipeline is proposed.
Oil processing is also developing based on the improvement of oil production. Azerbaijans oil, based on its hydrocarbon characteristics (less sulphurous) is a good raw material for organic synthesis. Baku oil processing plant initiated the production of more than 100 oil products and half of these products are high quality lubricating oil. Production of gas and gas condensate plays an important role in fuel balance.
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Chemistry and petrochemical industry based on oil and gas processing plays an important role in the economy of the country. Enterprises involved in this sector are located near raw material sources like Baku and Sumgait and also Ganja, Salyan and Neftchala.
High octant pertrol, diesel fuel, lubricating oil, oily admixtures and other chemicals are produced in oil processing plants. In huge plant like “Khymprom”, “Synthetic rubber”, “Organic Synthesis”, “Superphosphate” and “Household Chemical Goods” and in polymer combines other polymer products and also synthetic rubber, tire, soot, herbicides, household chemical goods, plastics, artificial skin, resin, sulphates, blue vitriol, nitrogen, superphosphate, chloride, sulphuric acid, hydrochloric acid, hydrate of sodium, ethyl alcohol, ethylbenzene and other alcohols.
Potash fertilizer, soap, paint, lacquer are produced in Ganja. Plastics, polyethylene facing material, pipes etc. is produced in Salyan. Iodine, bromine is produced in Neftchala. Many chemistry and petrochemical industry products are exported.
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High energy capacity of the industry stimulated the development electroenegetics including heating, and especially power stations (Mingachevyr and North State power plants, Ali-Bayramly heat power plant and Ganja heat power plant) and hydro power stations (according to some opinions the rivers of Azerbaijan have an unused energetic resources of more than 15 billion kilowatt hour is still ) that use natural gas and mazut as fuel.
The biggest hydro powers are Mingachevyr, Araz, Shamkyr, Yenikand, Varvara.
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Engineering industry forms 1/5 of the Azerbaijans industrial potential and includes oil sector engineering, radioelectronics, instrument building. In recent years, huge sectors of engineering industry that stimulate the scientific-technological improvement are priority sectors in the countries development. Electrical engines, cable products, automotive mean, home conditioners, refrigerators etc.
The development of engineering and metal processing in Azerbaijan is related with oil production. As a result today the leading sector of engineering industry concentrates on production of different drilling and production equipment. Other sectors are electrotechnics, home appliances and different instruments.
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The metallurgy of Azerbaijan includes extraction and enrichment of ferrous and non-ferrous metals and production of fire resistant metals. The metallurgy of Azerbaijan has strong relationship with satisfaction of needs of oil industry. The leading enterprises of this sector are tube-rolling mill in Sumgait, Baku electric steel mill that produces cast steel, fittings and rolls, iron ore field and ore processing combine in Dashkasan. Ganja-Sumgait aluminum industry, development of copper, Filizchai polymetal fields in Gadabay is very important. Development of some gold fields in Gadabay is also proposed for future.
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The production of construction materials can be divided into main three sectors: production of mineral raw materials for construction, production of materials and construction of different construction equipment. There are more than 1000 mineral raw material sources. The main sources are: cut limestone, river stone, facing limestone, marble, limestone, sand, gravel, tiling clay, clay rock, construction raw materials like cement, carbonate strata. The main products of construction materials industry are blocks, brick, glass cement, asbestos, dale and earthenware products, asbestos-cement pipe, heating isolation, polymers, concrete structures and panels.
In recent years increase of construction activities in all regions of Azerbaijan lead to an increase in demand for construction materials. In relation to this production of construction materials was initiated in Guba-Khachmaz (sand, gravel, brick, stone and tiling) and Lankaran (brick, tiling and wood products).
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There are different sectors of light industry operating in Azerbaijan like cotton-cleaning, weaving, sewing, silkworm production (Barda, Shyrvan, Shaky are ancient silkworm centers), wool-washing (Yevlakh), knitted fabric and leather-shoe. Considering the national traditions of Azeri people carpet weaving, jewelry products and production of copperware have special importance in the light industry of the country.
Shoe, knitted fabric, and sewing products, glass and Chinese earthenware, carpets etc are produced in big quantities and have different types.
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The food industry that is spread all over the country fully satisfies the demand of national market. Along with flour-milling products, butter-cheese production, canning products, vine production there are some internationally known sectors like tea and tobacco products.
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Woodworking, furniture, carton, bulk, facing paper, parquet, window frames etc. are products of woodworking industry of Azerbaijan. Most enterprises of woodworking industry are concentrated in Baku. Also there are woodworking enterprises in Ganja, Sumgait, Nakchyvan, Zagatala, Balakan, Khachmaz, Lankaran and Astara. As a result of lack in local wood resources wood and construction materials is imported from Russia. There big opportunities to use polymer materials in furniture production in Azerbaijan.
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Based on favorable climate conditions (heat, light, continuous vegetation period) agriculture is specialized in growing of valuable agricultural plant species. But lack of land for growing purposes is specific for country and for its highland regions. Only 4 million hectares of all lands (8.7 million hectares) of Azerbaijan can be used for agricultural purposes. More than 22% of these territories are under tillage, 2 million hectares are winter and summer pastures, and parennial herbs are growing in the areas favorable for agriculture. More than half of the lands that are under tillage are in the Kura- Araz lowland.
Husbandry of Azerbaijan approximately fully depends on irrigated lands (melioration works are implemented in 70% of agricultural lands). Therefore, several main channels were built in the central part of the country in order to enable the irrigation of 1 million hectares of land. These channels start from artificial reservoirs. The biggest reservoirs are on Kura River – Mingachevyr, Shamkyr, Yenikand, Varvara, Bahramtapa reservoirs. Arpachai, Vaikhyr and Vilashchai reservoirs are used for irrigation of agricultural lands.
Main type of plant that is planted in large areas is cereal crops (grain, winter barley, rice). The average grain production from each hectare in the Azerbaijan is 10-11 centners, rice is 15 -18 centners. From industrial crops you can find average fibrous cotton (first place), valuable tobacco types (second place) and sunflower. There are vegetable growing regions along the coast of Caspian. Lankaran is specialized in early growing types. 3.6% of national production belongs to Lankaran-Astara zone, 19.8% belongs to Guba-Khachmaz zone. Horticulture is the main sector especially in Nakchyvan and Gusar and also vine-growing is a specialized sector. Nut plants and mulberry trees are unique. There more than 200 types of feeding plants and kishmish types grong in Kura-Araz lowland, Highland Shyrvan, Karabagh and Nakchyvan. Green tea leaf, subtropical (pomegranate, date, fig, olive and feykhoa) and citrus fruits plants are grown in the subtropical zone of the country.
Cattle-breeding is based on pastures. This has an impact on breeding of most profitable sheep the biggest type of which is highland merino (balbas). The domination of buffaloes and zebus that have fatty milk in the flock is main characteristic of cattle-breeding. Poultry keeping is developed. Poultry farms provide 50% of local demand for meat and egg.
Fish-breeding is developing. There are many fish farms that operate along the Kura River. The number of these farms is rapidly increasing. Silkworm as one of the ancient sector plays an important role in the economy of the Azerbaijan.
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The railways that are one of the key transportation means consists of branched network. The Baku-Darband route connects Azerbaijan to the Northern Caucasian Roads of Russian and then to European part of Russia, Baku-Agstafa route connects Azerbaijan Black Sea harbors through Georgia and Julfa Station connects Azerbaijan to Iran.
Related to the development of foreign economic relations marine transportation is very important. Using Baku harbor, the biggest harbor in the Caspian Sea, cargos can be transported within the borders of Caspian Sea and Volga River. The ferry-boat from Turkmenistan implements direct cargo transportation between Asia and Europe.
Motorways play an important role in the cargo transportation inside the country. The favorable transit location of Azerbaijan and international airport makes Azerbaijan international center for cargo transportation.
Related to the development of foreign economic relations marine transportation is very important. Using Baku harbor, the biggest harbor in the Caspian Sea, cargos can be transported within the borders of Caspian Sea and Volga River. The ferry-boat from Turkmenistan implements direct cargo transportation between Asia and Europe.
Motorways play an important role in the cargo transportation inside the country. The favorable transit location of Azerbaijan and international airport makes Azerbaijan international center for cargo transportation.
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It’s planned to fully provide Azerbaijan with phones until 2006. At present, 96% of Azerbaijan has phone communication. The investments to the telecommunication sector increase every year. The replacement of old dial (central) office equipments with electron equipment.
All telecommunication system of Azerbaijan is switched to digital system. In near future the number of telephone subscribers will be 1 750 000. The number of mobile phone user is more than one million and Azerbaijan is one of the leading countries. At present, a project on construction of Trans-Asia-Europe optic lines through Azerbaijan is developed and implemented. Currently it’s possible to communicate with neighbor countries using the optical line and through these countries you can contact with any location in the world. All these developments stimulate the development of Internet in the country. Internet is available anywhere in the country since 2001. In these cases the subscriber uses the international network and pays only for Internet.
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Azerbaijan has chosen the free market economy after the obtaining its independence as economic strategy. The entrepreneurship forms the basis of the free market economy in the country. Today the legal framework for implementation of entrepreneurship is completed. For example, several laws that create favorable conditions for entrepreneurship were adopted. These laws include “Law on Entrepreneurship”, “Law on Joint Stock Companies”, “Law on Land Reform”, “Law on Antimonopoly”, “Law on Commodity Exchange”, “Law on Securities and Stock Exchange” etc.
In order to stimulate the development of entrepreneurship capital from foreign banks are attracted to market, tax system is changing, complex approach is applied by government, state policy is getting systematical, programs on development of SME are developed, national entrepreneurship compensation is created, entrepreneurship infrastructure is being developed, priority sector are being determined for the development of entrepreneurship to ensure healthy competition, entrepreneurs are provided with long-term and concessive credits, the interest rates for short-term credits are decreased.
Stabilization program and reforms are implemented regarding key structures and sectors in order to ensure stable development of Azerbaijan economy.
All these and other proposals help to develop entrepreneurship and as a result develop the country.
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NATURE AND RESOURCES OF AZERBAIJAN 