Doing Business in Azerbaijan

Azerbaijan is gateway to Caucasus region being world's fastest growing economy. In 2008, Azerbaijan was cited as one of the top 10 reformers by the World Bank's Doing Business Report. Azerbaijan is also ranked 57th in the Global Competitiveness Report for 2010--2011, which is above other CIS countries. In 2010, Azerbaijan entered into top eight biggest oil suppliers to EU countries. Russia became the first largest oil exporter to the EU countries with € 74.35 billion. Russia is followed by Norway, Libya, Kazakhstan, Iran, Nigeria, Saudi Arabia and Azerbaijan with € 9.46 billion.