It is empirically proven that cultural affinity between trading parties accompanied by strong social and cultural ties stimulates the flow of trade by altering cultural barriers and creating an additional layer of trust between the parties. Countries connected with strong social ties, including cultural and linguistic bonds significantly increase the volume of traded goods. Cultural affinity between the trading parties – importing and exporting countries, stimulates exchange of information and good practices, bridges cultural gap between the parties, and helps to identify the best trade opportunities.
Azerbaijani diaspora communities in the United States have significantly integrated into American social and cultural life while preserving strong cultural and linguistic ties to their country of origin. These features can be utilized as a superior “market intelligence and access” tool, as it can facilitate information exchange between the parties while reducing the cost of transactions, including but not limited to market research. Diaspora communities abroad can bridge trading parties by creating favorable conditions for parties to adopt foreign values and seize the best trade opportunities.
Dr.Jaidev Singh, USAID Mission Director to Azerbaijan
Mr.Yusif Abdullayev, Acting President, Azerbaijan Export Promotion Foundation (AZPROMO)
Mr.Elshan Baloghlanov, Managing Director, WCC International (USAID/PSA)
Natig Bakhishov, Executive Director, USACC
To join the discussion, please register at [email protected] by July 13, EOB. You will receive the conference details upon the registration. The session will be live-streamed over the USACC’s Facebook page: https://www.facebook.com/usacc.org
The United States-Azerbaijan Chamber of Commerce, Inc. (USACC) is a Washington-based 501(c)6 trade association incorporated in 1995. USACC facilitates and encourages trade and investments between the United States and Azerbaijan.
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