Favorable conditions for business in Azerbaijan

According to Interfax-Azerbaijan, the ATIB press release notes that Yanghin said this at the meeting with a delegation of the Turkish society of independent industrialists and business circles (MUSIAD).

The meeting participants discussed potential for expansion of cooperation between Azerbaijani and Turkish entrepreneurs.

"It is favorable to conduct business in Azerbaijan. The state pays special attention to the entrepreneurship development. Azerbaijan holds active trade operations with the CIS states, the level of prices on housing services is low, the income tax rate is not high, there is a cheap working power, the customs system is improving", says the statement.

Yanghn said at the meeting that currently 35% of industrial production in the non-oil sector falls on enterprises that are members of ATIB.

ATIB was created in April of 2004. The members are 91 companies with Azerbaijani and Turkish capital. The overall founding capital of the ATIB members makes $800 mln, the overall volume of investments to Azerbaijani economy makes over $3 bln. The companies that are members of the association involve about 40,000 people.