Baku News

11 June 2008 - Neftegaz.Ru - Investment climate in Azerbaijan is too intricate for individual investments, said Alan Waddams, head of the representative office of the European commission, EU ambassador to Azerbaijan at the session of the Caspian business integration club (CIBC). "There are bureaucratic obstacles, but the Azerbaijan Economic Development Ministry works in this direction and one window principles in business registration, introduced in Azerbaijan, can be listed as a visual example. If processes for improvement of investment climate continue in Azerbaijan, European countries will invest more, use human, natural and other resources of the country for mutual benefit", said Waddams. "The EU market is open for Azerbaijan. As regards investments, EU has certain demands. Nevertheless, all markets try to create conditions for foreign investments", said the European commissioner. EU bases on tariffs, which are small and trade is conducted even on the tariff-free level.