Vugar Oruc: "Valuation Profession in Azerbaijan Enters a New Phase of Importance"

Valuation activity in Azerbaijan is gaining strategic significance and is becoming an essential component of economic and legal processes. This was stated by Vugar Oruc, Chairman of the Azerbaijan Society of Appraisers (ASA), during the society’s 8th reporting and election conference.

According to him, the profession of valuation was once seen merely as a supplementary role for bank employees, but today it has evolved into a vital, independent, and arbitration-oriented field. "In all transactions, contracts, and various legal processes, the involvement of professional appraisers is increasingly necessary," Oruc emphasized.

He noted that recent legislative changes in Azerbaijan have significantly expanded the scope of appraisers’ activities, which contributes to the development of the profession and its growing importance.

Highlighting Azerbaijan’s commitment to cooperation with Turkic states, Oruc pointed out that in May 2024, Baku hosted the 3rd Conference of the Council of Appraisers’ Associations of Turkic States. As a result of the conference, Azerbaijan was entrusted with the leadership of the council.

“This achievement greatly enhances the international standing of the Azerbaijan Society of Appraisers and sets the stage for more active engagement in global cooperation,” he added.







CHOOSE THE COLOR