Last week review (Dec. 16-20)

Dec. 16

Azerbaijan, Italy prepare to sign strategic partnership agreement

The level of relations between Azerbaijan and Italy have enabled the conclusion of a strategic partnership agreement between the countries, Energy Minister Natiq Aliyev told journalists as part of a meeting of the Azerbaijani-Italian Intergovernmental Commission on Economic Cooperation.

"Currently, the Azerbaijani Foreign Ministry is working on the document," he said.

"At present, Italy is the buyer of the greater part of Azerbaijani oil and accordingly, one of the main trade-economic partners of the country," he said.

"Along with participation in the energy sector of the country, Italian companies are also represented in other areas, particularly, in the construction sector and for example, Codest International and Impreza," Aliyev said. "Besides these sectors, there are opportunities for cooperation in the social sphere and transport sector."

Dec. 17

Signing ceremony of final investment decision on Shah Deniz-2 project held in Baku

The signing ceremony of the final investment decision on Shah Deniz-2 project held in Baku.

Azerbaijani President Ilham Aliyev, his spouse Mehriban Aliyeva, the heads of several countries and governments attended the event.

Shah Deniz-2 project authorization means the transition of the project from the concept into an immediate implementation stage.

The cost of the second phase of development of Shah Deniz gas condensate field is estimated at $25 billion.

Within the second phase of development it is planned to produce some 16 billion cubic meters of gas (within the first phase - 9 billion), six billion of which will be transported to Turkey and ten billion to Europe.

Azeri firms invited to invest in Iran's energy sector

Iran invited Azerbaijani companies to invest in its oil and gas projects, Tehran chamber of commerce chairman, Yahya Al-e Es'haq, said.

Mammad Musayev, the president of AEC announced that the bilateral trade is not at a satisfactory level.

Dec. 18

ADB: Traffic forecasting model to be produced for Azerbaijan's capital

The study will carry on throughout 2014 and will produce a multi-modal traffic forecasting model to analyze different options in this sphere, David Margonsztern, ADB's urban development specialist said during a consultation meeting between ADB experts and representatives of Azerbaijani Transport Ministry that discussed Baku urban transport issues, the bank's message said.

"Recommendations will be prepared on creating a parking strategy, traffic management measures, new mass-transit systems such as Bus Rapid Transit on strategic corridors, improvement of the road network and main junctions, intermodal hubs, public bicycle sharing schemes and other innovative and sustainable actions to improve Baku's traffic and relieve the capital city of its congestion," Margonsztern said.

U.S. Ambassador: Azerbaijan's WTO accession could become a step towards economic reforms

One of the key steps in the efforts of the Azerbaijani Government for carrying out economic reform, may become the country's accession to the World Trade Organisation (WTO), U.S. Ambassador to Azerbaijan Richard Morningstar said, speaking at a meeting with member companies of the Caspian-European Integration Business Club (CEIBC).

The meeting was devoted to the topic 'Consideration of the possible expansion of US-Azerbaijani relations, as well as expansion of activities of American companies in Azerbaijan and Azerbaijani companies in the United States'.

Dec. 19

Deputy Minister: Implementation of Shah Deniz-2 aids strengthening of Azerbaijani-Georgian cooperation

The implementation of the second phase of development of the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea will contribute to the region's economic development, Georgian Deputy Minister for European and Euro-Atlantic Integration Mariam Rakviashvili said at a regional conference titled 'The way to strengthening Eastern Partnership territorial cooperation: Azerbaijan-Georgia territorial cooperation programme'.

Shah Deniz-2 is a very large project and its implementation will contribute to the strengthening of cooperation between Azerbaijan and Georgia, especially in the sphere of energy, according to Rakviashvili.

FAO to present agricultural framework program on Azerbaijan

Food and Agriculture Organization of the United Nations (FAO) will in the near future present a framework program to Azerbaijan's Agriculture Ministry, FAO Sub-Regional Coordinator for Central Asia Mustapha Sinaceur said at a meeting with the Azerbaijani Minister of Agriculture Heydar Asadov.

Sinaceur said FAO's strategy of support for Azerbaijan reflects all aspects of the issues faced by the country's agriculture.

During the meeting the sides discussed strategy for the development of veterinary science and the creation of cattle slaughter houses. The sides also discussed issues regarding FAO's expert support to Azerbaijan.

Dec. 20

Fitch Ratings views International Bank of Azerbaijan's recapitalisation plan as positive

Fitch Ratings has affirmed the Long-term Issuer Default Rating (IDR) of International Bank of Azerbaijan (IBA) at 'BB', Stable Outlook, Fitch Ratings reported.

"The affirmation of rating reflects Fitch's view that there is a moderate probability of support for the bank, if needed, from Azerbaijan (BBB-/Stable)," according to the message.

Fitch views as moderately positive the recapitalisation plan announced by IBA in October 2013. However, in the agency's view, planned loan growth (management targets 15%-20% per annum) and dividend payments mean that there is unlikely to be a significant improvement in capital ratios.

Port of Baku may be transferred to private management - Director-General
Port of Baku may be transferred to private management - Director-General
Turkey reveals volume of cargo shipped through ports since early 2021
Turkey reveals volume of cargo shipped through ports since early 2021
Uzbekistan considers co-op with Caspian states as priority direction of foreign policy strategy
Uzbekistan considers co-op with Caspian states as priority direction of foreign policy strategy
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E-auction for right to explore and produce hydrocarbons wraps up in Kazakhstan
Azerbaijan eyes to expand pomegranate export in 2021
Very ambitious reforms carried out in energy sector of Georgia - deputy minister
Azerbaijan, Hungary agree to cooperate in developing e-government
Uzbekistan remains largest importer of Kazakh wheat
United Airlines gets summer ready; to add over 480 flights to U.S. schedule
Israel's Health Ministry warns against travel to seven countries
Ambassador of Georgia to Ukraine returns to his duties
Georgia's import of tubes, pipes, hollow profiles from Turkey decreases
Georgia's Geostat reveals volume of ferroalloys exported to Turkey
Azerbaijan, Turkey to exchange experience on capital markets dev't
Georgia sees increase in volume of new mortgages - TBC Capital
Port of Baku may be transferred to private management - Director-General
Turkey reveals volume of cargo shipped through ports since early 2021
Kazakhstan suspends trade, economic co-op agreement with Croatia
Georgia can become one of 25 largest blueberry exporters in world
Public sector of Turkmenistan increases production volumes
Kazakhstan reveals physical volume of GDP for 2020
Azerbaijan announces date for export of domestic cars to Ukraine
Georgia's imports of medical products from Turkey down
Turkmenistan to participate in implementation of container line between Russia, Iran
Azerbaijan publishes data on number of vaccinated citizens for Apr. 23
Azerbaijani president appoints temporary Health Minister
IFC to provide assistance to Georgia in field of investment
Georgia sees increase in import of vehicles from Turkey
TAP implementing €800,000 worth program to reduce marine litter
Georgian exports of knitwear to Turkey up
Nar launches “Reading hour” Project for schoolchildren
Total volume of bank deposits of Azerbaijani population slightly decreases
Azerbaijan confirms 1,809 more COVID-19 cases, 2,191 recoveries
Georgia joins European Union's Eurodesk network
AmEx profit beats on over $1 bln reserve release boost
Azerbaijani president signs decree on dismissal of Health Minister
Azerbaijan publishes 1Q2021 data on gas exports to Italy
Businesses in Georgia to begin recovery in 2H2021 - Banking Association of Georgia
Lending to public organizations in Azerbaijan drops
Uzbekistan considers co-op with Caspian states as priority direction of foreign policy strategy
Azerbaijan cooperates with leading countries in robotics development - ministry
CNPC subsidiary opens tender in Turkmenistan for purchase of electrical materials
Deutsche Bank supports its Kazakhstan-based partner banks amid COVID-19 crisis
Turkey’s support of Georgia’s integration into NATO - crucial - Georgian FM
Azerbaijan shares data on bank deposits in foreign currency
Uzbekistan, US talk strategic partnership prospects
Panasonic to buy U.S. supply-chain software firm Blue Yonder for $7.1 bln
Iran's TPO expects trade growth
Germany’s biased attempt to undermine Azerbaijan - blatant hypocrisy - Azerbaijani political analyst
Kazakhstan-Romania trade plummets
Georgia sees surge in labor market
China-Europe Rail Transit Corridor to pass through Iran - RAI
Bank of Russia increases key rate to 5% per annum
N. Macedonia soon to ink deal for pipeline to get Azerbaijani gas
Azerbaijan sees annual decrease in deposits of local banks
Azerbaijan shares data on cotton sown area
Turkmenistan's Turkmenstandartlary opens tender for purchase of testing gas meters samples
SOCAR buys 3 oil tankers from Greek maritime corporation - sources
Iran's Mercantile Exchange to offer cars for sale
Azerbaijan's ASCO to engage tanker insurance services via tender
More joint border crossings could boost Iran-Pakistan trade ties - Chamber of Commerce
Iran's exports to Africa down
Azerbaijan hopes US Administration will not make historical mistake - Assistant to president
Iran's priority to provide COVID-19 vaccine from abroad than wait for domestic one - official
Turkey’s export of chemicals to US surges
Uzbek-Korean JV opens tender for compressors spares
Cargo turnover at Turkish Antalya Airport declines for 1Q2021
Students of Baku Higher Oil School become winners of ‘Enactus Azerbaijan Spring School’ project
Turkey discloses number of companies with Uzbek capital since early 2021
Iran receives new batch of Russian 'Sputnik V' COVID-19 vaccine
Azerbaijani IT company expands its range of solutions through int'l co-op
SpaceX rocketship launches 4 astronauts on NASA mission to space station
Turkey discloses number of Gemlik port-received ships in 2M2021
Decrease in bank lending observed in Baku and Azerbaijani districts
France should abandon OSCE MG co-chairmanship - French Senate member
Turkmenistan, Kazakhstan discuss issuing visas to drivers
TCO unveils timeframe plans for annual maintenance turnaround at Kazakhstan’s Tengiz
Azerbaijan discloses national team at Rhythmic Gymnastics World Cup
Defeat in Second Karabakh War - hard psychological point for Armenia, says Russian analyst
Germany ready to take part in gas production expansion projects in Kazakhstan
Uzbekistan's gold and foreign exchange reserves keep declining
Share of non-budgetary organizations in compulsory social insurance receipts increases in Azerbaijan
TOP-10 importers of Azerbaijani oil in 1Q2021
Uzbekistan’s volume of received cross-border transfers increases
Georgian reveals volume of funds spent on utility bill subsidy
Georgia, Ukraine to issue electronic permits for int'l cargo transport
Kazakhstan decreases production of raw sulfur over 1Q2021
Uzbekistan eyes exporting fresh and dried fruit, vegetable products to Latvia
Georgia increases imports of cars from Turkey
International Forum on Attracting Investment in Oil, Gas Industry of Turkmenistan select sponsor
JOCAP details plans for platform around Oil Rocks
Russia records another 8,840 coronavirus cases
JOCAP updates on progress in operations of PLBH for Absheron project
Turkey reduces exports of grain, legumes to Turkmenistan
Azerbaijan's State Committee on Property Issues to hold auction for state properties
Kazakh gas producing company opens tender for hydraulic fracturing services
YARAT Contemporary Art Space presents major project - 1st edition of Baku Street Photography Festival
Georgia reports 1,271 new cases of coronavirus for April 23
Purchasing power of Azerbaijani Nakhchivan's population improves for 1Q2021
Options for diversifying sources for Southern Gas Corridor
Uzbekistan reveals share of agricultural, forestry, fish output for 1Q2021
Georgian Railway increases cargo transportation
Armenia's PM interested in continuing co-op with Soros Foundation - expert
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