Unfolding the potential of economic interaction among NAM members

Since the assumption of the chairmanship by Azerbaijan, the relevance of the NAM in the modern world has been increasing. This tendency should be continued in order to make the Movement better fitted to the post-Cold War era. As geopolitical tensions between the two major blocks have ended, it is time to focus on the other vital issues on NAM’s agenda, such as promoting economic development. Indeed,several attempts to facilitate trade and investment among member countries were made previously but, because businesses were excluded from the process, these initiatives were doomed to failure. This paper tries to unravel the potential for economic interaction among NAM members. An analysis of the structural framework of the Movement concludes that, despite the mandate given by the heads of state or government, currently there is no successful initiative or permanent structure that can stimulate trade and investment. Research into the economic situation and business environment of NAM countries shows great prospects for co-operation,and the NAM can provide a platform for facilitating such co-operation. By organizing a business meeting for the Movement, businesses will get an opportunity to learn about the demands, opportunities, and regulatory environments of the 120 Member countries and to build interactions with their counterparts.

Authors: Mahammad Ibrahimov