CEIBC member companies meet with chairman of Azerbaijani parliament’s economic policy committee

CEIBC member companies meet with chairman of Azerbaijani parliament’s economic policy committee

Baku, Azerbaijan, Nov. 27


The member companies of the Caspian-European Club (CEIBC) met with the Chairman of the Committee for the Economic Policy of Azerbaijani Milli Majlis (parliament) Ziyad Samadzade in Baku on Nov. 27, the CEIBC message said.

Prospects of development of the economy and legislative initiatives on development of the private entrepreneurship in Azerbaijan were discussed at the meeting.

Addressing the session Ziyad Samadzade noted that arrangement of such meetings indicates the creation of all conditions in Azerbaijan for free discussion of issues concerning the economic development and solution of problems in this area.

"Azerbaijan is building a democratic society and the club is highly contributing to its development in Azerbaijan," Samadzade said.

At the meetings held within the framework of the club, he said that government officials, public figures and entrepreneurs speak about their achievements in areas they represent. According to Samadzade, a public opinion is expressed and considered at CEIBC events, which in its turn results in making of timely and efficient decisions. He spoke about how Azerbaijan developed over the past 10 years and emphasized that the country had managed to create a new economic system over the independence period. According to Samadzade, today 80 per cent of the economy is developing in the private sector.

"The figures show that Azerbaijan's budget grew by 17 times over 10 years," Samadzade said.

He also noted that Azerbaijan's GDP would grow twice as much by 2020 and it is the non-oil sector that would ensure this growth. According to Samadzade, the transfer from the Oil fund to the state budget will be reduced by 2 billion manats in 2014, which in its turn is a historical event.

Addressing the session, Chief Executive Officer of the Caspian-European Club (CEIBC) Telman Aliyev noted that CEIBC had announced about re-branding. The name of the club and logo has been changed. From now on, the Club will be named the Caspian-European Club. Meanwhile, the CEIBC abbreviation has been preserved. Telman Aliyev provided full information about CEIBC.

According to Telman Aliyev, CEIBC was established in June 2002 in association with Caspian Energy International Media Group and under intensive support of largest oil and gas companies operating in the Caspian-Black Sea region. Ilham Aliyev, President of the Republic of Azerbaijan, has been a chairman of CEIBC. According to Telman Aliyev, CEIBC promotes attraction of oil sector revenues into development of the non-oil sector. CEIBC is operating in 50 countries worldwide, carrying out an active work in support of the dialogue between government agencies and the private sector.

Academician Ziyad Samadzade, the Chairman of the Committee for Economic Policy of Milli Majlis of the Republic of Azerbaijan has been presented a CEIBC honorary membership certificate. The certificates were also given to new CEIBC member companies. Ziyad Samadzade presented a "Big economic encyclopedia" consisting of 5 volumes and created, for the first time in the CIS, under his supervision.

Executives of companies and representatives of diplomatic agencies accredited in Azerbaijan took part in CEIBC meeting.

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