Last week review (Jan.26-30)

Jan. 26

Azerbaijani transport sector in 2014 receives $ 2.5 B

Some $ 2.5 billion was invested in the transport sector of Azerbaijan in 2014 from various sources, Transport Minister Ziya Mammadov said during a conference on the theme: "The use of new technologies and innovations in the construction and reconstruction of road infrastructure."

He said that out of the total funds invested in the transport sector of the country, $ 1.9 billion has been spent on the development of road and transport infrastructure.

The minister said that 11,000 kilometers of roads and about 300 bridges were built in the country over the past 10 years.

Azerbaijan, Gabon to expand customs cooperation

Gabon is interested in cooperation with Azerbaijan in various spheres of the economy, including customs, Gabon's Minister Delegate for Economy, Investment Promotion and Planning Marie Julie Biloghe said at a meeting with Chairman of the State Customs Committee of Azerbaijan Aydin Aliyev in Baku.

Biloghe informed Aliyev about recent achievements in economic and tourist potential of Gabon.

Jan. 27

Azerbaijani president attends conference on state program

President of the Republic of Azerbaijan Ilham Aliyev has attended a conference on outcomes of the first year of implementation of the "State Program on socio-economic development of districts of the Republic of Azerbaijan in 2014-2018" at the Heydar Aliyev Center.

The president gave an opening address at the conference.

Then Minister of Economy and Industry Shahin Mustafayev, Minister of Agriculture Heydar Asadov, chairman of "Melioration and Water Management" OJSC Ahmad Ahmadzade and chairman of "Azersu" OJSC Gorkhmaz Huseynov delivered speeches at the event.

The president made the closing remarks.

Jan. 28

Georgia, Azerbaijan discuss transport cooperation

Transport cooperation issues were discussed during a meeting of Georgian Prime Minister Irakli Garibashvili and Azerbaijani Transport Minister Ziya Mammadov.

The sides discussed bilateral cooperation in the transport sector, the Georgian government. They paid special attention to the Baku-Tbilisi-Kars (BTK) railway project.

Mammadov together with Georgian Economy Minister will attend a test train official launching ceremony in Kartsakhi as part of the Baku-Tbilisi-Kars (BTK) railway construction project.

President Aliyev receives Iranian minister of economic affairs and finance

President of the Republic of Azerbaijan Ilham Aliyev received a delegation led by Minister of Economic Affairs and Finance of the Islamic Republic of Iran Ali Tayebnia.

President Ilham Aliyev noted that there are good opportunities for cooperation between the two countries in the economic sphere.

The head of state recalled a visit of President of the Islamic Republic of Iran Hassan Rouhani to Azerbaijan, and stressed the importance of a business forum held as part of the visit with the participation of the two countries` businessmen.

Jan. 29

Azerbaijan, Iran to examine possibilities for mutual investment

Azerbaijan and Iran are creating a working group for cooperation in the investment area.
In this connection, the Azerbaijan Export & Investment Promotion Foundation (AZPROMO) and the Organization for Investment, Economic and Technical Assistance (OIETAI) of Iran's Economy Ministry signed a memorandum of understanding in Baku.
Sadegh Akbari, the OIETAI general director for foreign economic relations, said that the memorandum stipulates studying the opportunities for mutually making investments in the both countries' economies, the settlement of the problems of foreign investors operating both in Azerbaijan and in Iran. He added that a working group of 10 representatives of government bodies and private sector has been created.

Jan. 31

Standard & Poor's confirms investment rating of Azerbaijan

Standard & Poor's Ratings Services confirmed the international credit rating of Azerbaijan at the investment level "BBB-" with a "negative" outlook, said the report of the ministry of finance of Azerbaijan, published on its website.

Azerbaijan has a very low external debt level and a quite strong fiscal and external position (assets), according to the rating.

S & P explains the change of the outlook to "negative" by the fact that if Azerbaijan does not take preventive measures, the sharp fall in oil prices in the world can lead to a possible weakening of the current fiscal and external position of the country.

Kazakhstan bans import of Azerbaijani tomatoes
Kazakhstan bans import of Azerbaijani tomatoes
Georgia increases wine exports to Azerbaijan
Georgia increases wine exports to Azerbaijan
Azerbaijan becomes Georgia's second export partner
Azerbaijan becomes Georgia's second export partner
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Oil rise on hopes of U.S. stimulus and crude stocks drawdown
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