...

Last week review (Feb. 20-24)

Analysis Materials 27 February 2017 16:38 (UTC +04:00)

Feb. 21

ICD attracting Chinese investors to Azerbaijani free trade zone

The Islamic Corporation for the Development of the Private Sector (ICD) and Baku International Sea Trade Port held the first meeting with potential investors in order to attract them to the free trade zone in the Alat township of Baku’s Garadagh district, a source on Azerbaijan’s financial market said.

The meeting was held in Beijing in mid-February, said the source.

“The ICD has started the implementation of a memorandum signed in late 2016 with the Baku International Sea Trade Port and this meeting is the first result of this work. Representatives of the Islamic corporation and Baku port met with participants of China’s financial market, particularly, with representatives of banks and investment funds, as well as IT and trade companies,” noted the source.

The source added that the parties are interested in cooperation, thus, it is expected that the negotiations will start soon in order to determine the framework of potential cooperation with Chinese investors.

Another agropark may appear in Azerbaijan’s Shamkir

Azerbaijan’s National Fund for Entrepreneurship Support has started to receive investment projects on priority spheres of Shamkir district’s development, according to the Economy Ministry.

After a business forum held in Shamkir district, the Fund considered it reasonable to accept proposals of entrepreneurs to finance investment projects on creation of an agricultural park, warehouses for storing potatoes and onions, a mill, a complex for the production of dried fruits, a greenhouse, as well as vineyards and potato-growing farms.

One agricultural park is already operating in Shamkir district.

Azerbaijani trade house registered in Belarus

Minsk City Executive Committee registered Azerbaijan Trade House CJSC, said Azerbaijan’s Economy Ministry in a message.

The trading house will support the promotion of Azerbaijani goods under the ‘Made in Azerbaijan’ brand in Belarus, marketing research, participation in exhibitions and other activities related to the promotion of Azerbaijani goods.

Feb. 22

Ilham Aliyev receives US delegation

President of the Republic of Azerbaijan Ilham Aliyev received a US delegation led by Deputy Assistant Secretary for Energy Diplomacy in the Department of State’s Bureau of Energy Resources Robin Dunnigan.

Stressing the importance of these meetings in terms of practical discussions, the head of state hailed this as a sign of successful execution of the project.

The head of state said a lot has been done so far, adding that the project is approaching its final phase.

Ilham Aliyev receives Japan’s state minister Matsumura

President of the Republic of Azerbaijan Ilham Aliyev received a Japanese delegation led by State Minister of Economy, Trade and Industry Yoshifumi Matsumura.

They also discussed the development of cooperation between Azerbaijan and Japan on various fronts, including non-oil sector, industry, agriculture, healthcare, human resources, delivery of technologies to the new industrial areas and investment making.

Azerbaijan’s SOCAR, Japan’s Itochu ink co-op MoU

Azerbaijan’s state oil company SOCAR and Japan’s Itochu Oil Exploration Co., Ltd. signed a memorandum of understanding on scientific and technical cooperation, said a message on SOCAR website.

According to the message, the MoU was signed during a meeting with the Japanese delegation which arrived in Baku to participate in the ninth meeting of the Azerbaijan-Japan Economic Cooperation Committee.

SGC to be expanded through extra interconnectors

The Southern Gas Corridor (SGC) project will be significantly expanded through the construction of additional interconnectors in Europe, said Bulgarian Energy Minister Nikolay Pavlov.

He made the remarks at a meeting with his Azerbaijani counterpart Natig Aliyev in Baku, reads a message from Azerbaijan’s Energy Ministry.

“Timely implementation of the Southern Gas Corridor project to a large extent depends on the relations between the cooperating countries. Bulgaria’s position in this project is very important,” Aliyev said, adding that the Interconnector Greece-Bulgaria (IGB) will expand geography of transportation of the Azerbaijani gas.

“Besides, it is planned to start the construction of the Bulgaria-Serbia Interconnector before May 2019 and commission it before late 2020. Thus, significant expansion of the Southern Gas Corridor will be ensured with help of the gas from Azerbaijan’s Absheron field and others, as well as with help of additional gas interconnectors,” Pavlov said.

The parties also exchanged views on the Balkan gas storage facility project, as well as Azerbaijan's participation in the Bulgarian oil products market.

Feb. 23

Ilham Aliyev meets with European Commission VP

President of the Republic of Azerbaijan Ilham Aliyev met with European Commission Vice-President for Energy Union Maros Sefcovic.

Azerbaijan`s expanding the use of alternative energy sources was emphasized, and the possibility for the country to benefit from the European Union`s experience was pointed out at the meeting.

President Aliyev and Sefcovic also discussed prospects for Azerbaijan-European Commission cooperation in energy area, as well as in using transport corridors and Baku-Tbilisi-Kars railway.

Ilham Aliyev meets with Turkish minister

President of the Republic of Azerbaijan Ilham Aliyev met with Minister of Energy and Natural Resources of the Republic of Turkey Berat Albayrak.

Ilham Aliyev: SGC – issue of energy security and energy security is national security of countries

Baku hosted the third meeting of the Advisory Council of the Southern Gas Corridor (SGC). Azerbaijani President Ilham Aliyev attended the meeting.

Energy ministers and representatives of various organizations of the Southern Gas Corridor member-states, including European Commission Vice President for Energy Union Maros Sefcovic attended the event.

Azerbaijan determines priority areas of cooperation with Italy

Azerbaijan is interested in cooperation with Italy in industry, agriculture, pharmaceutics, ICT and tourism, Niyazi Safarov, Azerbaijani deputy economy minister, told reporters on the sidelines of the Azerbaijan-Italy business forum in Baku. The Azerbaijan-Italy business forum kicked off in Baku. The representatives of around 20 Italian companies attended the business-forum.

Ilham Aliyev receives delegation led by Turkish minister

President of the Republic of Azerbaijan Ilham Aliyev received a Turkish delegation led by Minister of Food, Agriculture and Livestock Faruk Celik.

Ilham Aliyev meets with Italy’s economic development minister

President of the Republic of Azerbaijan Ilham Aliyev met with Minister of Economic Development of the Italian Republic Carlo Calenda. President Aliyev and Calenda discussed prospects for Azerbaijan-Italy cooperation in various areas, including energy and agriculture.

Feb. 24

Azerbaijan, Iran officials review hydroelectric plants’ construction

Officials from Azerbaijan and Iran reviewed the implementation of a project to construct the Khudaferin and Giz Galasi hydroelectric facilities on the Araz River on the Iranian side.

Azerbaijani delegation was headed by Economy Minister Shahin Mustafayev, who co-chairs the Azerbaijan-Iran State Commission for Economic, Trade and Humanitarian Cooperation, the Economy Ministry said.

Iranian delegation was headed by Communications and Information Technology Minister Mahmoud Vaezi, also a co-chair of the Commission.

Feb. 25

Fitch: Azerbaijan’s public finances stronger than ‘BB’ rated peers

Azerbaijan’s public finances are stronger than ‘BB’ rated peers and surprised on the positive side in 2016, said a report of the international ratings agency Fitch Ratings posted on its website.

Fitch Ratings has affirmed Azerbaijan’s Long-Term Foreign and Local-Currency Issuer Default Ratings (IDR) at ‘BB+’. The issue rating on Azerbaijan's senior unsecured foreign-currency bond has also been affirmed at ‘BB+’.

The Country Ceiling has been affirmed at ‘BB+’. The Short-Term Foreign and Local-Currency IDRs have been affirmed at ‘B’.

Azerbaijan’s ‘BB+’ ratings balance a strong external balance sheet and low government debt, say Fitch experts.

Tags:
Latest

Latest