Last week review (Nov. 18-22)

Analysis Materials 26 November 2013 10:58 (UTC +04:00)

Nov. 18

Azerbaijan, Ukraine sign five documents

Bilateral documents were signed in Kiev, in presence of Viktor Yanukovych and Ilham Aliyev, the official website of the Ukrainian President reported.

President of Azerbaijan Ilham Aliyev and President of Ukraine Viktor Yanukovych have signed the Protocol of the IV Session of the Council of Presidents of Ukraine and the Republic of Azerbaijan, which lays down the results of the discussion of the main issues of Ukrainian-Azerbaijani bilateral relations agenda, particularly the conditions and prospects for the development of political dialogue, cooperation in trade, economic, fuel and energy spheres, as well as the arrangements achieved following the session of the Council of Presidents.

Additionally, in presence of the presidents, bilateral documents were signed.

Nov. 19

Minister: Ghana interested in energy sector cooperation with Azerbaijan

Ghana is interested in using the experience of Azerbaijan in the energy sector, Minister of Energy and Petroleum of Ghana, Emmanuel Armah Kofi-Buah said at a meeting with the Minister of Industry and Energy of Azerbaijan Natig Aliyev.

During the meeting, Aliyev said that Azerbaijan is always ready to support projects aimed at expanding cooperation. In particular the proposals from Ghana will be carefully studied and considered.

Azerbaijan, Iran discuss financing of Qazvin-Rasht-Astara railway

Azerbaijan and Iran have discussed the financing of the Qazvin-Rasht-Astara railway project.

According to the statement, a meeting held in the city of Rasht was attended by the Azerbaijani Ambassador to Iran Javanshir Akhundov, the representative of Azerbaijan Railways JSC and other officials.

The meeting mainly discussed the form of Azerbaijan's participation in the financing of the Qazvin-Rasht-Astara railway.

Nov. 20

Azerbaijan invests over $500 million in alternative and renewable energy development

Over $500 million was invested in the development of alternative and renewable energy sources in Azerbaijan from 2010 to 2013, Chief Power Engineer of Azalternativenerji Ltd. Tahir Jafarov said at the second session of the Expert Group on Alternative Energy of Economic Cooperation Organisation (ECO).

A draft national strategy for the development of alternative and renewable energy sources till 2020 which is currently being agreed on, was worked out within the development of alternative energy in the country, he said.

According to Jafarov, the strategy envisages identification of the main directions of thermal energy production from renewable energy sources (RES), the creation of the legal framework in this sphere, arrangement of events on the use of renewable energy sources, as well as the use of renewable energy sources in economic spheres.

SOCAR plans to put new processing complex into operation by 2026

The State Oil Company of Azerbaijan (SOCAR) plans to put the new 'Oil and Gas Processing and Petrochemical Complex (OGPC) into operation and to start production there in 2023-2025, SOCAR vice-president for processing, David Mammadov, who attended the meeting of the Caspian European Integration Business Club (CEIBC), said.

Nov. 21

UK PM's Trade Envoy: Azerbaijani-UK trade and investment relations are strong

The trade and investment relations between Azerbaijan and the United Kingdom are very strong, UK Prime Minister's Trade Envoy to Azerbaijan, Charles Hendry said at a press conference during his visit to Baku.
According to Hendry, the United Kingdom is responsible for more than half of the foreign direct investment into Azerbaijan's oil and gas sector.

"But even in the non-oil and gas sector, the UK is the biggest source of investment into Azerbaijan," Hendry said.
Hendry noted that he had got familiarized with the White City project in Azerbaijan and said there are companies in the UK who would like to take part in such projects.
According to Hendry, Azerbaijan is keen to develop tourism industry and British companies could also be part of this process.

Azerbaijan, Belarus sign bilateral documents

Following the expanded meeting between Presidents Ilham Aliyev and Alexander Lukashenko, Azerbaijan and Belarus have signed bilateral documents.

Presidents Ilham Aliyev and Alexander Lukashenko signed "Joint Declaration of President of the Republic of Azerbaijan and President of the Republic of Belarus".