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Washington supports Azerbaijan in joining WTO

15 November 2009 - Issue : 860


The US still strongly support Azerbaijan in joining the World Trade Organization, Trend news agency quoted the former US assistant secretary for economic, energy and business affairs, Daniel Sullivan, as saying. Joining the WTO promises to be one of the fastest ways for the country to seize the benefits of foreign markets and attract international investors, Sullivan said. While several major US firms, such as Chevron and Exxon, operate in Azerbaijan’s energy industry, the US would frankly like to see more of its investment in the non-oil sectors, he said. US companies can help Azerbaijan diversify its economy by bringing new technologies and skill sets. Azerbaijan has already made significant strides in improving the country’s infrastructure and regulatory environment.  These efforts earned it the distinction of being the Top Reformer in the World Bank’s Doing Business Report in 2009. Azerbaijan also became the first country to comply with the Extractive Industries Transparency Initiative, which sets the global standard for transparency in oil, gas, and mining, he said. Speaking of the energy cooperation, Sullivan stressed that the two countries have a long partnership in major strategic energy projects that have created linkages between West and East. It is important that Turkey and Azerbaijan build on this momentum and soon reach an agreement on gas pricing, transit, and any remaining issues needed to make the Southern Corridor a reality. 

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