State Committee: Turnover of Baku Stock Exchange increased by 96 times over 10 years

State Committee: Turnover of Baku Stock Exchange increased by 96 times over 10 years

Azerbaijan, Baku, May 29 / Trend I.Khalilova /

Over the past ten years [amid growth of Azerbaijan's economy by four times] turnover of Baku Stock Exchange (BSE) increased by 96 times, reaching 16.8 percent of GDP compared to 1.7 per cent, chairman of the State Securities Committee (SSC) Rufat Aslanli said in an interview with the official website of the ruling New Azerbaijan party.

"Today a variety of financial instruments (depending on the types, the timing and the base assets) are offered on the market of securities, in accordance with the requirements of economic actors," Aslanli said. "Trade with these tools has allowed to form on the market the category of active investors, and has created opportunities for investment in the Azerbaijani financial instruments by foreign investors."

During this period, he said, there was a major development, however, we can not say that the growth potential of the capital market has run out.

"Our challenge, as in all sectors of the economy and capital markets, along with the quantitative growth is to achieve significant quality growth," the head of the SSC said. The institutional environment on the securities market, the operating infrastructure, legal framework and management capacity must reach a new level of quality, fully meet the standards of developed countries. Ambitious goals confronting us require this.

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