ANALYSIS OF FOREIGN TRADE TURNOVER BETWEEN AZERBAIJAN, RUSSIA AND KAZAKHSTAN

Musa Abbaszade

doi:10.51582/interconf.7-8.10.2021.003

Abstract

The article covers the economic relations between Azerbaijan, Russia and Kazakhstan that give rise to mutual understanding and all-round cooperation in various scenarios, as well as affect other areas. The article emphasized the role and importance of economic relations in the interpretation of foreign trade operations of each country of the region.

Highlights

With the aim to develop the entrepreneurship in Azerbaijan, the continuous improvement of the business environment, the improvement of the legislative framework in this area, the promotion of local and foreign investment, the production of competitive products provides our country with access to international markets
Relations Between Azerbaijan's Gross Domestic Product (GDP) and the Balances of the Trade Relations of Russia and Belarus ”[6] econometric analysis of GDP dependence Azerbaijan from the balance of the Russian Federation and the balance of Belarus were carried out according to statistical indicators for 26 years
For check identification of the model, the corresponding statistical methods, error correction models studied[8].Noted to these research, this paper devoted to the statistical analysis of foreign trade turnover between Azerbaijan, Russia and Kazakhstan

Summary

Introduction

With the aim to develop the entrepreneurship in Azerbaijan, the continuous improvement of the business environment, the improvement of the legislative framework in this area, the promotion of local and foreign investment, the production of competitive products provides our country with access to international markets. In 2020, the Russian Federation held 70% of the share of goods imported from the CIS member states to the territory of the Republic of Azerbaijan, while Kazakhstan accounting for 4%.

Results

Conclusion