UN General Assembly
1996

relations among States and peoples and threaten the territorial integrity and security of States. Azerbaijan supports the establishment of a specialized international organization to combat terrorism. Azerbaijan attaches crucial importance to the process of integration into the global economic system, and considers it one of the main requisites for the formation of a multidimensional, dynamic market economy and an open democratic society. For this purpose legislation has been adopted to strengthen market economy principles, notably through laws on private property, free enterprise, banking activities, foreign investment protection, and so on. Economic reform in Azerbaijan and the implementation of economic projects are being carried out in active collaboration with the Bretton Woods institutions. Concrete measures have been worked out and are being implemented to shape State economic policy for the transitional period. They include the reform of the monetary and credit system and the development of pricing and tax policies. A three- year programme to privatize State enterprises has been launched. To achieve this goal Azerbaijan actively encourages foreign investment, and has embarked on a