Political and economic stability

Other substantial comparative advantages of doing business in Azerbaijan include such important factors as macroeconomic and political stability, in addition to Baku's reputation as being the only metropolitan capital on the Caspian Sea. Azerbaijan is one of the leading economies globally in terms of economic growth. A record GDP growth was observed in 2006 accounting for 34.5%. That was the highest performance in the world. Even in a period of global financial turmoil, Azerbaijan managed to maintain high economic growth rates. As a result, Azerbaijan's economy grew threefold in the past 10 years. Macroeconomic stability in Azerbaijan is considered as the 18th performance in the world according to the Global Competitiveness Report 2012-2013.