Last week review (June 9-13)

June 9

Azerbaijan, ADB discuss cooperation prospects

The current cooperation and the prospects for future cooperation between Azerbaijan and the Asian Development Bank (ADB) were discussed during a meeting between Azerbaijani Minister of Finance Samir Sharifov and Vice-President of the Asian Development Bank Wencai Zhang in Baku.

Zhang visited Ganja city and Goychay region during his visit to Azerbaijan to review the process of implementation of ADB projects. The issue of holding a meeting of the ADB Board of Governors in Baku in 2015 was discussed at the meeting."The preparatory work for the meeting is being conducted at a high level and in accordance with the schedule," Sharifov said.

Azerbaijan, ADB to expand cooperation in all areas of road transport complex

Azerbaijani Transport Minister Ziya Mammadov received a delegation headed by Vice-President of the Asian Development Bank Wencai Zhang.

At the meeting, the minister stressed that transport is one of the priorities of the Azerbaijani economy. He spoke about the construction of the Baku International Sea Trade Port, the state program for the railway development, as well as large regional projects and the expansion of international cooperation. He stressed that the Baku-Tbilisi-Kars railway project is under completion.

Zhang stressed that there is great potential to expand cooperation between ADB and Azerbaijan.

The sides also discussed other issues on this topic and came to an agreement on enhancing cooperation in all areas of the road transport complex.

June 11

WB reconsiders forecast for Azerbaijan's GDP growth

The World Bank (WB) reconsidered its forecast for Azerbaijan's GDP growth in 2014 downward, according to the WB report "Global Economic Prospects".

The bank believes that during the year the country's GDP will increase by 5.2 percent. The bank expected 5.3 percent growth of the national economy in the forecast announced in January.

The IMF also predicts a slowdown of the national economy rates from 5 percent as of 2014 to 4.6 percent in late 2015.

Azerbaijan Railways, Swiss Stadler sign new railway car purchase contract

Azerbaijan Railways and Swiss company Stadler signed a contract on purchase and sale of 30 new passenger rail cars that meet European standards in Baku.

The cars will be supplied to the republic before the new Baku-Tbilisi-Kars railway [to be launched in 2015], designed to connect the railways of Azerbaijan, Georgia and Turkey, is commissioned.

"It will be possible to replace the pair of wheels for movement on the European track," the company said.

Intelsat aims for cooperation with Azerbaijani satellite operator

International Telecommunications Satellite Organization (INTELSAT) aims for close cooperation with Azerbaijan`s "Azercosmos" OJSC satellite operator.

The remarks were made within the framework of the meeting of Azerbaijani Minister of Communications and High Technologies Ali Abbasov with the Intelsat Chairman and CEO David McGlade and the Intelsat President Stephen Spengler.

At present "Azercosmos" JSC and Intelsat discuss promising areas of possible cooperation, which can be the basis of interaction between the two operators in the future.
The Intelsat management visited the main earth control station of the "Azerkosmos" JSC satellite.

June 12

Azerbaijan,World Bank sign loan agreement on agriculture The World Bank (WB) and the Azerbaijani government signed an agreement on allocation of a loan in the amount of $34.5 million for the implementation of the project to strengthen the competitiveness in agriculture. The document was signed by the head of WB office in Baku Larisa Leshchenko and the Azerbaijani Agriculture Minister Heydar Asadov. The total cost of the project is $ 54.25 million. The implementation term of the project is four years. The project envisages strengthening of the competitiveness through the creation of production chains, starting from initial agricultural production to creation of logistics system on regions and some products. It is supposed to support the veterinary system within the project, also an important focus is to strengthening and the improvement of the phytosanitary standards and procedures, veterinary services within the framework of the project.

Some $20 billion invested in Azerbaijan's transport sector over 10 years

Around $20 billion was invested in Azerbaijan's transport sector over the last 10 years, Azerbaijan's Deputy Minister of Transport, Musa Panahov said during the opening of the TransCaspian and Road &Traffic exhibitions in Baku.

These investments were made to develop the road transport infrastructure, building of bridges, crossings, viaducts, airports, a new port, and for purchasing vehicles, according to the deputy minister.

Swedish companies can invest in Azerbaijan's infrastructure and other areas

Swedish companies can invest in infrastructure of Azerbaijan and other areas.
This statement was made at the meeting of Azerbaijani Minister of Economy and Industry Shahin Mustafayev and a Swedish delegation led by Minister for Trade Ewa Björling.

Mustafayev stressed that Azerbaijan attaches great importance to international cooperation.
He emphasized the importance of expanding the legal framework in the development of relations with Sweden, signing an agreement on avoidance of double taxation.

"The priority is given to industry, metallurgy, petro-chemistry," Mustafayev said.
He added that the expansion of economic cooperation with Sweden will be beneficial to both sides.

June 14

Southern Gas Corridor to deepen Azerbaijani-EU economic cooperation

The Southern Gas Corridor will allow to deepen the economic cooperation between the European Union (EU) and Azerbaijan, European Commission President Jose Manuel Barroso said while delivering a lecture on 'European Union-Azerbaijan: new opportunities and challenges' at Azerbaijan's ADA university.

Rector of the ADA university, Hafiz Pashayev for his part, said that Azerbaijan cooperates with EU in various spheres, stressing that successful projects are implemented in the spheres of education, science and energy.

The rector pointed out that Azerbaijan is interested in the constant development of the relations with EU and implementation of new projects.

Barroso, in turn, said that a great progress has been achieved in Azerbaijan.

He went on to add that during the visit, the sides agreed to expand the cooperation in the sphere of education, stressing that as an exemplary educational institution, the ADA university can play a great role in this process.

Talking about the energy projects being implemented in Azerbaijan, Barroso said that the implementation of the Southern Gas Corridor project is among the joint priorities.

This project will allow to bring Azerbaijan's energy resources to the EU countries and to deepen the economic cooperation between Azerbaijan and EU, according to the European Commission president.

Emphasizing that this project will create as many as 30,000 jobs, Barroso said that it will contribute to Azerbaijan's economic development, as well as Europe's energy security.

European Commission president went on to add that the activities on visa facilitation between Azerbaijan and EU are underway, stressing that the progress in this sphere will facilitate the communication.

Azerbaijani President, European Commission President view Sangachal oil terminal

President of the Republic of Azerbaijan Ilham Aliyev and President of the European Commission Jose Manuel Barroso have visited the Sangachal oil terminal.

A delegation led by President of the European Commission Jose Manuel Barroso viewed the Caspian Energy Center.

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WHO roots for rapid diagnostic tests to boost COVID-19 war in Africa
Adidas plans to sell ailing Reebok business within months
Adidas plans to sell ailing Reebok business within months
Turkish Trade Ministry says export of domestic cars to China up
Turkish Trade Ministry says export of domestic cars to China up
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