Last week review (July 14-18)

July 14

Azerbaijani entrepreneurs obliged to inform Customs Union's authorities on imported goods

From October 1, 2014 additional requirements will be applied on the goods imported into the territory of the Customs Union, according to a message from the Azerbaijani Economy and Industry Ministry.

"In accordance with the decision of the Board of the Eurasian Economic Commission (EEC) notification in advance will be applied to goods imported into the territory of the Customs Union. The Azerbaijani entrepreneurs importing goods into the territory of the Customs Union's member-states may obtain further information on the EEC website," the ministry said.

Under the decision, the carrier, including customs carrier, performing the import of goods by railway to the single customs territory in the Customs Union, should submit preliminary information about it no less than two hours prior to their movement across the customs border of the Customs Union.

Azerbaijani president meets with Italian prime minister

President of the Republic of Azerbaijan Ilham Aliyev met with Prime Minister of the Italian Republic Matteo Renzi in Rome.

During the meeting, the parties expressed satisfaction with the development of Azerbaijan-Italy bilateral relations in political economic and other fields. It was noted that the relations between the two countries reached strategic level.

The sides said there are good prospects for energy cooperation. The importance of President Ilham Aliyev's official visit was emphasized in terms of the development of the bilateral ties.

The parties also discussed other issues of mutual interest.

July 15

Baku Metro's authorized capital to be about $2.3 bln

Azerbaijani State Securities Committee (SSC) registered the issue prospectus of ordinary undocumented nominal shares of the Baku Metro CJSC.

The issue volume is 1.77 billion AZN.

Some 125,244,043 shares at par value of 14.14 AZN each were registered as part of the issue.

The initial placement will be held privately.

July 16

Azerbaijan purchases two Embraer aircraft

Brazilian Embraer signed a firm order for two additional E190 jets with Azerbaijan Airlines (AZAL), Embraer's message said.

The aircraft will be deployed on the carrier's international network from Baku's Heydar Aliyev International Airport (GYD).

The total value of the contract is $95.4 million. With this order, now AZAL will operate six E190.

Currently, AZAL's fleet consists of Boeing 757-200, Boeing 767-300, Airbus 319, Airbus A320, Airbus A340-500, Embraer ERJ 170-100LR and Embraer ERJ 190-100.

WB allocates $150 mln for expansion of water supply project in Azerbaijan

The World Bank's Board of Executive Directors approved Additional Financing for the Second National Water Supply and Sanitation Project (NWSSP 2) in Azerbaijan, according to the bank's website.

The additional financing in the amount of $150 million will be directed to the improvement of the quality and reliability of the water supply and to expand water supply and sanitation services in selected regional centers in Azerbaijan.

The share of the Azerbaijani government in this project will be $83 million. The duration of the project will be extended until December 31, 2017 within additional funding.

Azerbaijan's economy and industry ministry sets priorities

The Economy and Industry Ministry of Azerbaijan set priorities in its activity.
The corresponding decisions were adopted at an enlarged meeting of the ministry's board on the ministry's tasks assigned by President Ilham Aliyev at a cabinet of ministers meeting.
The Board Chairman, the Minister Shahin Mustafayev gave specific instructions to the ministry's structural units on the quality and timely execution of the tasks that were assigned by the president at the cabinet of ministers meeting.

The board meeting also made a decision to develop an action plan for the execution of these tasks.

July 17

Volume of Azerbaijan's export potential for electricity announced

Annual export potential of the electric power industry of Azerbaijan makes up 6 billion kilowatt/hour, the Deputy Director of Energy Department of the Azerbaijani Ministry of Industry and Energy, Asaf Rzayev said.

He made the remarks at an event of the INOGATE program for Azerbaijan.
The country's energy capacity grew by 40 percent over 10 years and reached 7,100 megawatts, he said.

This, in turn, indicates to the export potential of 2,300 megawatts.

At present, the electricity potential of Azerbaijan is based on 14 thermal and 10 hydroelectric power plants, according to Rzayev.

Denim production to be launched at textile enterprise in Uzbek Bukhara region
Denim production to be launched at textile enterprise in Uzbek Bukhara region
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USAID provides comprehensive support to entrepreneurship dev’t in Turkmenistan
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Uzbekistan to make strengthening relations with states of Central Asia priority
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