Fariz GASIMLI

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Fariz Gasimli, Ph.D. Student, Potsdam University (Potsdam, Germany).

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AZERBAIJAN ON THE WAY TO THE WTO: LATER BUT SAFER?

ABSTRACT

The WTO undoubtedly belongs to the leading institutions of the globalization process and it is among the most powerful and large-scale of them—most of the world states, including superpower nations, have conceded to its vast authority. Membership in the global trading system of the WTO (which currently includes 150 full members and 30 candidates) helps a country to accelerate its integration into the world economy and into the globalization process in general. Azerbaijan is currently one of the candidates to accede to the WTO. Accession to the WTO could be one of the pivotal geoeconomic and geopolitical factors for Azerbaijan in its integration into global trade and in establishing a true market economy in the country. The article analyzes Azerbaijan’s accession process to the WTO, assessing the benefits, losses, opportunities, and threats and suggesting some practical recommendations.

Introduction

The importance of membership in the WTO is strengthened by the globalization of world trade—trade relations are simply unavoidable in today’s interdependent world. If we look at how different national economies have developed over the ages, one thing comes to mind: integration into world economy goes hand in hand with the growth and prosperity of……………….

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