Azerbaijan, Baku / Trend / Largest international corporation of Citigroup has intentions to open a representative office in Azerbaijan, according to the Azerbaijani Economic Development Ministry.
The wish to open a representative office in Azerbaijan was voiced by the chief manager of Citigroup, Winfred Bishof, at the meeting with Azerbaijani Minister for Economic Development, Heydar Babayev.
Babayev noted that Azerbaijan would provide for all conditions necessary for opening of the representative office and for further cooperation.
The delegation of Citigroup also included the chief manager on Turkey, Israel, and CIS countries, Steve Bideshy, the director of the department group on state operations, Guy Harrington, and the Vice-President of Istanbul office, Dilek Demir.
The Minister said that attractive investment environment in Azerbaijan was profitable for investment companies.
Some 70% ($26.6bln) of the investments invested into economy of Azerbaijan ($37.7bln) are foreign investments.
Citigroup is one of the world leaders in the field of finance services and is the most lucrative financial organizations in the world. Citigroup was founded on 7 April, 1998 as a result of merging of Citicorp and Travelers Group. The bank manages assets of US $1.9 trillion. Citigroup is the primary dealer of securities of the US Treasury.