Last week review (June 23-27)

June 23

Qabala hosts fifth Azerbaijani-Russian interregional forum

The fifth Azerbaijani-Russian interregional forum "Interregional cooperation: new opportunities for growth" started in Azerbaijani region of Qabala.

"This forum is an example of successful cooperation between the two countries, based on the good-neighborliness and friendship principles," Azerbaijani Minister of Economy and Industry Shahin Mustafayev said.

The sides discussed cooperation prospects in energy, transport and consider the possibility of expanding cooperation in the sphere of tourism, investments, agriculture at a two-day forum.

Iran invites Azerbaijani entrepreneurs to take part in number of exhibitions

Iranian embassy in Azerbaijan has announced a number of exhibitions to be held in Iran in 2014 and 2015, inviting Azerbaijani entrepreneurs as well to take part in them, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said.

"The exhibitions are devoted to such areas as metallurgy, ICT, digital services, engineering, railway transport, as well as architecture, construction technologies, medicine, banking, insurance and other areas," according to a message.

June 24

Quality of Azerbaijani banks' loan portfolio returns to pre-crisis levels, CBA says

The quality of Azerbaijani banks' loan portfolio has returned to the pre-crisis level, Azerbaijani Central Bank (CBA) Director General, Rashad Orujov said at a roundtable meeting titled 'Development of inter-bank cooperation between Russia and Azerbaijan' as part of the 5th Azerbaijani-Russian interregional cooperation forum, held in the city of Gabala.

"The loan portfolio's quality is very good - the bad loans do not exceed 6 percent, this is quite a low figure. The important thing is that reserves have already been created on 80 percent of such loans, and we can say that, in fact, the share of unmanaged loans is about 2 percent, and we returned back to the figures of 2008," Orujov said.

Azerbaijan, Russia sign 11 documents on cooperation

Azerbaijan and Russia signed 11 documents on cooperation on the results of the 5th Azerbaijani- Russian forum of interregional cooperation which was held in Gabala.

A memorandum of understanding was signed between the Azerbaijani Ministry of Economy and Industry and the Russian Ministry of Regional Development.

The cooperation agreements were signed among the Astrakhan Tourist Union and Azerbaijan Tourism Association, the Ural tourism association and Azerbaijan Tourism Association, between the "Astrakhan regional channel" LLC and the regional TV of Azerbaijan. Furthermore, a memorandum of understanding was signed between the Russian investment agency and the Azerbaijani Fund Export and Investment Promotion (AZPROMO).

The agreements on the cooperation have been signed with a number of Azerbaijani and Russian companies within the framework of the forum.

Azerbaijan, Russia prepare roadmap to construct border bridge over Samur River

Azerbaijan and Russia have prepared a roadmap for construction of a border bridge across the Samur River, Russian Deputy Transport Minister Sergei Aristov said at a plenary session of the 5th Azerbaijani-Russian interregional cooperation forum, held in Gabala.

"Our experts have prepared a roadmap for the project's implementation, including timeframes, targets and all the necessary documents," he said.

Aristov also said the issues regarding the trilateral project on construction of a new railway between Azerbaijan, Russia and Iran were discussed at the roundtable meeting held as part of the forum.

Aristov also noted that the restoration of trips between Baku and Astrakhan ports was also discussed. He added that there is no obstacle for this on the Russian side.

June 25

Azerbaijan Caspian Shipping Company conducts asset revaluation

Azerbaijan Caspian Shipping Company CJSC is negotiating with major international companies on the preparation of the development strategy of the company for the following 15-20 years, the CJSC head, Rauf Valiyev made the remarks at the event dedicated to the celebrating Sailor`s Day in Azerbaijan.

The main task set before the company is to maintain its position in the freight market under the competitive environment in the Caspian Sea, he said.

Valiyev also noted presently work is being carried out on the revaluation of assets of the company and determination of their market value within restructuring of the CJSC and its future development.

Azerbaijan significantly improves positions in UN ranking on e-government development

Azerbaijan ranked the 68th in the UN world rankings on e-government development, according to the "United Nations E-Government Survey 2014: E-Government for the Future We Want" report.

Azerbaijan has moved 28 points forward compared to the previous rating held in 2012.

The countries in the rating E-Government Survey 2014 are ranked depending on the E-Government Development Index (EGDI), which is a composite indicator that measures the willingness and ability of governments to use ICT to provide services to the public.

The index covered 193 countries.

June 27

Azerbaijani steel producer signs major contract for purchasing special equipment

Dashkesen Filizsaflashdyrma JSC, which is a part of Azerbaijan Steel Production Complex CJSC, has signed a leasing and warranty contract for supply of mining trucks from Belarus.

The enterprise will purchase some 12 BelAZ-7547 and BelAZ-75131 mining trucks under the contract signed with the Irridio Motors leasing company of the BelAZ CJSC.

The agreement has been signed for four years with the rate of four percent per annum.
The load bearing capacity of 10 purchased BelAZ-7547 trucks is 45 tonnes, while the bearing capacity of two BelAZ-75131 trucks is 140 tonnes.

The vehicles will be used in production of iron ore. Their use will reduce the cost of production at least by 20 percent.

June 28

Southern Gas Corridor historic project, initiated by Azerbaijan, President Aliyev says

Today, the national security of the countries cannot be separated from energy security, Azerbaijani President Ilham Aliyev said at the opening ceremony of the 23rd Annual Session of the OSCE PA in Baku.
The president said Azerbaijan is the first country in the world to connect the Caspian Sea, Black Sea, Mediterranean Sea, and has diversified the network of pipelines.
"That allowed us to diversify our supply roots, and do not depend on any supply route, which is important for us as producers. And we also helped our partners to diversify, to get additional energy resources," he said.

"The EU-Azerbaijan relations are also partly based on energy cooperation and in a memorandum that was signed between the President of the European Commission and me, Azerbaijan was identified as the main supporter and enabler of the Southern Gas corridor," President Aliyev said, adding that the Southern Gas Corridor is a historic project, initiated by Azerbaijan.

"We have taken the biggest financial burden, the biggest responsibility, and we are implementing this project," the president said.

Azerbaijani logistics center to be founded in Aktau

The construction of the "Azerbaijani production and logistics center" started in Aktau, the Azerbaijani Ministry of Economy and Industry said.

"A delegation headed by Minister Shahin Mustafayev attended the ceremony," according to a statement.

Baku held Azerbaijani-Kazakh business forum.

Uzbek-Korean JV names volume polyethylene output in 2020
Uzbek-Korean JV names volume polyethylene output in 2020
Benefits provided for Uzbek entrepreneurs likely to be extended
Benefits provided for Uzbek entrepreneurs likely to be extended
Uzbekistan, Turkey to work on approving agreement on preferential trade
Uzbekistan, Turkey to work on approving agreement on preferential trade
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Over 40 dead after migrant boat capsizes off Libya: UN agencies
Joe Biden sworn in as 46th President of the United States
Kazakhstan to develop strategies to ensure financial stability in banking sector
Iran’s FM to visit Azerbaijan
COVID-19 vaccinations in Turkey exceed 1 million in 1st week
CBI Governor says part of Iranian frozen assets released
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French online newspaper publishes article about January 20 tragedy
Memory of victims of January 20 tragedy honored in Azerbaijan’s Shusha city (VIDEO)
Turkish Foreign Ministry honors memory of Azerbaijani martyrs of January 20, 1990 tragedy in Baku
Turkish Ministry of National Defense talks January 20, 1990 tragedy in Baku
Azerbaijan confirms 897 more COVID-19 recoveries
Iran unveils amount of saved money by major mining companies
Anniversary of January 20 tragedy marked in Azerbaijan's Shusha
Events of Jan.20, 1990 divided life of Baku citizens into "before" and "after"
Kazakhstan bans import of Azerbaijani tomatoes
Review of Georgian exports to China
Azerbaijani troops hold several events in connection with January 20 tragedy (PHOTO/VIDEO)
Georgia increases wine exports to Azerbaijan
Azerbaijan becomes Georgia's second export partner
Kazakhstan reports decrease in mutual trade volume with Vietnam
Geostat reveals data on China's exports to Georgia
Iran reveals COVID-19 data for January 20
Turkey mobilized to support Azerbaijan in post-war period, says ambassador
Uzbek-Korean JV names volume polyethylene output in 2020
Container shipping rates surge in Georgia
Passenger transportation volume by road surges in Kazakhstan
Georgia may lift restrictions on international flights
Georgia sees decrease in electricity consumption
January 20 events of 1990 aimed to strangle Azerbaijan’s fight for independence – historian
Turkmenistan’s Mary State Power Plant names production indicators of 2020
Iran dismisses having any 'secret talks' with Biden's team to bring US back to JCPOA
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Central Bank reveals volume of property appropriated by Georgian commercial banks
Kazakhstan's Baikonur Cosmodrome starts launching works for 2021
Azerbaijani Kapital Bank’s total assets increase as of 2020
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Exports of Iran's steel products declines
French ambassador to Azerbaijan talks about January 20 tragedy
Turkmen carpet weaving enterprise reveals production volume
Iran may cancel additional protocol on nuclear deal - Foreign Policy Commission
Azerbaijan keen to develop relations with Turkey, Pakistan in almost all spheres
Azerbaijani people honoring memory of 20 January tragedy victims (PHOTOS)
Caspian Shipping Company’s marine flotilla reveres memory of January 20 martyrs (VIDEO)
Armenians destroyed mausoleum of outstanding Azerbaijani poet in Shusha - monitoring results
Azerbaijan's State Service for Property Issues unveils amount of transfers to state budget
Supply of Indian manufactured vaccines to neighbouring and key partner countries
Azerbaijan progresses with cotton yields in 2020
EU's Michel calls on Biden to form new transatlantic pact
Jewish community in Azerbaijan revere memory of victims of January 20 tragedy
India to gift 2 mn doses of Covid-19 vaccine 'Covishield' to Bangladesh
India, Japan sign Memorandum of Cooperation to help promote movement of skilled workers
Georgia reports 469 new COVID-19 cases for Jan.20
UK ambassador to Azerbaijan makes statement on January 20 tragedy
Benefits provided for Uzbek entrepreneurs likely to be extended
Share of domestic exports up in Georgia
Azerbaijan discloses number of mandatory health insurance services in 2020
Azerbaijani president, first lady visit Alley of Martyrs on 31st anniversary of 20 January tragedy (PHOTO)
India, Oman Hold Discussions On Bilateral Cooperation
Turkmenistan's Turkmengas to buy chemical products via tender
Uzbekistan, Turkey to work on approving agreement on preferential trade
Azerbaijan’s Kapital Bank reveals 2020 net profit
EU Delegation mourning victims of “Black January” tragedy - statement
Copper ores and concentrates top export goods in Georgia
Azerbaijan holds minute of silence to honor January 20 victims (PHOTOVIDEO)
Modi gets SOS message for vaccine from Caribbean nation that stood by India
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Iran’s South Pars Gas Company beats new record on export
First Vice- President Mehriban Aliyeva shares Instagram post on 20 January tragedy (PHOTO)
Uzbekistan’s Central Bank to place bonds on republican currency exchange
Georgia sees decrease in external merchandise trade
Turkmenistan's Mary region opens tender for construction
Turkmenistan signs contract for aircraft purchase from French Airbus
UK inflation rises a little more than expected in December
Largest share of mortgage loans falls on Uzbekistan’s Samarkand region
Article on Black January tragedy of Azerbaijani Consul General in LA published
EU4Business supports expansion of Georgia’s biggest digital creative agency to global markets
Кazakh Electricity Grid Operating Company to buy construction materials via tender
Azerbaijani oil prices continue to grow
Phased COVID-19 vaccination continues in Azerbaijan - Ministry of Health
Kazakh Embassy extends condolences to Azerbaijan on 20 January tragedy's anniversary
Number of Uzbek banks raise dollar rate
EBRD names loans volume provided for Uzbekistan during COVID-19
EBRD, State Electricity System of Georgia implement new energy project
Uzbekistan names start date for vaccination against COVID-19
Azerbaijani Ministry of Agriculture holds meeting on results of cotton growing dev't (PHOTO)
Azerbaijani company reveals growth in 2020 total insurance revenues
Aide to Azerbaijani president shares post on Twitter on anniversary of 20 January tragedy (VIDEO)
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Iran, Cuba joint COVID-19 vaccine to begin new phase of testing in Havana
Iran, Iraq discuss transit operations
Electricity generation potential of Iran's Kerman Province announced
Russia's Gazprom increases purchases of natural gas in Turkmenistan
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