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Being a country with the transitional economics, modern Azerbaijan is at the stage of the intensive development, confirmed by statistical indexes of the republican economic growth rates. The government constantly realizes the programs aimed at the establishment of the favorable legal and economic conditions for the development of the small, medium and large business, attraction of the investments, contribution of the modern technologies in the production, development and strengthening financial and banking system as basis of the stable and forward development of the country.
Azerbaijan was and remains an oil-producing country. Intensive development of the oil industry, existence of huge oil and gas deposits, oil contract signed in 1994 with the leading world companies have given opportunity to start realization of the largest projects on construction of a pipeline for the oil transportation via the Baku-Tbilisi-Ceyhan route. Hard work in the oil sector gives impulse to the development of the infrastructure in many other fields.
At present, dozens of authorized companies from the USA, Great Britain, Germany, France, Russia, Japan and many other countries realize their business in Azerbaijan. Big investments in the country economics are put by IMF, EBRD, World Bank.
Local businessmen adopt modern style and methods of management. Many changes take place in the field of education, science and medicine. New schools, medical institutions functioning according to the western standards have been opened.
Representatives of science, culture and art have many opportunities for wide and free communication with the colleagues from the other countries and travel there for work.
Azerbaijan actively cooperates with many international organizations confirming its desire to participate firmly in the implementation of humanitarian tasks, which are key to the social, moral and spiritual development of the nation. Azerbaijan became a full member of the Council of Europe since 2001.
The Republic participates in the project of the renaissance of the route of Great Silk Road within the framework of the TRACECA program, which will connect China with France reviving the ancient trade ties along the caravan routes.