Research Information System
Political Reflection, vol.2, no.4, pp.40-43, 2012 (Non Peer-Reviewed Journal)
Baku, the capital city of Azerbaijan, has been examined in this volume. Azerbaijan stands at the crossing point of Western Asia and Eastern Europe. It is a resource-rich country and it is located on very important energy and transportation corridors; so Azerbaijan is one of the most attractive centres for global investors in the Eastern European and South Caucasus Region. Almost all foreign direct investments are made in Baku in the country. Azerbaijan made a fortune and started to extract oil and gas from the Caspian Sea in 1995. After this date, due to revenues coming from oil and gas extraction, the country’s economy started to grow rapidly (the annual average GDP growth of Azerbaijan became 13% between 2000 and 2011). The government of Azerbaijan changed its national economic policy in 2001 and passed from planned-economy to a market-oriented system.