International Commercial Arbitration in Azerbaijan

This book seeks to critically study the status of International Commercial Arbitration in Azerbaijan in terms of Theory and Practice. After gaining its independence in 1991, Azerbaijan focuses its efforts to establish a competitive free market economy which will support the economic development in all senses. Foreign investors are encouraged to invest in Azerbaijan. The Azerbaijani authorities appreciate that the development and growth of the economy depends on existence of a reliable, sustainable and competitive free market place which will allow the growth of foreign direct investment. Knowing this fact, foreign investors are protected by means of several acts and legislations. These acts protecting the foreign investment and investors; provide fair resolution of disputes in theory. International arbitration is usually trusted and chosen by foreign investors in that sense. Being aware of this; Azerbaijan tailored its legal framework enabling the foreign investors to address their disputes to international arbitration.