Last week review (Jan. 20-24)

Jan. 21

Azerbaijani Railways receive wagons repaired abroad

Azerbaijani Railways JSC has received all 76 passenger wagons sent for overhaul to Ukraine and Russia, head of the company Arif Askerov said.

The head of the company said that 60 wagons have been overhauled at Dnepropetrovsk and 16 in Voronezh.

Askerov went on to say that the wagons will be operated on the Baku-Tbilisi and Baku-Moscow routes.

The wagons were sent abroad for repairs due to the lack of technology in Azerbaijan for capital repairs of passenger carriages.

Ambassador: Belarus-Azerbaijan trade-economic cooperation at strategic level

The trade and economic cooperation between Belarus and Azerbaijan remained at the level of a strategic partnership in 2013, Belarusian Ambassador to Azerbaijan Nikolai Paskevich said at a press conference on the results of 2013.

"Industrial cooperation, joint projects in the fields of construction, education, health, science and technologies are the main priorities of cooperation between the countries," he said.

"In 2013 there were new projects on cooperation with the Ganja automobile plant for joint production of tractors and the assembly of experimental batches of buses and trucks which are currently being tested," he said.

Bill on insurance legislation amendments submitted to Azerbaijani government

The Azerbaijani Ministry of Finance submitted a bill on amendments to the law on "Obligatory kinds of insurance" to the government. It was prepared to create a legal framework for connecting the country to the Green Card international system of civil liability insurance of vehicle owners, head of the State Insurance Supervision Service under the Azerbaijani Ministry of Finance Namiq Khalilov said.

"The document may be submitted to the Azerbaijani Parliament during the spring session," he said.

Jan. 22

Azerbaijan leads South Caucasus countries in human capital index

Azerbaijan is leading the South Caucasus countries in the human capital index, according to the World Economic Forum (WEF) Human Capital Report 2013.

Azerbaijan ranks 64th among 122 countries with a score of -0.157 points, the WEF said.

Armenia took 73rd place with -0.218 points. The worst result in the region belongs to Georgia, which ranks 77th with a score of -0.258 points.

President Ilham Aliyev meets Holcim CEO

President of Azerbaijan Ilham Aliyev has met Chief Executive Officer of Holcim Bernard Fontana in Davos.

They hailed the activity of the Holcim in Azerbaijan as successful.

The Azerbaijani President and the Holcim CEO noted construction of a new cement factory served to expand cooperation between the country and the company even further.

They also exchanged views on prospects for cooperation.

Azerbaijani President meets CEO of Airbus Group International in Davos

President of Azerbaijan Ilham Aliyev has met CEO of the French Airbus Group International company Jean-Pierre Talamoni in Davos.

The Azerbaijani President and the Airbus Group International CEO also discussed how to enhance cooperation between the country`s relevant authorities and the company.

President Ilham Aliyev meets President of European Bank for Reconstruction and Development

President of Azerbaijan Ilham Aliyev has met President of the European Bank for Reconstruction and Development Suma Chakrabarti in Davos.

They hailed recent processes in Azerbaijan, the country's economic growth, and the government's attention to developing the non-oil sector, eliminating poverty and unemployment, and combating corruption.

Azerbaijani President meets Chairman of Global Partnerships at Swiss Re AG

President of Azerbaijan Ilham Aliyev has met Martyn Parker, Chairman of Global Partnerships at Swiss Re AG, in Davos.

They discussed how to develop cooperation between Azerbaijan and Swiss Re.
President Ilham Aliyev and Martyn Parker also exchanged views over development of insurance market in Azerbaijan, insurance of natural disasters and insurance with respect to prevention of agricultural disasters caused by climate change.

Jan. 23

Azerbaijani and Italian entrepreneurs consider opportunities of joint investments in third countries

Azerbaijani and Italian companies are considering the opportunities for making joint investments in third countries, namely Kazakhstan, Russia and Iran, President of the Azerbaijani National Confederation of Entrepreneurs Mammad Musayev said.

A meeting was held between business people of the two countries in Baku. Over 50 businesses representing the construction, tourism, furniture industry, retail and wholesale from the Azerbaijani side and a group of companies Made Spa, specialising in the construction, restoration, design, the Beghelli group, producing lighting systems, home appliances, security systems and a number of other ones attended the meeting.

WB regional director for South Caucasus arrives in Baku

World Bank regional director for the South Caucasus, Henry Kerali arrived in Azerbaijani capital of Baku, the bank's representative office said.

Kerali has already met with Azerbaijani Finance Minister Samir Sharifov.

He will meet with the Economy and Industry Minister Shahin Mustafayev, Agriculture Minister Heydar Asadov and Prime Minister Artur Rasizade.

The meetings will discuss the current state of WB operations in Azerbaijan, the bank's short- and medium-term plans, as well as its new strategy on Azerbaijan.

Jan. 24

Azerbaijan launches electronic registration of insurants

The State Social Protection Fund of Azerbaijan has launched e-service for registration of insurance.

Chairman of the fund Elman Mehdiyev said at the presentation of the service that the new service makes it possible to carry out the process of obtaining social insurance certificate online.

"Previously a citizen who has just started working and wanted to obtain a social insurance certificate meant the employer after signing the employment contract, had to personally submit a list of required documents to the State Fund. From now on, every employer will be able to issue these certificates for the employees without leaving the office," Mehdiyev said.

According to him, the introduction of this service will allow citizens to save time and increase transparency.

EU to support reforms in Azerbaijan's pension-insurance system

Azerbaijan and the European Union are working on a new twinning project in the pension-insurance sphere, chairman of Azerbaijani State Social Protection Fund Elman Mehdiyev said.

Currently the work is being carried out at the expert level with partners from Latvia and Germany, according to the chairman. The project cost hasn't been determined yet.

Azerbaijan will be assisted within the project in preparation of legislation for the work of private pension funds, the introduction of the system's accumulative component, as well as a number of other issues related to the development of Azerbaijan's pension-insurance system.

Azerbaijani Finance Ministry not to change requirements for non life insurers' capital

The Azerbaijani Finance Ministry will confirm the requirements for the minimum amount of the total capital of insurance companies rendering non-life services at the level of five million manat, according to the Finance Ministry's draft decision on determining the minimum amount of the capital required for insurers, posted on the portal of the authorizing documents for entrepreneurship www.icazeler.gov.az.

A minimum amount of the aggregate capital of a new insurance company rendering the services not related to life insurance must be formed at the same level, according to the draft document.

UAE, Afghanistan purchase products from Turkmenistan’s oil refineries on exchange
UAE, Afghanistan purchase products from Turkmenistan’s oil refineries on exchange
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Sweden bans entry from Norway over new coronavirus variant
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Deutsche Bank starts probe in relation to engagement with some clients
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