Feb. 20
Azerbaijan discusses wine exports
The Economic Development Ministry in Azerbaijan has discussed wine growing and winemaking development. An action plan prepared under the state wine culture development program and the possibilities to export these products to traditional and new markets in 2012-2020 was discussed at a meeting with the heads of leading companies in this field. The meeting outlined the need for granting preferential loans, establishing brands in this area and implementing comprehensive measures to support exports.
Azerbaijan to begin construction of satellite control centres
The area for the construction of the main control centre for Azerspace satellite has been agreed. The centre, which will be located 38 km along the Baku-Shamakhi road, has been approved and construction work will begin soon after selecting a building firm. The main satellite control centre will be located on one hectare. The construction project of ground stations for satellite control in Azerbaijan meets all international standards. Construction work for the main and reserve satellite control centres should be completed in August.
Nabucco submits new conception to Shah Deniz Consortium
Nabucco Gas Pipeline International submitted a new conception of the project - Nabucco West to the Shah Deniz Consortium, an official representative of the Consortium said . According to the new conception, Nabucco gas pipeline will be laid from the Turkish-Bulgarian border to the Austrian Baumgarten. The original concept of Nabucco project envisages construction of the pipeline from the Georgian-Turkish and Iraqi-Turkish borders to the Austrian Baumgarten.
Top official: Azerbaijan's participation at G20 summit indicates its growing prestige in world
Azerbaijan's participation at the G20 summit is an indicator of its growing prestige in the world, strengthening of its role and contribution to global politics, Azerbaijani Presidential Administration Social and Political Department Chief Ali Hasanov said. Azerbaijan is actively involved in global economic, political and international relations, Hasanov said. He noted that Azerbaijan is gradually expanding its role and involvement in the world politics and as a sign of this, is invited to the most important events at the world level.
Azerbaijan is participating at the G20 summit of foreign ministers for the first time. Azerbaijani Foreign Minister Elmar Mammadyarov is representing the country at this meeting. Azerbaijan became one of ten countries invited to participate at the G20.
Mexico presides over G20 in 2012.
Moore Stephens to prepare fifteenth report on EITI for Azerbaijan
Moore Stephens international auditing company will prepare fifteenth report on the results of 2011 in the framework of Azerbaijan's participation in the Extractive Industries Transparency Initiative (EITI), State Oil Fund of Azerbaijan (SOFAR) said.
The decision was made at a meeting of the multilateral group of EITI, which was held on Monday at the State Oil Fund.
Feb.21
Moody's positive about increasing competition in Azerbaijan bank market
International rating agency Moody's positively appreciates the increase in the share of the Azerbaijan private banking sector in the country's credit market. The share of credit investments of the private banks increased by 64 per cent in 2011, from 55 per cent in 2010. This is a positive tendency for the private banks. The increased scale of private sector operations has improved the banks pricing power and enables them to attract new clients, ultimately strengthening their aggregate financial indicators, including profitability and efficiency. Historically banking competition in Azerbaijan has been distorted by the dominance of the largest state bank, the International Bank of Azerbaijan (Ba1 negative; E+/B3 negative), the agency noted.
Azerbaijan connects one more telecommunication hub to 'Trans-Asia-Europe' segment
Aztelekom Production Unit of the Ministry of Communications and Information Technologies of Azerbaijan connects Neftchala telecommunications hub to the fiber optic segment "Trans-Asia-Europe" (TAE). Connecting Neftchala telecommunication hub is envisaged in the direction of the Salyan district. Currently part of work planned in this regard has been completed.
Feb.22
Korea may assist drawing up Baku's land map
The State Committee for Land and Cartography of Azerbaijan is negotiating with the Ministry of Land, Transport and Maritime Affairs of Korea to expand the scope of the project to improve the system of land cadastre in Azerbaijan. Under the project, the State Committee and the Ministry signed a protocol of understanding in October, 2011. Azerbaijan was then provided with technical assistance to draw up a map of 1000 hectares of land in the Khazar district of Baku and also given a grant of $1.5 million. This was signed for 18 months to deliver the project 'Improvement of the Land Cadastre of Azerbaijan'.
Azerbaijan and Austria discuss investment increases in ICT sector
Azerbaijan and Austria are considering investment increases in ICT. An Azerbaijani delegation headed by Communications and IT Minister and co-chair of the Azerbaijani-Austrian intergovernmental commission on economic, agricultural, industrial, technical and technological cooperation Ali Abbasov is taking part in the seventh meeting of the intergovernmental commission on Feb. 21-22 in Vienna. The sides discussed bilateral trade and economic relations and the Azerbaijani entry into the World Trade Organization. During the visit, the delegation scheduled various bilateral meetings, including a meeting with the deputy general director of the UN Office in Vienna and the head of UN Office for space affairs. Today, a business forum with more than 60 Austrian and 20 Azerbaijani companies will take place upon the initiative of the Austrian Federal Economic Chamber. Azerbaijan and Austria took the preliminary decision on cooperation in the field of ICT during the sixth meeting of the Azerbaijani-Austrian intergovernmental commission, which took place in late 2011 in Baku. The sides have reached an agreement on cooperation in the areas of regulation of the telecommunications market, the exchange of experience in the field of nanotechnology, the creation of technology parks, as well as the possibilities of money transfers between postal operators in Azerbaijan and Austria. Recommendations on cooperation in the ICT field were summed up in the final protocol.
ECOBANK ready to give Azerbaijan large equity package
Azerbaijan is preparing to buy up to a three per cent sharein the Bank of Development and Trade of the Economic Cooperation Organizstion (ECO) - ECOBANK, the country's government said. "The government has formally applied to the Bank with the proposal, but the share of Azerbaijan's share in the bank's capital may depend on the distribution of participations in connection with Afghanistan joining ECOBANK, about which there is already agreement in principle", the government source said.
Azerbaijan prepares proposals on beach tourism development
Azerbaijan has prepared proposals to develop beach tourism. The Azerbaijani side is negotiating on the issue with Turkish experts, department head at the Culture and Tourism Ministry Aydin Ismiyev said. According to the new law on tourism, beach tourism is accepted as a new tourism sphere in Azerbaijan.
Azerbaijani representatives of tourism instructed with regard to Eurovision-2012
Representatives of tourism are instructed with regard to Eurovision-2012, the Minister of Culture and Tourism Abulfas Garayev said. "Meetings with all managers of hotels are held, booking for certain persons who arrive at the Eurovision is completed," Garayev said. "Azerbaijan Tourism Organization deals with it. We help them to do it. Negotiations in the hotels are continuing at the moment. Work to improve the quality of service in hotels, installation of POS-terminals is being implemented" Garayev added.
Azerbaijan and Belarus signs agreement on economic cooperation
Ministry of Economic Development of Azerbaijan and the Ministry of Economy of Belarus signed an agreement on economic cooperation, Ministry of Economic Development said. The Ministry held a meeting with a delegation headed by Economy Minister of Belarus Nikolay Snopkov. The sides discussed the existing economic relations between the two countries and prospects of cooperation. Minister of Economic Development Shahin Mustafayev and Economy Minister Nikolay Snopkov signed an agreement on "Cooperation between the Ministry of Economic Development of Azerbaijan and the Ministry of Economy of Belarus" at the end of the meeting. The agreement provides expansion of bilateral economic relations, exchange of information and experience in such areas as investment and trade, entrepreneurship, joint research and innovation, holding business forums and seminars.
Feb.23
Azerbaijani and Aktobe chambers of commerce sign memorandum
The Azerbaijani and Aktobe chambers of commerce have signed a memorandum of understanding at the Azerbaijani-Kazakh business forum in Baku. The document was signed by Azerbaijani Chamber of Commerce First Vice President Niyaz Alizade and Aktobe Chamber of Commerce Chairman Abay Myrhin. Over 100 businessmen attended the business forum. The Kazakh delegation is headed by Mayor of Aktobe region Archimedes Mukhambetov. The trade turnover with Azerbaijan exceeds $ 40 million, i.e. the third place among foreign trade partners of the region.
Azerbaijan Ministry of Taxes negotiates with mobile operators over new service
The Azerbaijan Ministry of Taxes is negotiating with mobile operators to enable the payment of taxes being made using mobile communications. The Deputy Minister Sahib Alekperov mentioned it during a public discussion on the application of modern technology and the basis of an effective tax administration. "Agreement on the implementation of this service has been already signed with our partners. We are fully prepared for it," Mr Alekperov said.
He noted that the ministry plans to start accepting payment of taxes and state fees through the Internet in the near future. "We will provide this service within one or two months," Mr Alekperov said adding that encouraging non-cash payments is one of the main tasks of the ministry in 2012.
Azerbaijan, Jordan to discuss enhancing economic cooperation
An Azerbaijani delegation headed by Economic Development Minister Shahin Mustafayev will visit Jordan on Feb.27. During the visit, the delegation will hold bilateral meetings. The meetings will discuss economic cooperation between Azerbaijan and Jordan and boosting relations. As Jordanian Ambassador to Azerbaijan Adel Mohammad Adaileh told Trend earlier, Azerbaijan has a developed petrochemical industry, and Jordan would like to cooperate in this sphere. "Jordan is a country with a developed agriculture and manufacturing industry. At the same time, the production of pharmaceuticals and construction materials is developed. Jordan is also a country with advanced technologies," Adaileh said. He said Jordan has plans to open a shopping center in Azerbaijan. The trade turnover between Azerbaijan and Jordan in 2011 totaled 3.59 million, and $3.5 million accounted for imports.
Azerbaijan, Kazakhstan discuss joint venture creation
Aktobe province has great investment opportunities, and participation of more than 80 representatives of the Azerbaijani business at the business forum held in Baku on Thursday confirms their great interest in Kazakhstan's economy, president of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Adil Mammadov said. "At present we are discussing possibility of establishing joint ventures in Kazakhstan and Azerbaijan, as well as the export of Azerbaijani goods in Aktobe," Mr Mammadov said. He said in Azerbaijan export potential, especially in the food industry increases each year. And the Kazakh market has traditionally been a profitable market for Azerbaijan, and market of Aktobe province is one of them. As part of the business forum investment projects in the engineering, construction, agricultural areas, in the food industry and other sectors of the economy of Aktobe province were presented. The province's turnover with Azerbaijan exceeds $40 million, which means that Azerbaijan ranks third among province's largest foreign trade partners.
Feb.24
Azerbaijan, Latvia enter new stage of cooperation
Azerbaijan and Latvia entered a new stage of cooperation, Latvian Foreign Minister Edgars Rinkevics said at a lecture on "Latvia's perspective on deepening dialog between the EU and Azerbaijan" at Azerbaijan Diplomatic Academy. "We are on the new stage of cooperation between the two countries," Rinkevics said. He said active political dialog and trade volumes are the evidence to that. He said Latvia, as well as the EU, as whole are willing to strengthen the relations with Azerbaijan. Rinkevics said Latvia supports the soonest resolution of the Nagorno-Karabakh conflict according to international law and the Helsinki basic principles. He stressed that the EU is the largest trade partner of Azerbaijan and it welcomes every initiative to make the ties with Azerbaijan closer.
FATF proposes new initiatives to combat financial crimes
The Financial Action Task Force Against Money Laundering (FATF) has updated recommendations on combating money laundering in the fight against financing terrorism, the Financial Monitoring Service reported. FATF recommendations in the new edition have been adopted at the regular plenary session on Feb. 15-17.
Feb.25
UN interested in expanding cooperation with Azerbaijan in agricultural sphere
Food and Agriculture Organization (FAO) is interested in expanding the cooperation with Azerbaijan, this was reported at a meeting in Rome with the new FAO Director General Jose Graziano and Azerbaijani deputy minister of agriculture Bahram Aliyev. "The issues related to the preparation for the 28th European regional conference FAO, to be held in Baku on April 16-20, 2012, an increase in the dynamics of the cooperation and financing the projects in Azerbaijan were discussed at the meeting," a statement issued by the Azerbaijani Embassy in Italy said.
ITU considers application of Azerbaijan for new orbital position
The International Telecommunication Union (ITU) is considering a request of the Ministry of Communications and Information Technologies of Azerbaijan for a new orbital position 62 degrees east longitude for the Azersat C satellite system, chief adviser of the ministry's telecommunications department Gulam Abdullayev said. Mr Abdullayev said an application to the ITU for this orbital position was filed in 2011. "At present, the ITU examines Azerbaijan 's application and prepares coordination requirements", Mr Abdullayev said.