Page 21 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.71, # 2, 2014, pp. 21-30

INTEGRATION OF THE REPUBLIC OF AZERBAIJAN TOWARDS MULTILATERAL
TRADING SYSTEM

Emin Telman Teymurov
(PhD), MBA Lecturer, Azerbaijan State University of Economics
E-mail: [email protected]
Received; accepted; published online

Received 10 June 2014; accepted 10 November 2014; published online 25 December 2014

Abstract

The very article aims to explore the current status of the integration of the Republic of

Azerbaijan into multilateral trading system. In this regard, the trade and trade-related measures

taken in Azerbaijan, as well as current state of accession process to the World Trade

Organization (WTO)have been indicated. Moreover, progress made in the promotion, protection

and enforcement of intellectual property rights have been described. Besides, in order to ensure

the efficiency and effectiveness of integration, the importance of further development of human

capital on economic and trade matters has been highlighted.

Key words: foreign trade policy, intellectual property rights, trade measures, multilateral

trading system, human capital development.

JEL classification Codes: F10; 13, 15; 43; 63

1. Introduction

More open and outward-oriented economies consistently outperform countries with restrictive

trade and foreign investment regimes. Policies toward foreign trade are among the more

important factors that promote economic growth and convergence in developing countries. It is

also to be noted that the stage of economic development of a country is a determining factor for

its foreign trade policy. The more economically developed a country, the more their governments

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