Azernews.Az

By Nigar Abbasova

The next stage of talks on Azerbaijan’s joining the World Trade Organization (WTO) started in Geneva, Trend reported citing the Azerbaijani Foreign Ministry.

Delegation of Azerbaijan at the talks is headed by the Deputy Foreign Minister Mahmud Mammad-Guliyev.

The Azerbaijani side is expected to respond to the certain questions which were submitted at a meeting in 2015.

Earlier it was reported that main issues to be discussed within the framework of the meeting with the representatives of the WTO member states cover ability of the country to support the economy given low oil prices, as well as economic development strategic plan in such situation.

Joining the WTO may give a number of privileges to Azerbaijan including greater access to international financial institutions, which in its turn may boost the economic well-being of the country.

Membership will open foreign markets to Azerbaijani goods, as well as support competition in domestic market.

Moreover, a country with the developing status can qualify for subsidies at a level of 10 percent of GDP while the figure stands at five percent for developed countries.

Azerbaijan has had an observer status at the WTO since 1997. Azerbaijan began negotiations with WTO member states in 2004. Currently, the country negotiates with 19 countries.

As of today, Azerbaijan has completed the negotiations and has signed protocols with Turkey, Oman, the UAE, Georgia and Kyrgyzstan. The country is currently at the stage of signing protocols with China and Moldova.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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