Azerbaijan, Baku / corr Trend I.Khalilova / Sergey Lyalin, the Director General of Cbonds, stated to the Bond Congress of CIS countries on 28 June that Azerbaijan has taken an interesting direction in the securities market. CBonds is an organizer of the event.
At the same time he said that the market for corporate bonds in Azerbaijan is still small compared to other countries and comprises only $50mln.
"The tendency of development of this market in Azerbaijan is being observed," Lyalin noted.
The Bond Congress of CIS Countries is of one of the biggest and the most popular event held by CBonds among participants of the bond markets.
"The Bond Congress of the CIS countries 2007 held for the fourth time. In 2004 the congress was held in Kiev, in 2005 in Almaty and in 2006 in Riga.
The major participants in the conference are traditionally representatives from leading banks, investment companies, emitters from Russia, Baltic countries, Ukraine, Kazakhstan, different CIS countries, as well as European countries. The Congress is of special interests to emitters, considering the opportunities for entry to international credit markets.
The conference mulled the problems and prospects of the security markets of the CIS and Baltic countries, its investment attractiveness and risks. The business schedule of the conference is organized in a way to enable the market participants from different countries to hold exchange of experiences on problems of issue and placement of bonds.
Heydar Babayev, the Azerbaijani Minister for Economic Development, stated to the congress that the Azerbaijani securities differ for their total cost, where they are still behind securities of Russia and Kazakhstan.
"Over three years Azerbaijan has been a world leader for the growth rate of the gross domestic product (GDP), he noted. Per capita GDP increased to $3,000 in the country this year.
Azerbaijan is also a leader for per capita investments, particularly in the oil sector.
" Azerbaijan can play a role as transit corridor not only in the energy sector, but also in financial services. We will do everything possible to enable Azerbaijani banks to get consolidated and have enough capital," he added.