The continuing development and close economic links between countries of the Eurasian Economic Union (Russian Federation, Republic of Kazakhstan, Republic of Belarus, Kyrgyz Republic, Republic of Armenia), and close historic ties between CIS countries encourage constant cooperation between the countries, increase the volume of mutual trade and number of business projects between the companies from these countries.
AmCham Azerbaijan held the U.S. Independence Day Cocktail Reception on 8th July 2019 with its members.
Legal 500 has recently released its annual rankings of international law firms – Legal 500 EMEA 2019.
Minimum monthly salary
According to Presidential Order dated 8 February 2019, starting from March 1st, 2019, minimum monthly salary in the Republic of Azerbaijan has been increased to AZN 180.
Resolution of the issues on problem loans of individuals
On February 28, 2019, President of the Republic of Azerbaijan issued a decree on additional measures in connection with the resolution of the issues on problem loans of individuals in the country. The Decree aims at compensating financial losses of individuals on debts in foreign currencies incurred as a result of AZN’s devaluation as well as providing state support to resolve problem loans.
Amendments to Law on Deposits’ Full Insurance
According to the Amendments made to Law on Deposits’ Full Insurance dated 19 February 2019, the term of full insurance has been extended for one more year (i.e. up to March 1st, 2020).