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Another investment forum as part of TRACECA canceled

Business Materials 9 January 2015 14:12 (UTC +04:00)

Baku, Azerbaijan, Jan. 9

By Emil Ismayilov - Trend:

The European Commission considered it inappropriate to conduct another [third] investment forum in 2015 as part of the TRACECA (Europe-Caucasus-Asia) international transport cooperation program, TRACECA National Secretary from Azerbaijan Akif Mustafayev told Trend Jan. 8.

The main purpose of the investment forums is to attract investors to participate in the projects implemented in the TRACECA member-states.

Mustafayev said the exact timing of the next investment forum was not disclosed. The European Commission decided to abandon its holding.

"TRACECA Investment Forum was canceled because its holding at this stage was considered inappropriate," Mustafayev said.

"This is explained by a lack of a sufficient number of project proposals from the TRACECA member-states, as well as the implementation of a successful independent investment policy of a number of countries," he said.

Earlier, two investment forums were held in Brussels with the EU support as part of TRACECA in 2011 and 2012, where the member-states presented their investment transport projects.

In 2013, the Azerbaijani segment of the corridor transported 59 million metric tons of cargo or 3.8 percent more than in 2012. Some 285.2 million people were transported within the corridor last year or 9.3 percent more than in 2012.

The revenues from transportation of goods within the corridor in 2013 amounted to 476.4 million AZN or 7.5 percent more than in 2012. The revenues from passenger transportation last year amounted to 106.5 million AZN, which is 15.8 percent more than in 2012.

TRACECA is an international cooperation program in the field of transport between the EU and partner countries in Eastern Europe, South Caucasus and Central Asia. The organization has a permanent secretariat in Baku.

TRACECA member states are Azerbaijan, Bulgaria, Georgia, Kazakhstan, Kyrgyzstan, Armenia, Moldova, Romania, Tajikistan, Turkey, Turkmenistan, Ukraine, and Iran.

The official exchange rate is 0.7844 AZN/USD Jan. 9.

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Edited by CN

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