Warsaw Stock Exchange Provides Azerbaijan Assistance in Establishment of Exchange Index

Business Materials 15 August 2007 16:49 (UTC +04:00)

Azerbaijan, Baku / Trend corr I. Khalilova / The Warsaw Stock Exchange (WSE) has begun to provide technical assistance to the Baku Stock Exchange (BSE) in the establishment of an exchange index for Azerbaijan, BSE's Chairman of the Board, Khayal Abdinov reported on 15 August.

According to Abdinov, the experts of the WSE visited Baku in August and held a workshop for BSE employees in order to familiarize them with world practices in index composing. He informed them of European and American indexes. Moreover, Polish experts studied the opportunities of the Azerbaijani stock market for further assistance in index composing.

"In accordance with world practices, the index for Azerbaijan will probably also be composed of stocks, but the final decision has not yet been made," Abdinov said.

Partner relationships between the WSE and BSE began in June 2007 as a result of signing a memorandum on long-tern cooperation.

According to the document, the parties have the intention to cooperate in information and experience exchange for the development and integration of both countries' stock exchanges.

"After the index is established, we will work with the WSE on extending opportunities of the Azerbaijan securities market and mutual integration into each other's stock exchanges," Abdinov said.