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First Joint International Banking Conference in Baku

Business Materials 21 November 2007 16:19 (UTC +04:00)

Azerbaijan, Baku / corr Trend I.Khalilova / The Caspian and Caucasus International Bank Conferences and Exhibitions have been united, the company Iteca Caspian, an organizer of the event, said on 20 November. From now on it will be held as Caspian International Conference and Exhibition "Banking & Finance" and the first after the unification - the fifth jubilee event be held in Baku 8-9 April 2008.

The Caucasus Bank Conference brought together the countries of the South Caucasus, and the Caspian covered many countries, which necessitated a decision on an increase of its status.

The program of the conference includes review of banking and financial systems of the Caspian region and CIS countries, new technologies in the development of the banking sector, international and interregional banking and finance relations of the Caspian region, capital markets, the current situation and perspectives of further development, insurance and leasing in the Caspian region and CIS countries, mortgages: new opportunities in Azerbaijan and other regions.

The jubilee conference is being held in Azerbaijan, because it is a leader in the region for general economic indices and amount of foreign investment. The trade and investment publication UNKTAD recognized Azerbaijan as the number one country in the world for index of direct foreign investments inflow. In 1995 - 2006 investments in the Azerbaijani economy totaled to $367bln ($6.7bln of them in 2006). Specific weight of foreign investments comprised 54.2%. International financial organizations, including the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), the World Bank (WB), the International Monetary Fund (IMF), the Islamic Development Bank (IDB), the Black Sea Bank for Trade and Development (BCTD) actively finance big projects in Azerbaijan.

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