Azerbaijan, Baku / Trend corr I. Khalilova / Baku Stock Exchange (BSE) has plans to begin work with potential participants of the securities market in September, the Chairman of the Board of BSE, Khayal Abdinov, reported.
According to him, this year the work will be carried out by round tables and meetings, but in 2008 a Conference on Opportunities of Development of Azerbaijani Stock Market is planned.
As a result of 2007, the expansion of the securities market is expected to reach AZN 3bln, though initially it was planned to achieve $3bln. The expectations are caused by the current development rate of the stock market. According to Abdinov, the market has already been extended to $2.5mln and the increase is caused by the expansion of the state securities market and repo-operations.
Meanwhile, US, English and Russian investors are already functioning in the stock market of Azerbaijan. They invest not only corporative bonds and stocks, but also state securities. The work in this connection will also be intensified this year.
Expansion of the secondary market of corporative securities is very prospective.