Ministry of Communications and Information Technologies of the Republic of Azerbaijan
BISNIS - U.S. Department of Commerce
Embassy of the Republic of Azerbaijan in Washington, DC
U.S. Embassy in Azerbaijan
Hyatt Regency Baku
The International Bank of Azerbaijan
On October 1-4, 2006 , the United States-Azerbaijan Chamber of Commerce (USACC) will host a trade mission to the Republic of Azerbaijan for leading U.S. firms specializing in Info rmation and Communications Technologies (ICT). This trade mission will feature a host of meetings with senior level government officials and industry representatives in the Republic of Azerbaijan, including a meeting with President of Azerbaijan, Ilham Aliyev (tentative) and two ministers, Dr. Ali Abbasov, Minister of IT and Communications, and Heydar Babayev, Minister of Economic Development (tentative).
Trade mission participants will benefit from country economic and sector specific briefings and one-on-one individual business appointments with prospective agents, distributors, partners, and end-users and a city tour. In addition, the USACC will sponsor an exclusive U.S.-Azerbaijan business forum in association with the 12 th Azerbaijan International Telecommunications and Info rmation Technologies Exhibition and Conference ( BakuTel 2006 ), which will take place in Baku on October 3-6, 2006 . Mission participants will also have the opportunity to advertise their companies and product lines at the USACC stand at BakuTel 2006 . The mission will be led by USACC Co-chairman, Mr. James A. Baker, IV and will be limited to not more than 15 senior representatives of leading U.S. ICT firms.
The USACC trade mission is an ideal opportunity for U.S. firms to explore the fast-growing ICT market and gain first-hand market exposure in Azerbaijan, to meet senior government regulators, to network with potential partners and distributors, and to identify ways to expand their business in Azerbaijan and the Caspian region. The mission is particularly designed to help stimulate participant companies' sales in Azerbaijan and increase American ICT firms' share in Azerbaijan's rapidly emerging ICT market.
Why ICT Trade Mission to Azerbaijan?
The economy of Azerbaijan is currently among the fastest growing economies in the world. In 2005, the growth rate was 26 percent, and it is expected to exceed 35 percent in 2006. According to the UN Conference on Trade and Development (UNCTAD), Azerbaijan is one of the most attractive countries in the world for investment. In 2005, $4.67 billion was invested in Azerbaijan , of which $3.24 billion came from foreign investors. In 2006, investments are expected to exceed $6 billion.
Azerbaijan 's ICT sector is an important segment of Azerbaijan 's non-oil economy and it has been growing at an average rate of 35-40 percent per year. The Government of Azerbaijan considers the development of the ICT sector as a top priority and has committed itself to create better business conditions for foreign investors in this critical area. It has taken a number of steps for establishing Special Economic Zones for information technologies and technoparks to foster the development of the ICT sector and to attract foreign companies and businesses.
The United States and Azerbaijan have signed a Bilateral Investment Treaty, which entered into force in August 2001. In November 2004, Fitch, the international ratings agency, raised Azerbaijan's sovereign Long Term Credit Rating on its obligations in foreign and national currencies from BB- to BB, giving the country a "stable" outlook; Fitch reaffirmed this assessment in January, 2006.
Current best prospects for U.S. non-oil products and services include:
architectural, construction & engineering services
telecommunications equipment and services
food processing/packaging equipment
Some of the benefits of the trade mission include:
assistance in obtaining a travel visa;
airport pick up/drop off;
a four-night stay at Hyatt Hotels in Baku (Oct. 1-4);
a tour of Azerbaijan 's capital city, Baku ;
a visit to the 12 th Annual Azerbaijan International Telecommunications and Info rmation Technologies Exhibition and Conference (BakuTel 2006);
an opportunity to advertise your company's product lines at USACC stand at BakuTel 2006;
a presentation at the USACC sponsored U.S.-Azerbaijan business forum;
one-on-one business appointments with potential agents, partners, and distributors;
official receptions, luncheons and dinners;
a number of meetings with high ranking government officials, including Minister of Communications and Info rmation Technology, Ali Abbasov and Minister of Economic Development, Heydar Babayev;
a meeting with President of the Republic of Azerbaijan, Ilham Aliyev (tentative).
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