Azerbaijan Deep Dive

We are delighted to welcome back British Ambassador to Azerbaijan, HE James Sharp and his Embassy team, who will provide members with a detailed overview of the blossoming opportunities for UK business in the country. They will be joined on the panel by Chair of the British Business Group in Azerbaijan, John Patterson OBE; BBG is a local business group that provides useful networking for new market entrants from the UK.

Azerbaijan has defined itself over the last few decades as one of the most significant energy producers in the world. However, in recent years there has been a growing drive to diversify and transform Azerbaijan into a dynamic and outward looking economy that attracts an increasing amount of international business, across a range of sectors other than Energy.

Whilst recognising this shift away from oil and gas, energy still accounts for a significant amount of business in Azerbaijan and should still be considered as one of the main market entry points. The significant increases in the 2019 budget in allocations for education (up 13%) and healthcare (up 44.5%) have been very positive, although greater reform and development is still needed to develop human capital. According to the World Bank, further reform is also needed in the fields of private sector investment, competitiveness and carbon foot print reduction. British companies are well positioned to support Azerbaijan with these priorities.

 Members will be presented with an update on the current political and economic situation in Azerbaijan, some key insights around market access, and an overview of upcoming opportunities in sectors including Energy, Smart Cities, Infrastructure and Education.