Akademik Məlumat İdarəetmə Sistemi
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.261-266
Nowadays internal and external (foreign policy) course of Azerbaijan Republic could be an example for the other countries of the region. Azerbaijan demonstrates the practice of systematically conducting a balanced political course in such a complex region as the South Caucasus and the international position of the country is growing day by day. The article notes that Azerbaijan is a country with very favourable climate conditions and rich natural and soil resources, large reserves of high-quality oil and natural gas. This article discusses the development of external economic relations of Azerbaijan, a policy that guarantees the distribution of natural and industrial resources. At the present stage economic development of Azerbaijan is largely determined by globalization processes. Internationalization and the challenge of globalization reinforces the need to increase the openness of the national economy. The purpose of this article is to show the ways to strengthen the external economic orientation towards globalization, to open up new opportunities for development of the country. The idea of expanding world economic relations with both international organizations and individual countries is being justified, the possibilities of new technologies, the organization of management, knowledge and much more are being strengthened. The final part of the article is noted that the country's international trade gives Azerbaijan greater flexibility in the production and export of products with minimum costs. Also it states that in recent years Azerbaijan has increased its share in world trade by expansion of oil and natural gas extraction, reconstruction and construction of new power plants, restoration of the Great Silk Road and the tasks that today are set in the direction of expanding the base for tourism.