On may 20-21 2004, the IET experts visited the Republic of Azerbaijan, Baku. Meetings with representatives of public authorities and scientific centers of Azerbaijan, the discussion of research and implementation of economic policy and development of the potential of scientific centers of Azerbaijan was the purpose of the visit. A number of discussions on macroeconomics, trade, fiscal and tax policy with representatives of the Center of Economic Reforms, Ministry of Economic Development of Azerbaijan (CER) was held in the framework of the visit. The following CER staff participated in these meetings: R.G. Huseynov, Director of the Center for Economic Reforms; V. A. Rustamov, Deputy Director CER on scientific matters; R.R. Kuliev, Ph.D., head of the Department of Scientific-research Works CER; R.M. Djabiev, doctor of Economics, Professor, the chief researcher of CER; M. M. Mammadov, head of the Department of Marketing and Public Relations of CER. Agreement on long term cooperation, joint research, scientific and advisory activities was reached during the meetings Insufficient development of the mutual exchange of work and information between the scientific centers of the transition economies and in particular the countries of the CIS has been marked among the most serious problems.