This is the 5th annual study introducing the business climate in Azerbaijan from the perspective of European companies. The strong focus of the report is devoted to the progress in implementing the economic reforms taking place in the country since 2016 aiming to diversify the local economy by enhancing non-oil sectors and strengthening small and medium sized enterprises (SMEs).

The anonymous online survey was held during September and October 2020 aiming to study the views of European companies about local business climate in 2020. The target group for the EU Business Climate Survey 2020 remained the same as per previous years and included around 400 European companies working in Azerbaijan, namely representatives of the EU and EFTA countries, the UK as well as Azerbaijani companies, whose main focus of business operations is related to cooperation with the EU. As a result, 187 responses were obtained and after the quality check 123 responses were approved and included into the sample.