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US Ambassador Invites Investors To Azerbaijan's 'Khanates'

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  • US Ambassador Invites Investors To Azerbaijan's 'Khanates'

    US AMBASSADOR INVITES INVESTORS TO AZERBAIJAN'S 'KHANATES'

    epress.am
    09.29.2011 17:58

    A major problem in Azerbaijani society is that political and economic
    power is highly concentrated among a few groups, said US Ambassador
    to Azerbaijan Matthew Bryza on the eve of a meeting with members of
    the Caspian-European Integration Business Club (CEIBC), RFE/RL reports.

    "If you look at the history of this region, for centuries there were
    groupings of power around what is today Azerbaijan that were known
    as khanates, which held power in various regions. Of course, [today]
    Azerbaijan is a[n independent] state. But to a certain extent, maybe
    some of those traditions of khanates in the economy continue," he said,
    adding that it's difficult for American companies to do business in
    the Caspian Sea nation because they don't understand with whom they
    can work and how to grow their business.

    According to him, corruption continues to be a problem in Azerbaijan.

    At the same time, he stressed Azerbaijan's attractiveness for
    investors and the strategic importance of the country. "Azerbaijan is
    the only country in the world that has 9 climatic zones. There is no
    'Dutch disease' and it prefers to implement projects with Turkey and
    Europe. And despite pressure from the north and south, Azerbaijan
    has a strategic relationship with the US," he said.

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