Last week review

12 May

•First economic forum took place between Azerbaijan and Bavaria

• Azerbaijan and Iran signed a protocol on transit cargo co-operation

•Technical conditions were prepared to establish service on certification of online signature in Azerbaijan

•National Bank of Azerbaijan gave permission to two new banks, Nakhchivanbank and CP BANK to pass first stage of licensing

•National Bank of Azerbaijan made suggestions to establish a bank in Azerbaijan to finance agrarian production

13 May

•Discussions commenced in Azerbaijan over amendments to tax legislation in 2009

•SOCAR commenced marketing studies in Ukrainian market

•Feasibility study was completed for construction of an oil refinery in Ceyhan

14 May

• Azerbaijan increased own gas supply to Georgia

15 May

•Oil Fund of Azerbaijan announced sale of oil and gas equipment

•Government of Azerbaijan and World Bank signed agreement on additional financing of project on economic development of internally displaced persons

•Russian Breweries Baltika purchased a plant in Azerbaijan

•BP commenced expansion of Baku-Tbilisi-Ceyhan pipeline

16 May

•АВВ Turbochargin station was opened in Baku

•Prices increased for meat in southern region of Azerbaijan

• Azerbaijan and Israel discussed prospects of agricultural co-operation

•14 small-horned livestock was annihilated in Azerbaijani village

17 May

• Azerbaijan significantly increased own gas supply to Georgia

•Azerbaijani delegation left for EBRD annual meeting

•Asian Development Bank mitigated loan conditions

•IFC allocated loan for mortgage and leasing operation of a large Azerbaijani bank