The organization was established on 23th of May in 2006 at the Kyiv Summit when the Heads of States signed the Organization’s Charter.
According to the Charter, the GUAM main goals are strengthening of democratic values, ensuring the supremacy of law and respect for human rights; ensuring sustainable development; strengthening international and regional security and stability; deepening European integration for the creation of a common security space and the enlargement of economic and humanitarian cooperation; developing of socio-economic, transport, energy, scientific, technical and humanitarian potential; stimulating of political interaction and practical cooperation in fields of mutual interest.
The endorsement of free trade and transportation zones within the region is considered to be the priority issue. The results of it was discussed in 2007, 18-19 July, when the Supreme Council was held in Baku.
In 2016, 17-18 November the meeting of GUAM’s Working Group on Economy and Trade was organized in Kyiv.
During the meeting of Heads of Governments on 27th of March, 2017 The Protocol on establishment and activity of the Working Body coordinating the actions of the Parties of the Agreement on Establishment of Free Trade Area of 20 July 2002 was signed. The abovementioned protocol was approved by the relevant Order of the President of Azerbaijan Republic.
In 2018 the meetings of the Working Body coordinating the actions of the Parties of the Agreement on Establishment of Free Trade Area were held and the representatives of the Ministry of Economy participated in these meetings.