Azerbaijan, Baku / Trend , corr. U. Ismayilova/ During a recent conference, dedicated to issues connected with Azerbaijan's joining WTO, Novruzov Guliyev, the Chief of the Centre for Global Economic Research, has said that Azerbaijan's joining the WTO (World Trade Organization) will both positively and negatively affect the country's economy.
Mr. Novruzov suspects that Azerbaijan's entrance to the WTO will have a positive effect on: Azerbaijan's strong trade relations with the WTO's 148 member-states; improvement of state legislation within WTO; transparency of entrepreneurship relations; foreign capital flows to the country; providing solutions to trade disputes and arguments in accordance with WTO standards; and observance of authors' rights on the market in accordance with WTO standards.
Mr. Novruzov singled out the appearance of expensive foreign foods and goods in the market among negative impacts in joining WTO, and further added that some types of subsidies would be cancelled in the country.
According to Mr. Novruzov, Azerbaijan is now in its eighth stage of joining the WTO.
Notably, the WTO was founded in 1995. This international organization consists of 148 member-states, with 30 country-observers. Azerbaijan has been a WTO country-observer since 1997.