Last week review (Oct.6-10)
IMF changes economic growth forecast of Azerbaijan until 2020
International Monetary Fund (IMF) forecasts GDP growth in Azerbaijan by 4.5 percent in 2014 and 4.3 percent in 2015, said the updated report on the prospects for the world economy World Economic Outlook, published on the foundation's web site.
GDP growth in Azerbaijan was predicted at 5 percent in 2014 and 4.6 percent in 2015, according to a previous forecast of the fund, released in June this year.
The decline of economic growth in CIS countries that export oil and gas in 2014-2015 is due to the fact that high energy prices only partially offset the impact of the recession in Russia, according to the report.
The Asian development bank forecasts 5 and 4.8 percent GDP growth in Azerbaijan in 2014 and 2015, respectively.
The World Bank forecasts the country's economy to grow by 5.2 percent in 2014, and 4.1 percent in 2015.
Azerbaijani agricultural companies look for new opportunities in Russia
Azerbaijani products are demonstrated at the 16th Russian agricultural exhibition Golden Autumn 2014 in Moscow, the Azerbaijani Ministry of Economy and Industry said.
Around 14 Azerbaijani companies producing and processing agricultural products are participating in the exhibition. These companies are engaged in the sale of fruits and vegetables, various fruit juices, jams, tomato paste, etc.
The exhibition is important for Azerbaijani companies in terms of presenting their products, increasing exports, expanding opportunities to enter new markets, the report said.
President Aliyev chairs meeting of Cabinet of Ministers
President of the Republic of Azerbaijan Ilham Aliyev chaired the meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in nine months of 2014 and objectives for the future.
Azerbaijani Entrepreneurs Confederation opening office in Italy
The National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan (AEC) will open an office in Italy, the AEC President Mammad Musayev told reporters.
Musayev made the remarks at a press conference held as part of the Days of Italy in Azerbaijan.
During the conference an agreement was signed to open the AEC office in Italy.
Manuela Traldi, the President of the Italy-Azerbaijan Trade Institute (ITAZERCOM) will be the AEC official representative in Italy.
Musayev said Italy became the fourth country after Turkey, Germany and Ukraine, where the AEC opened its office.
The AEC head said the main areas of cooperation with Italy are tourism, construction, textile industry, agriculture, processing, and transportation.