Bakı 2022 Students : Bəkirov Cavid,Hüseynzadə Toğrul,Həsənli Nərgiz Group : 131. 22 Subject: Developing speaking skills Teacher : Jalilli Nurida Topic Business

Bakı 2022
Students : Bəkirov Cavid,Hüseynzadə Toğrul,Həsənli Nərgiz
Group : 131.22
Subject: Developing speaking skills
Teacher : Jalilli Nurida
Topic - Business
After the restoration of independence in 1991, the Republic of Azerbaijan began to realize its sovereign rights in the economic field and to implement independent policy. The main directions of this policy are the organization of the economic system based on different types of property, transition to the market economy, and integration into the global economy.
Economically, the years after the independence can be divided into two main periods. The period of 1991-1995 was characterized by economic chaos and regression. The period after 1996 is known for an increase in macroeconomic stability and dynamic economic development.
As the result of far-sighted policy and intensive activities of the President of Azerbaijan, the national leader Heydar Aliyev, significant results were achieved in the fields of socio-economic development and integration into the global economic system within a short period of time – in spite of unfavorable initial conditions.
The great achievement was that the Azerbaijani model of the state system establishment and development was established over the past period.
At the beginning of economic recovery, the country lacked oil-exporting infrastructure. In order to fill this gap, in 1996 Azerbaijan signed an agreement allowing its oil exports via the Baku-Novorossiysk pipeline. pipeline.
One of the main tasks of the country’s leadership in that period was efficient use and reallocation of the benefits from rich oil and gas endowment. In order to solve this task, in 1999 the national leader Heydar Aliyev adopted the Decree promoting cooperation with international companies in this field.
The oil-gas sector played a dominant role in developing other sectors of the economy. The considered economic policy led to macroeconomic stability and sustainable economic growth, as the result, reforms started in all economic fields, new measures are taken in order to improve the social welfare of the population.
After maintaining independence as the major priorities of foreign economic policy, the Republic of Azerbaijan formed a relationship with international finance credit and economic institutions. Azerbaijan had been admitted nearly to of all international institutions, including in 1992 IMF, World Bank, EBRD, Islam Development Bank, in 1999 Asian Development Bank. 
The main directions and specifications of social-economic policy strategy, which is continued success and improved by the President of the Republic of Azerbaijan, Ilham Aliyev, is to transit to the market economy and to form a social, diversified national economy, which possesses the ability of self-development and to integrate to the world economy.
As the result of the implementation of this policy, obtained successes are strengthened, macroeconomic stability was secured, diversification of the economy, development of non-oil sectors and regions accelerated, efficient usage of strategic international reserves was secured, the stability of national currency and confidence of banking system increased, conservative external debt strategy implemented, support from government to entrepreneurship intensified, social welfare of population improved sustainably.
Today, Azerbaijan has improved its own quality new economic model, expanding political and trade relations between Europe and Asia, and playing an important role in the implementation of huge projects along with the development of the Caucasus transportation corridor. As a result of the implementation of international projects, Azerbaijan has become an international transportation hub and transportation corridor in the last few years.
The President of the Republic of Azerbaijan Mr. Ilham Aliyev signed the Decree on the large-scale promotion of local non-oil products in foreign markets as “Made in Azerbaijan” on 5 October 2016.
This Decree contains 9 different support mechanisms to stimulate exports and promote “Made in Azerbaijan” abroad. Currently, more than 3,000 varieties of products are exported under the `Made in Azerbaijan` brand.
The occupation of about 20 percent of the territory of Azerbaijan for many years has led to economic growth, which has not allowed it to use its potential. The enemy in the Patriotic War 2020 for 44 days restoration of liberated territories after a brilliant victory over them, ensuring further development, the creation of large-scale infrastructure, and the return of the population to their native lands actions are carried out.
Source
https://azerbaijan.az/en/information/401
https://www.oecd-ilibrary.org/sites/42efd1f2-en/index.html?itemId=/content/component/42efd1f2-en
https://www.ilo.org/wcmsp5/groups/public/---ed_emp/documents/publication/wcms_749432.pdf

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