Abstract

Azerbaijan is an oil and gas–producing country with both traditional and modern aspects. The country is a fascinating place to run a business as it was ranked 34th globally in terms of the Doing Business index in 2020. Azerbaijan is a land of old bazaars for traditional sellers and modern markets for innovative firms. Besides oil and gas products, agriculture, tourism, construction and transportation are among the country’s major sectors. With a whale of touristic destinations in which there are different bazaars, Azerbaijan’s economy has kept these historical mechanisms to meet its people’s current demands and attract more tourists. After its independence, the country has profoundly developed in terms of socio-economic factors and entered into several innovative and emerging markets. Thus, there are plenty of business opportunities to be explored, evaluated and exploited by potential individuals or companies in this country.