This report is prepared within the annual “EU-Azerbaijan Business Forum” funded by European Union since 2015. The forum aims to promote the economic cooperation between the EU and Azerbaijan. During the period 2020-2022 the assignment “EU-Azerbaijan Business Forum” is being implemented by COWI Belgium in partnership with Azerbaijan-France Chamber of Commerce and Industry (CCIAF), Italy-Azerbaijan Chamber of Commerce (ITAZERCOM), InvestBaku and in coordination with AZPROMO as part of the Ministry of Economy of Azerbaijan. Quality control for the assignment 2020-2022 is implemented by Ecorys.

The “EU Business Climate Report Azerbaijan 2020” is the fifth annual study introducing the business climate in Azerbaijan from the perspective of European companies, operating in the country. The strong focus of the report is devoted to the progress in implementing the economic reforms taking place in the country since 2016. The reforms aim to diversify the local economy by enhancing non-oil sectors and strengthening small and medium sized enterprises (SMEs). Taking into consideration newly raised challenges and opportunities caused by the COVID-19 pandemic, as well as military operations in and around Nagorno-Karabakh in 2020, this report also includes a special section on the impact of these new factors on the business environment and European companies in Azerbaijan.

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