The prospects and problems of e-commerce in Azerbaijan in the context of globalization

Azerbaijan State University of Economics, Department of Economics, Istiglaliyyat, 6, Baku AZ1001, Azerbaijan

^* Corresponding author: Leyla_Hajiyeva@unec.edu.az

Abstract

Research background: With globalization on the Internet, the economy is gaining a wide range of new opportunities. The economic activity carried out using the latest IT - technologies is effective and profitable. E-commerce is one of the main components of the “new economy", which is gaining increasing practical importance. The effectiveness of electronic commerce is determined by the fact that with this form of trading transaction costs are reduced, i.e. the costs associated with the search and processing of information, negotiating and signing contracts, as a result of which the process of buying and selling and concluding transactions is simplified, opportunities for attracting investments are expanded, and geographical accessibility is improved. Online commerce in Azerbaijan is at the development stage and has broad prospects for further growth.

Purpose of the article: The main goal of the article is to analyze the possibilities of developing online commerce in Azerbaijan and evaluate the factors influencing its development in the context of globalization.

Methods: The author carries out a comparative analysis of the development of online commerce in a number of countries, uses a systematic approach to analyze the main problems that limit the development of e-commerce in Azerbaijan.

Findings & Value added: The article analyzes the main problems limiting the development of online commerce in the country and contain a number of recommendations for the further development of e-commerce in Azerbaijan.