Azerbaijan, Baku / Trend , corr. I. Khalilova / Emil Madjidov, the President of AZPROMO (Azerbaijan Export and Investments Encouragement Fund) has said that the Fund establishes an activity in paying membership fees by the members of the Trust Council in 2007. "This year, more than the half of the trustees automatically paid their membership fees following notifying them," said Mr. Madjidov.
Some 60 permanent members out of the total existing 92 ones should pay constantly their membership fees. Only state bodies have been released from these dues. Members of the Council have been divided by the two following groups - permanent members and honourary guests. Representatives of the private sector and the Government enter the team of the permanent members of the Trustee Council. They have the right to vote and express their opinion, as well as other rules coming from the Charter of the Fund. The honourary guests, which representatives of different international financial institutions are referred to, can only give a speech, but not vote.
According to Mr. Madjidov, to date, it is just the state, which finances AZPROMO on 50 %, with 30 % falling at businessmen and 20 % - on international organizations. "The expenditures are carried out from the common budget of the Fund. Most part of the funds is intended for different trainings and studying the corresponding international experience, as well as paying the wages to the employees," concluded the Head of AZPROMO.