TRADE AND ECONOMIC RELATIONS OF THE REPUBLIC OF AZERBAIJAN WITH THE BALTIC STATES

Abstract The contemporary phase of global economic development is characterized by heightened trade liberalization and the acceleration of regional integration processes. The necessity of removing obstacles to interstate trade relations, in conjunction with the aspiration to expand and deepen integration processes, motivates countries from diverse regions to engage in partnership trade agreements. Since 2000, trade and economic relations between Azerbaijan and European Union member countries have gradually improved. The volume of economic and trade relations between Azerbaijan and the Baltic countries, in general, depends on various economic factors. These include the prices of energy resources, the goods that are exported and imported, and the economic capabilities of the individual countries. Currently, Azerbaijan's exports to the Baltic countries exceed imports of European products, primarily due to the substantial volumes of natural gas, oil, and petroleum products supplied.