Seventeen major international operators are now involved in nine PSA-s in the Azerbaijanian sector of the Caspian. Foreign investment climate in Azerbaijan is very tolerant and conducive to inflow of capital. The Law on Investment Activities of January 1995 ensures equal protection to all investors regardless of nationality. The payments system in Azerbaijan is fairly liberal. The government maintains a flexible exchange rate regime, with the official rate determined by auctions of non-cash foreign exchange in the Baku Interbank Currency Exchange.
Manat is fully convertible currency.
Resident and non-resident individuals or enterprises may freely open foreign currency accounts at banks in Azerbaijan. There are no restrictions on the repatriation of foreign exchange by non-residents. Trade liberalization has been completed in Azerbaijan. On the export side, quotas were removed and export contract registration scheme was abolished in 1995. On the import side, quantitative restrictions and licenses have been removed and currently these are only subject to customs duties.