Nov. 11
Azerbaijan, Greece discuss DESFA privatization
SOCAR (State Oil Company of Azerbaijan) and the Greek government discussed the acquisition of 66 percent of the equity of the Greek gas transmission operator DESFA by the State Oil Company.
The issue was discussed during the visit of the head of SOCAR Rovnag Abdullayev to Greece and his meeting with the prime minister of the country Antonis Samaras.
Next round of negotiations on Azerbaijan's accession to WTO postponed to 2015
Secretariat of the World Trade Organization has moved the dates of the multilateral and bilateral negotiations on the accession of Azerbaijan to the organization into the first quarter of 2015, the Chief Negotiator, the Deputy Foreign Minister Mahmud Mammadguliyev said.
A meeting with the WTO working group was to be held roughly in late November - early December 2014.
"Terms of the transfer of the regular round of negotiations are due to a busy schedule at the Secretariat of the World Organization by the end of the year, which can also be attributed to the expected accession of Kazakhstan to the WTO [planned before the end of 2014]," said the deputy minister.
Nov. 12
Azerbaijani IT companies to present on EU markets
Hungarian DBH Group will help to establish investment opportunities and also to support startup companies expand internationally in both Europe and the Caucasus according to the two memoranda signed during the Hungarian-Azerbaijani Business Forum, the High Tech Park under the Azerbaijani Ministry of Communication and High Technologies said.
Hungarian investment and business services company DBH Group signed two memoranda of understanding with State Fund for Development of Information Technologies in Azerbaijan (ICT Fund) and High Tech Park Azerbaijan (HTP) in Budapest.
According to the memoranda of understanding parties shall cooperate to establish investment opportunities, facilitate the development of Azerbaijani startups and innovative IT and tech enterprises, and also to support startup companies expand internationally by setting up branches of EU-based companies in Azerbaijan and Azerbaijani startups in the EU.
Nov. 13
Azerbaijani, Iranian presidents attend business forum in Baku
The Azerbaijan-Iran Business Forum was held in the Heydar Aliyev Center in Baku.
Azerbaijani President Ilham Aliyev and Iranian President Hassan Rouhani attended the even.
The presidents addressed the forum participants.
Nov. 14
International Bank of Azerbaijan, Eximbank of Russia sign cooperation agreement
International Bank of Azerbaijan and Eximbank of Russia signed an agreement on cooperation in the foreign-economic field.
The document was signed by IBA Chairman of Board Jahangir Hajiyev and Chairman of Board of Eximbank of Russia Dmitry Golovanov.
The document was signed as part of the seventh International Banking Conference of the CIS member-states in Baku.
"One of the key positions of this agreement is an opportunity of using the national currencies in our joint work," Golovanov said. "The foreign trade calculations in rubles and manats, particularly in the current circumstances, will positively affect the development of the trade-economic and political relations between Azerbaijan and Russia. Of course, this will reduce the currency and political risks for banks and exporters while conducting the export operations from Russia to Azerbaijan and from Azerbaijan to Russia. This agreement opens up new opportunities for exporters of Russia and Azerbaijan. It will be easier for them to enter the markets of both countries."
Nov. 15
Azerbaijan's largest bank starts Islamic financing in Russia
International Bank of Azerbaijan OJSC will provide services on Islamic financing in Russia, said the director of the Department of Islamic Banking of the International Bank of Azerbaijan (IBA) Behnam Gurbanzade during VII Baku International Banking Conference of CIS member states.
"IBA Board decided to open an alternative banking department in the subsidiary bank in Moscow," he said. "This department will work within the framework of the IBA-Moscow Bank and develop Islamic financing."
President Ilham Aliyev attended the opening of Shamkirchay water reservoir
President of the Republic of Azerbaijan Ilham Aliyev attended the opening of Shamkirchay water reservoir and a hydroelectric power station.
The head of state launched the hydroelectric power station and Shamkir water reservoir.
President Ilham Aliyev attended a ceremony to lay the foundation of Shamkir Agropark
President of the Republic of Azerbaijan Ilham Aliyev attended a ceremony to lay the foundation stone for Shamkir Agropark.
It was noted that the agropark, the first of its kind in Azerbaijan, will occupy an area of 543 hectares.
President Ilham Aliyev attended the opening of a bread factory in Shamkir
President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of a bread factory as part of his visit to Shamkir.
The facility will initially produce 15 types of bread. Production process is fully automated here. The factory will have 15 stores. The facility provides nearly 100 jobs.