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Last week review (Sept. 21-25)

Analysis Materials 30 September 2015 10:25 (UTC +04:00)

Sept. 22

Baku, Canberra discuss direct flight initiating

A delegation of the Azerbaijani-Australian working group on inter-parliamentary relations led by Azerbaijani MP Khanlar Fatiyev met with Mayor of Perth Lisa Scaffidi in Australia.

During the meeting they discussed the trade and economic cooperation issues, organizing of joint business forums to attract investments.

During the meeting, Scaffidi supported an initiative voiced by Australian Minister for Trade Andrew Robb, the advisability of initiating an Azerbaijan-Australia direct flight to develop the bilateral relations and business ties.

ADB retains its economic growth forecast in Azerbaijan

The Asian Development Bank has kept its forecast for economic growth in Azerbaijan in 2015 at a level of 3 percent, said the updated Asian Development Outlook report of the ADB. The previous report was published in March 2015.

The bank has kept the forecasts on other economic parameters at the same level. So, in 2015 GDP, as it was expected, will grow by 3 percent and in 2016 by 2.8 percent.

The ADB emphasized that the economy rebounded with robust growth of 5.7 percent in the first half of 2015, up from 2.1 percent in the same period in 2014.

"The public investment program remains a key source of economic expansion and employment, but budget revenues are under pressure from lower oil prices," said the analysts of the ADB.

Azerbaijan, Argentina sign agreement on technical cooperation

Azerbaijan and Argentina signed an agreement on technical cooperation, the Azerbaijani Ministry of Economy and Industry said. The document was signed by Azerbaijani Minister of Economy and Industry Shahin Mustafayev and Deputy Minister of Foreign Affairs, International Trade and Worship of Argentina Eduardo Zuain, on a visit to Baku.

Mustafayev said the two countries have broad opportunities for cooperation in the fields of agriculture, pharmaceuticals, and petrochemicals.

Sept. 23

President Aliyev: Azerbaijan's role as gas supplier to grow

President of the Republic of Azerbaijan Ilham Aliyev received a delegation led by Chief Executive Officer of Italy`s Snam Company Carlo Malacarne.

Saying the Southern Gas Corridor is a very important project for all sides, President Aliyev noted that Azerbaijan plays a leading role on this front. During the meeting, the sides exchanged views on the issues related to prospects of cooperation with Italian Snam Company.

Azerbaijan joins INTOSAI working group on public debt

The Azerbaijani Accounting Chamber became a full member of the Working Group on the Public Debt of the International Organization of Supreme Audit Institutions (INTOSAI), the accounting chamber said.

INTOSAI Working Group on Public Debt Control was created in 1991. At present, its members are Mexico, USA, Argentina, Austria, Brazil, Bulgaria, Chile, China, Fiji, Finland, India, Indonesia, Jordan, Egypt, Lithuania, Republic of Korea, Moldova, Portugal, Gabon, Romania, Russia, Sweden, Ukraine, Yemen and Zambia.

The working group defines the main issues for the preparation of procedures and obligations in connection with the audit and evaluation of state debt obligations. It is engaged in the exchange of experience with the research groups, international organizations and similar bodies of other countries involved in public debt, and so on.

France interested in Azerbaijani investments

Azerbaijan is an economically developed country with great potential, French ambassador to Azerbaijan Pascal Monnier said at a press conference organized by Business France agency within Invest in France.

"We have chosen 50 countries, including Azerbaijan, to attract investments from these countries to France," he said. "France has well- established infrastructure with all of Europe. This is an industrial country that attracts foreign investments from around the world. We are creating favorable conditions for foreign investors. All this can help to attract Azerbaijani investments in France."

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