Doing business & staying in touch while in Azerbaijan

Azerbaijan: Doing business & staying in touch

Doing business in Azerbaijan

Doing business in Azerbaijan is quite straightforward but your success often depends on who you know. All documents should be translated into Azeri and you may need a local fixer/translator. Be prepared to take your time and drink lots of chai – the delicious, low-tannin local tea. Azeris are no pushover and are renowned for their negotiating skills.

Business attire is similar to that in southern Europe for both men and women. A smart look is the norm. Suits are widely worn but in summer a short-sleeved shirt is suffice.

Local businesswomen wear sharp skirts and high heels but you may want to check the uneven pavements before copying. July and August are searingly hot with temperatures in Baku approaching 40C and winters are cold and windy. Dress accordingly.

Office hours: 

Mon-Fri 0900-1700.

Economy: 

Azerbaijan's economy is centered on its large oil and gas industry. Most of the reserves are located in the Caspian Sea basin and the Azeri government has signed a number of major deals with a variety of consortia for the exploration and development of various offshore fields. A pipeline transporting Azeri oil directly to the Mediterranean for transport to European and US markets began delivery in 2006.

Construction, banking and real estate have also shown recent growth. Despite soaring oil revenues the gap between rich and poor is widening and wealth is increasingly concentrated in the hands of the ruling family and their associates, who are noted for their conspicuous consumption.

Inflation was at 2.4% in 2013, with unemployment at 6% and growth at 6%. Literacy for both men and women nudges 100%. The currency unit is the Manat, which is conveniently close in value to the Euro.

GDP: 

US$102.7billion (2013).

Main exports: 

Oil, gas, cotton, machinery, foodstuffs.

Main imports: 

Machinery, equipment, metals, chemicals and foodstuffs.

Main trading partners: 

Italy, France, Russia, Germany and Turkey.

Keeping in Touch in Azerbaijan

Telephone: 

International calls from Azerbaijan may be dialed directly from Baku and some other towns throughout the country.

Mobile phone: 

Roaming agreements exist with most international mobile phone companies. Coverage is mostly limited to the capital and main towns and is non-existent in many mountain areas.

Internet: 

Available in all cities and towns.

Post: 

International postal services are sometimes disrupted. Delays occur, although letters should normally take 10 to 14 days to arrive. Parcels should be registered or sent by courier services to accelerate the process and ensure against loss.

Media: 

There are a number of state-run and public media outlets that compete with private and opposition publications and private broadcasters. Despite official freedom of speech, the Azeri media is tightly controlled and very self-censoring.

Press: 

• Newspapers include Azadliq, Ekho and Zerkalo (in Russian and English).
• The government daily is Azarbaycan.
• The English-language newspaper is Baku Today.

Television: 

• The state broadcaster has two national networks, Azerbaijan TV and Public TV.
• Private stations include Space TV and Lider TV.

Radio: 

• There is a state broadcaster with two national networks, Azerbaijan Radio 1 and Azerbaijan Radio 2.
• Private-run FM stations include ANS ChM, Radio Lider and Radio Azad Azerbaijan.