Dilgam ismailov

th
year our national currency - manat was 
declared legal payment in the country. Agreements were signed 
with the International Monetary Fund and World Bank. 
Azerbaijan joined European Reconstruction and Develop-
ment Bank. 
İn 1995 inflation reduced sharply.
In 1998 completely had stopped. The exchange rate of 
manat (compare with usd) has increased. In accordance with 

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the program of privatization of state property 1995-1997 years 
20 thousand small state enterprises have been privatized. The 
lack of sufficient funds in order to attract foreign capital has 
passed “an open door policy”. The customs duty was reduced. 
In 1994 April was decreed on liberalization of foreign trade. 
The foreign economic relations have been liberalized. In the 
Republic dozens of new industrial enterprises were launched. 
1994-1995 years at the oil refinery plants 2 new Alow-2 
devices started to work. 
İn Sumgait and Dashkesan some 
plants again were started. In 2000 Yenikend-Shamkir 
hydroelectric power station was put into operation. 
March 1995 was created the state commission on 
agrarian reform. On 16 June 1996 has accepted the law on 
land reform. According to this law unlike other countries of all of 
the land potsoviet citizens living in the village was free of private 
property. On the basis of the common land fund were determined 3 
kinds of properties - state, municipal and the form of private 
land ownership. In 1996 July were created agricultural credit 
cashboxes. In Republic 3.5 million citizens received share of land. 
October in 1996 “the law on paid usage of water” created an op-
portunity for improving irrigation service. As a result of all of them, 
there were also improvements in the agricultural sector.
Azerbaijani more than 100 countries were kept commercial 
links. Since 2002 the ones who are important in public service 
was given a Presidential scholarship. The conflict of 
Nagorno-Karabakh solving by peacefully state independence 
and the strengthening the sovereignty of Azerbaijan consistent 
and effective foreign policy pursued by President Heydar 
Aliyev was the main line. Only 1993-1998 years for this 
purpose President had visited 33 countries 79 trips and signed 

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431 international documents with Azerbaijan and foreign countries. 
As a result of Azerbaijan's foreign policy with our Republic and 
among the countries with the most developed country in the world 
are created equal, friendly and cooperative relations.
With Turkey an important place in Azerbaijan's foreign 
policy was dominated by the all-round cooperation. Islamic