Last week review (April 23-28)

April 23

Azerbaijan and Kurgan region of Russia discuss cooperation in field of metallurgy

Azerbaijan and the Kurgan region of Russia discussed in Baku prospects of cooperation in the field of petroleum engineering.

Prospects of cooperation between the parties were discussed during the meeting between Minister of Industry and Energy Natig Aliyev and Governor of the Kurgan region of Russia Oleg Bogomolov.

They also discussed possibilities of cooperation in the field of metallurgy. The sides noted the real potential for a dialogue in these areas.

Azerbaijan prepares intellectual property strategy

Azerbaijan has prepared the National Strategy for Intellectual Property, head of the Azerbaijani Copyright Agency Kamran Imanov told media.

He said the strategy will be submitted to the government's consideration in the near future.

The strategy has been prepared as a result of joint work between the Agency for Copyright and the State Committee on Standardization, Metrology and Patents.

April 24 Azerbaijan to increase renewable energy volume to 20 per cent

Azerbaijan intends taking the production volume of alternative and renewable energy to 10 per cent of the total energy production till 2020, Azerbaijani Minister of Industry and Energy Natiq Aliyev said at an international conference on alternative energy in Baku. However, this figure could be increased to 20 per cent.

Today Azerbaijan is preparing two major projects. The plan of alternative and renewable energy development by 2020, as well as a programme of developing these types of energy, he said.

The minister said that earlier, the European Union has provided Azerbaijan with a grant worth 13 million euro to match the legislation in the field of alternative energy with the relevant EU legislation.

Azerbaijan's experience in energy sector discussed at leading U.S. university

Azerbaijan's achievements in the energy sector were discussed at the Annual Energy Conference at Tufts University's Fletcher School of Law and Diplomacy, which is located in the U.S. State of Massachusetts.

Azerbaijani Ambassador Elin Suleymanov, addressing the workshop "Meeting Growing Energy Demand in Developing Countries: Challenges and Opportunities", said that as a result of successful energy policy, foundation of which was laid by National Leader Heydar Aliyev, the country implemented projects directed not only at national, but also at regional development and integration. Suleymanov said as a result Azerbaijan has won image of a reliable partner in ensuring energy security of Europe.

At the workshop, which also discussed ecology, environment and alternative energy sources, it was noted that the State Agency on Alternative and Renewable Energy Sources was established in Azerbaijan by a presidential decree in 2010.

Senior Director for International Affairs at BP Washington Office Greg Saunders stressed the importance of studying Azerbaijan's rich experience in the energy and management of oil revenues. He said Azerbaijan's relations with partners are the true example of mutually beneficial partnership.

ADB: Agriculture and tourism - engines of Azerbaijan's non-oil sector development

The Asian Development Bank (ADB) sees agriculture and tourism as engines of Azerbaijan's non-oil sector development.

ADB Baku Office economist, Nail Valiyev made this statement during the presentation of the bank's report on the country in Baku.

"Improving infrastructure in the regions, further backing of agricultural producers and preserving tax incentives for them contributes to the development of Azerbaijan's agricultural sphere which has great potential," Veliyev said.

He added that the full potential of the country's tourism will lead to a growth of the non-oil GDP.

Korea develops non-oil industry development programme for Azerbaijan

A programme of non-oil industry development in Azerbaijan has been established as part of the good working relationship between the Azerbaijani Industry and Energy Ministry and Korean International Cooperation Agency (KOICA).

The programme developed by Korean specialists is currently being translated into Azerbaijani. After completing this work it will be sent for coordination with other agencies of the country.

The programme has been prepared based on collected data and research conducted in all regions of Azerbaijan. KOICA allocated funds for this purpose.

The Korean side has great experience in this sphere and an external view will allow objectivity in assessing the potential of industrial development in the non-oil sector in the country.

Azerbaijani National Confederation of Entrepreneurs and KOPIA sign memorandum

The Azerbaijani National Confederation of Entrepreneurs and the Association of Korean industrial equipment (KOPIA) have signed a Memorandum of Understanding during the Industrial Forum in Baku.

The memorandum has been signed by head of the Confederation of Entrepreneurs Mammad Musayev and KOPIA president Sung Ok Lee.

While opening the forum, Musayev said that it is necessary to create the Cooperation Council to implement the provisions of the memorandum. The parties will be able to cooperate actively within this body which can cover many Azerbaijani regions, he said.

ADB provides technical assistance within II program to develop road network in Azerbaijan

ADB approved the allocation of technical assistance in the amount of $225,000 to Azerbaijan in the frame of the second multitranche package (Multitranche Financing Facility - MFF) to develop the road network in the country (Second Road Network Development Program).

"Technical aspects of the selection and construction of road segments in this program will be checked for compliance with ADB, the economic and financial sustainability of projects will be evaluated, environmental assessment and other work carried out due to the assistance" the bank said.

April 25

Dagestan's government delegation visits Azerbaijan

A delegation of the government of the Republic of Dagestan, headed by Deputy Prime Minister Rizvan Gazimagomed visited Azerbaijan. The delegation of the Republic of Dagestan paid a working visit to Azerbaijan to develop the agreements reached during the Russian-Azerbaijani business forum conducted in Makhachkala in November 2011. The upcoming visit has contributed to further strengthening the economic ties between Azerbaijan and Dagestan. The meetings were held with Azerbaijani First Deputy Prime Minister Yagub Eyubov, Minister for Economic Development Shahin Mustafayev. A round table (Business Forum) was held with representatives of business circles. Dagestan's delegation included Minister of Economy Marat Ilyasov, Minister of Agriculture Satmar Amirov, Dagestan's representative in Baku Magomed Kurbanov, chairman of the Committee on Transport Said Saidov, head of the Agency for Tourism Anatoly Karibov, head of the Agency of Investments and Foreign Economic Relations Ali Nurmagomedov, as well as media representatives.

New gold deposit discovered in Azerbaijan

The company Anglo-Asian Mining plc - gold producer in Azerbaijan - announced discover of new gold deposit in the country.

The deposit is found in the contract area of 462 square kilometers in the Nakhichevan Autonomous Republic. The company has already notified the Ministry of Environment and Natural Resources.

The deposit was discovered during the exploration activities carried out by the company on the territories of Piyazbashi and Agyurt near the town of Ordubad in 2010-2011. The company now plans to conduct further exploration in order to confirm the presence of gold deposits with a small production capacity.

Azerbaijani customs completes Eurovision-2012 organizational work

The Azerbaijani State Customs Committee (SCC) has completed the organizational work related to the preparations for Eurovision-2012, which will be held in Baku, Chairman Aydin Aliyev told reporters.

"All the organizational work that SCC had to carry out has already been completed. X-ray machines have been removed from the halls of Heydar Aliyev International Airport, but it doesn't mean that customs will not be implemented. In addition service of electronic declaration of the passengers is implemented. Visitors can fill in the electronic declaration from their countries." Aliyev said.

Azerbaijan launches primary version of e-government portal

The Azerbaijani Communications and IT Ministry has launched the primary version of its e-government portal (, Communications and IT Minister Ali Abbasov told media.

He said that at present, the list of electronic services has been prepared and approved by the Cabinet of Ministers.

"We are ready to render about 60 e-services to the population at this portal," he said. "A certain part is delivered via "single window" principle. Besides rendering electronic services to the population, our main goal is to create conditions for citizens to submit their
proposals, the requirements for electronic services. This will allow creating new services to meet the needs of the population."

April 26

Azerbaijani Central Bank withdraws 50,000 old banknotes from circulation in 2011

The Central Bank of Azerbaijan (CBA) has withdrawn from circulation and exchanged unusable banknotes worth 1.4 million manat (approximately 50,000 units) in 2011, the ministry of taxes said.

The central bank automatically processes and sorts out-of-treatment banknotes.
Banknotes, unsuitable for further use are abolished by the working group of the special state commission.

As a result of the currency denomination [a full transition to a new scale of prices took place in 2007] carried out by the CBA, the complete replacement of old banknotes with new completed before December 31, 2006. Only new banknotes have been used in Azerbaijan since 2007, which prevented the difficulties that might arise with regard to 19 denominations.

Azerbaijan discusses international banking community integration

Azerbaijan is discussing the mechanisms for the further development and mutual integration of the international banking community.

The Fourth Interbank International Forum, organized by the Moscow International Currency Association (MICA) is held in Baku from April 26 to 28.

Shaig Alekberov, a member of the Supervisory Board of Muganbank JSC - one of the sponsors of the forum, said this forum is important from the standpoint of establishing useful contacts and business relationships with colleagues from other countries.

"The Forum is a good platform for establishing contacts with financial institutions from other countries, exchange of views, study of foreign experience in the use of new financial instruments," Alekperov told Trend on Thursday.

The forum will give an analysis of the current situation in the banking systems of the euro area, near and far abroad, sum up the development of interbank business to date, make ​​predictions for the future.

One of the main topics of discussion are the problems of cooperation between banks and the development of the interbank market in conditions of tightening of regulatory requirements, including the capital of credit institutions, issues of raising the return on bank assets, risk management, the introduction of new standards of corporate governance.

The forum brings together about 300 representatives of credit and non-credit organization- financial market participants.

New taxation mechanism for private notaries determined in Azerbaijan

A 10-percent tax may be charged from the revenues of private notaries in Azerbaijan from 2013, the government said.

"The agreement was reached to deduct 10 per cent of the total income of notaries (without deducting expenses) received during the quarter as part of improving the taxation mechanism of private notaries in the country," the source said.

The notaries' income include the fees for services rendered by them, state duty and other payments.

"These changes are planned to be included in the draft amendments to the Tax Code to be submitted to the Parliament till May 15," the source said. "But there is also the variant of adopting these changes through a separate law, which also envisages making changes to the tax legislation."

The tax legislation does not provide a separate item of taxation for private notaries.
Different approaches of taxation are applied now to private notaries operating in Azerbaijan.

Some of them pay a simplified income tax, some - with income (before deducting expenses).

Only persons engaged in entrepreneurial activities may be payers of simplified tax in the Tax code.

Zaporozhian business interested in cooperation with Azerbaijan

Companies from the Zaporozhye region have expressed an interest in expanding business cooperation with Azerbaijan, the Azerbaijan Export & Investment Promotion (AZPROMO) said.

In particular, the 32 companies of the Zaporozhye region offer Azerbaijani enterprises and companies to cooperate in trade and commercial sector, heavy and light industry, in electricity and electronics, instrumentation, food processing and food production. Among them - "Zaporizhtransformator", "Zaporizhzhya Automobile Building Plant" (ZAO ZAZ), "Industrial Enterprise" Azovkabel "," Hydraulics-Trade "," Zaporizhzhya plant of ferroalloys "," Zaporizhzhya Cable Plant "," Mining Company "Mineral" , "Azov grease and oil", "Priazovsky cheese factory", "Pology oil extraction plant", "Agricultural firm Olvia" and others.

Such interest of the Ukranian part was shown after the Azerbaijani-Ukrainian business forum held in Baku in April. Today, Azerbaijani businessmen including State Oil Company of Azerbaijan (SOCAR) are active in Ukraine.

The potential of the trade and economic relations between Azerbaijan and Ukraine is many times greater than the existing level, Deputy Foreign Minister Viktor Maiko said at an Azerbaijan-Ukrainian business forum held in Baku.

April 27 Currency trade agreement between Azerbaijan and Russia reached

The Baku Interbank Currency Exchange (BBVB) and the Moscow International Currency Association (ММВА) signed a Memorandum of Understanding in Baku.

The agreement was signed by the head of BBVB Farhad Amirbekov and the head of MICA Alexei Mamontov.

The subject of the memorandum is cooperation based on equality of the parties to create conditions for the financial institutions of Azerbaijan and Russia to participate in the auction in the trading systems of BBVB and ММВА - BEST (exchange electronic trading system), and DELTA.

According to the document, BBVB is the only partner of ММВА in Azerbaijan and vice versa.
The Moscow International Currency Association will provide advice to the BBVB in implementing the principles of e-commerce through money market methods which will enhance the liquidity, transparency and reliability of the money market instruments.

In the framework of the memorandum the residents of Azerbaijan are allowed in the trading system of Delta, concluding by signing a corresponding contract, and vice versa.

The parties believe that the actual co-operation on matters specified in the memorandum should be the subject of a special agreement.

Bulgarian Economy Ministry: Azerbaijan's sustainable development is attractive

Azerbaijan's sustainable development, the enhancing of its export potential and purchasing power makes the country attractive for cooperation, head of the Russian Federation and CIS countries department at the Bulgarian Economy, Energy and Tourism Ministry, Iordan Tenev said at the Azerbaijani-Bulgarian business forum.

He said the most promising spheres for cooperation between the two countries are energy, tourism, construction and the food sector.

"The Bulgarian Government will continue to pay attention to cooperation with Azerbaijan and promote effective means joint activity," Tenev said.

During the business forum, a Memorandum of Understanding was signed between the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the Chamber of Commerce in Bulgaria.

The business meeting was held as part of the visit of a Bulgarian delegation headed by Prime Minister Boyko Borisov to Azerbaijan. The forum was attended by businessmen of both countries representing spheres of construction, transport, logistics, pharmaceutical, poultry and wine.

Azerbaijan, Turkey discuss cooperation in ICT

Turkey is ready to share experience with Azerbaijan in forming a knowledge-based economy, Turkish Science, Industry and Technology Minister Nihat Ergun said at a meeting at the Azerbaijani Communications and IT Ministry.

According to Ergun, Turkey and Azerbaijan now cooperate in various spheres and ICT is one of the spheres with great prospects. The Turkish side is ready to offer Azerbaijan its experience of cooperation with higher education institutions and staff training in
information technology.

In turn, Azerbaijani Communications and IT Minister Ali Abbasov informed his Turkish counterpart on projects implemented in the country in the sphere of ICT, microelectronics, creating of space industry, as well as radio and television development.

Abbas expressed interest in cooperation with the Turkish side in the innovative projects.

He said the ministry established a fund to support ICT, which mainly focuses on the development of innovative business that could be one of the most promising areas of cooperation between the two countries.

Abbasov has invited the Turkish side to take part at Bakutel exhibition and provide its experience in developing and applying high-tech in business environment.

The meeting also discussed cooperation in the field of nanotechnology.

Azerbaijan, Turkey intend to cooperate in non-oil sector

Azerbaijan and Turkey will establish a working group to consider and implement joint projects in the non-oil sector.

The decision to establish a joint working group was taken at a meeting in Baku between Azerbaijani Minister of Industry and Energy Natig Aliyev and Turkish delegation led by Minister for Science, Industry and Technology of Turkey Nihad Ergun.

During the meeting the sides discussed prospects for cooperation in non-oil sector and industry, particularly in the creation of industrial parks and zones.

The Turkish government has decided to develop jointly with Azerbaijan non-oil sector. Therefore the aim of the visit of the Turkish delegation to Azerbaijan is to conduct work on these projects.

Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
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