April 17
Ilham Aliyev chairs republican conference of non-oil exporters
President of Azerbaijan Ilham Aliyev has chaired a republican conference of non-oil exporters in the country’s Yevlakh district. The head of state made an opening speech at the event.
Co-op of railway structures of ECO countries mulled in Baku
Baku is hosting the 13th meeting of the heads of the railway structures of the member-states of the Economic Cooperation Organization (ECO).
At the same time, Baku is also hosting the 7th meeting of the Railway Committee of the ECO Transit Transport Council and the 3rd meeting of the ECO high-level working group on the Gazvin-Rasht-Astara (Iran)-Astara (Azerbaijan) railway project.
The representatives of Azerbaijan, Turkey, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Pakistan, Iran, China, as well as the Islamic Development Bank, the Intergovernmental Organization for International Carriage by Rail, the United Nations Economic Commission for Europe, the Economic and Social Commission for Asia and the Pacific and the ECO Trade and Development Bank are attending the meetings.
WB signs $33-million contract within JSSIP project in Azerbaijan
The World Bank (WB) and the BestComp Group have signed a contract on the delivery, installation and maintenance of IT equipment for main and reserve DATA-centers as part of the Judicial Services and Smart Infrastructure Project (JSSIP) in Azerbaijan, the bank said.
The contract’s cost is almost $33 million.
April 18
Azerbaijan’s Caspian Development Bank, AtaBank to merge
Azerbaijan’s Caspian Development Bank OJSC will be liquidated due to reorganization and merge with the country’s AtaBank OJSC, said the message posted on the website of AtaBank OJSC.
“PwC multinational accounting firm was attracted to evaluate the assets of Caspian Development Bank OJSC and AtaBank OJSC due to their reorganization, and an initial agreement was reached with this firm,” the message said.
At the same time, both banks, until their merger is officially registered, will continue to perform their duties under civil contracts concluded with all counterparties, separately.
April 19
WB signs two contracts as part of IDP project in Azerbaijan
The World Bank (WB) concluded two contracts totaling $4.6 million as part of the IDP Living Standards and Livelihoods Project in Azerbaijan, WB said.
The first contract worth $2.1 million was concluded with the Ganja Regional Economic Consulting Center and the TAMAS Regional Development Public Union.
The contract envisages consulting work on the implementation of the youth support program. The contract is valid for three years.
The second contract worth $2.5 million was signed with the Azerbaijan Gender Information Center NGO, ASR Consulting and Research Group LCC and the Azerbaijan Community Development Research, Training and Resource Center.
The contract envisages rendering consulting services for the implementation of the program to increase the income of internally displaced people.
Head of Azerbaijan’s first private credit bureau appointed
Elchin Ahmadov was appointed as executive director of the company Creditinfo Azerbaijan, which will become a manager of Azerbaijan’s first private credit bureau, said CEO of Creditinfo Group Reynir Gretarsson. He was addressing an event in Baku dedicated to the establishment of the first private credit bureau in Azerbaijan.
Gretarsson noted that the company's Board of Directors includes nine members.
He said the credit bureau will receive information not only from banks but also insurance and leasing companies, mobile operators and others.
At the moment, 21 organizations are in the list of the credit bureau founders. These are 19 banks, one insurance company and one non-bank credit organization. The list of founders also includes a technical partner – the Creditinfo company, which owns 51 percent of the bureau’s shares.
Azerbaijani goods spreading in UAE supermarkets
A delegation of Azerbaijani entrepreneurs led by Economy Minister Shahin Mustafayev that is on a visit in the United Arab Emirates (UAE), has had a meeting with the management of DP World company, said the Azerbaijani Economy Ministry.
During the meeting, the Azerbaijani delegation was informed about the work carried out by the DP World Group in the Free Trade Zone (FTZ) in the Alat township of Baku’s Garadagh district. The sides discussed the general plan on construction of industrial and logistics infrastructure, development concept of the free trade zone and other issues.
The Azerbaijani delegation also met with the management of VPS Healthcare company.
Moreover, a business forum, which was attended by entrepreneurs of Azerbaijan and the UAE operating in the spheres of industry, agriculture, construction, finance, tourism and others, was also held.
April 21
Azerbaijan ready to open trading house in UAE: minister
Azerbaijan is ready to open a trading house in the UAE and appoint a trade representative there, Azerbaijani Economy Minister Shahin Mustafayev said at the 6th meeting of the Azerbaijan-UAE intergovernmental commission for trade, economic and technical cooperation in Dubai, reads a message of Azerbaijan’s Economy Ministry.
Speaking about trade relations between the two countries, Mustafayev noted that Azerbaijan can supply a number of agricultural products to the UAE – hazelnuts, tomatoes, persimmons, apples, sour and sweet cherries, cucumbers, tobacco, chocolate, grapes and others – as well as industrial products – aluminum plates, pipes and other goods.
In turn, UAE Economy Minister Sultan bin Saeed Al Mansoori supported the idea of exporting Azerbaijani products to his country and noted that he would also support the opening of Azerbaijan’s trading house in the UAE and the appointment of a trade representative.
After the meeting, the two sides signed a protocol that provides for expansion of cooperation in communications and high technologies, alternative energy, industry, culture, tourism, transportation, trade, investments, agriculture, environment and other areas.