The concept of trade is one of the basic principles of international economic relations and economic development. Over time, various views have been put forward on the regulation of trade. Well-known economists and researchers believe that free trade, in addition to improving international relations, has a positive impact on the country and the world economy. It is from the middle of the 20th century that the role of trade in the world economy has increased. The establishment of the General Agreement on Tariffs and Trade and its subsequent replacement by the World Trade Organization has repeatedly increased global trade, had a positive impact on regional development and diversification of production. However, given that each country's economic model, level of development, and resources are different, trade liberalization may affect each country differently. In this article, we will analyze research conducted in different countries, and then discuss the steps taken to liberalize trade in Azerbaijan, the impact on the non-oil sector and its consequences.