Last week review (Apr.7-10)

April 6

Azerbaijani president meets with president of Islamic Development Bank Group

President of the Republic of Azerbaijan Ilham Aliyev has met with President of the Islamic Development Bank Group Ahmad Mohamed Ali in Jeddah. The parties exchanged views over the issue of involving other partners in the bilateral cooperation.

April 7

SOCAR decides on EPC-contractor for polypropylene production project

Companies Tecnimont and Kinetics Technology, which are part of the Maire Tecnimont group, reached an agreement with SOCAR (State Oil Company of Azerbaijan) for the implementation of EPC-contract for the construction of polypropylene production within the framework of the SOCAR Polymer project. The total contract value is approximately 350 million euros. The contract provides for rendering full technical services, procurement, installation work and construction activity before commissioning the project, as well as its trial.

SOCAR Polymer project is implemented in Sumgait Chemical Industrial Park. This project will make it possible to produce 180,000 metric tons of polypropylene and 120,000 metric tons of polyethylene per year. Most of the production is planned to be sent to markets of Turkey and countries of Western Europe.

April 8

Turkey, Azerbaijan play significant role in bringing region's states together

Turkey and Azerbaijan play a significant role in bringing together and enhancing the relations between the region's countries, head of the Public and Political Issues Department of Azerbaijani Presidential Administration, presidential aide Ali Hasanov said during his visit to Turkey. Hasanov attended the 18th Eurasian Economic Summit organized by the Marmara Group Foundation. "As a formation that brings together more than 30 countries, the Eurasian Economic Summit is important not only in bringing Turkey and Azerbaijan together but also in increasing the relations between countries in the region."

April 9

EU expects first gas to come from Azerbaijan in 2020

The European Union expects the first gas to come from Azerbaijan as part of the Southern Gas Corridor project in 2020, the head of the EU delegation to Azerbaijan, Malena Mard, said. She made the remarks at the 8th Caspian Oil and Gas Trading and Transportation Conference, held in Baku, Azerbaijan. "Azerbaijan is an important trade partner of the EU," Mard said. "We look forward to the further expansion of trade relations with Azerbaijan."

She added that the bases for a long-term cooperation in the energy sector were laid with the launch of the Southern Gas Corridor project. "For its part, the EU will do everything necessary to complete the work on time. We have no doubt in the timely implementation of the project and look forward to receiving Azerbaijan's gas in 2020," Mard further noted.

Azerbaijan's TASIM project comparable with TANAP in terms of importance

The Trans-Eurasian Information Super Highway (TASIM) will be at least as important as the Trans Anatolian Natural Gas Project (TANAP), Azerbaijan's Minister of Communications and High Technologies Ali Abbasov said.

When TASIM will be [fully] realized, it will be as important as TANAP, said the minister in the interview with Hurriyet Daily News, during the visit to Istanbul.

Abbasov said Baku and Ankara have a joint project that will open access for Azerbaijani and Turkish businessmen to the markets of the two countries and expand the export and trade opportunities of the two countries' companies.

ADB approves business plan for operations in Azerbaijan for 2015-2017

The Asian Development Bank (ADB) has approved the business plan for operations in Azerbaijan for 2015-2017, the bank said. Under the new business plan, in 2015-2017, Azerbaijan will receive funds from ADB only as ordinary capital resources. Approximate resources available to finance sovereign operations in 2015-2017 will amount to $586 million, and the proposed lending program - $715 million. ADB funds will be spent on water, transport and energy projects.

Government of Afghanistan waits for Azerbaijani investments

"Azerbaijan and Afghanistan have agreed to use the full potential to intensify cooperation," Afghanistan's Minister of Mines and Petroleum Daud Shah Saba said, commenting on the talks in Baku. "I hope that this visit will contribute to increasing the level of cooperation, in particular create opportunities for Azerbaijani investments in Afghanistan."

Daud Shah Saba and Special Representative of President of Afghanistan for CIS states Mohammad Shaker Kargar are on visit to Azerbaijan. During the visit, Afghan officials hold meetings with Azerbaijani leadership.

April 10

Azerbaijan set no bans on issuing credits in national currency

The Central Bank of Azerbaijan (CBA) did has not prohibited banks to issue credits in manats, the CBA said. The Central Bank has denied the information spread by some media outlets about the ban on lending in manats. "By the law, banks operating in the country are free to choose in which currency to lend," said the message.

Currently, the country's banks continue to issue credits both in national and foreign currencies, the Central Bank said.

President Aliyev: Azerbaijan's dynamic development not affected by sharp decline in oil prices

The sharp decline in oil prices on world markets has not affected the dynamic development of Azerbaijan, said the country's President Ilham Aliyev. He made the remarks at a meeting of the Cabinet of Ministers dedicated to the social and economic development in the first quarter of 2015 and the tasks ahead.

The president said the results of the first quarter of 2015 were positive, and the GDP grew by over five percent in this period. He added that a dynamic development was ensured in Azerbaijan, and in the last three months, the non-oil sector grew by over seven percent, industrial production by four percent, and agriculture by three percent.

April 11

President Ilham Aliyev reviews tea processing factory of Astarachay LLC

President of the Republic of Azerbaijan Ilham Aliyev has reviewed a tea processing factory of Astarachay LLC.

President Ilham Aliyev was informed that Astarachay farm was created in 2010. The farm occupies a total area of 640 hectares. Tea plantations cover an area of nearly 400 hectares.
The tea processing factory has been built on the basis of a layout made by a South Korean company. The facility, which occupies a total area of 4.5 hectares, has state-of-the-art weighing and folding equipment.

UAE’s activity on Turkmenistan’s exchange in November
UAE’s activity on Turkmenistan’s exchange in November
Kazakhstan Development Bank to co-op to promote EAEU integration
Kazakhstan Development Bank to co-op to promote EAEU integration
Karabakh to become ecotourism center of regional importance - Association of Hotels and Restaurants of Azerbaijan
Karabakh to become ecotourism center of regional importance - Association of Hotels and Restaurants of Azerbaijan
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Azerbaijan ramps up goods exports via stationary transport
UAE’s activity on Turkmenistan’s exchange in November
Azerbaijan confirms 4,267 new COVID-19 cases, 2,566 recoveries
Kazakhstan Development Bank to co-op to promote EAEU integration
Karabakh to become ecotourism center of regional importance - Association of Hotels and Restaurants of Azerbaijan
Oil moves up towards $50/bbl after OPEC+ supply compromise
Number of COVID-19 infections in Russia increases by 27,403 in 24 hours
Turkish minister to get acquainted with construction progress of Kars logistics center
International law firms enter Georgian market
EU urges countries to keep COVID in check over festive season
Baku cathedral parishioners honor memory of martyrs of Azerbaijan's Patriotic War (PHOTO)
Bank of Israel intervenes in foreign exchange market
Turkey, Iran commemorating Azerbaijani martyrs of Patriotic War
Uzbekistan’s volume of media market up in 2021
Kazakhstan, Russia agree on steps to expand co-op in geology
Iran-Iraq Joint Trade Commission to be established soon
Karabakh can become leading IT Hub in South Caucasus, says Azerbaijani analyst
Kazakhstan to launch manufacturing of Russian anti-COVID vaccine before year-end
Ganja honors memory of martyrs of Azerbaijan's Patriotic War (PHOTO)
Substantial NATO-Georgia Package updated at meeting of NATO Ministers of Foreign Affairs
Belonging of Nagorno-Karabakh region determined upon relevant UN Security Council’s resolutions - press secretary of Russian president
UNHCR reveals details of joint meeting with Turkmenistan to end statelessness
Kazakhstan ups trade with Turkey for 10M2020
EBRD reduces its equity stake in Georgian TBC Bank
TAP to hold market test to double capacity
Second Karabakh war - brightest page in national memory of Azerbaijan, says Russian cleric
Azerbaijan presents musical composition commemorating martyrs of Patriotic War (VIDEO)
Amnesty International unveils photo proof of Armenian-inflicted damage in liberated Kalbajar (PHOTO)
Iran to increase revenue by development of gas transmission
Energy Commission of Iranian Chamber of Commerce discusses oil revenue forecast
9 Azerbaijani gymnasts return from European Championships with medals - head coach
Ukraine to continue supporting Azerbaijan's territorial integrity
Mountain Jewish Community honors memory of martyrs of Azerbaijan’s Patriotic War (PHOTO)
UNHCR talks cooperation with Turkmenistan on fight against statelessness
ENI to support activities of center to develop oil&gas engineering in Kazakhstan
Beeline mobile operator working in Khankendi city - fake news, Russian web portal says
Azerbaijan Banks Association to develop digital payment ecosystem
Trade takes up largest share in total turnover of Georgian business sector
Uzbekistan considers production of Bentley electric vehicles
Iran's Minister of Petroleum discusses OPEC+ meetings
Kazakhstan more than doubles petroleum oil exports to Croatia
Caspian Drilling Company updates on Satti rig upgrade
Gold price in Azerbaijan up
Kazakhstan, Austria trade turnover down year-on-year
Turkmenistan exploring possibility of producing cement from local raw materials
Turkmenistan working to maintain technical condition of gas pipelines
OPEC+ decision: Oil glut could be hitting the market soon
Georgia hits record high COVID-19 daily cases
Azerbaijan Banks Association implementing new banking services project
Georgia plans to subsidize the interest on leasing for event companies
Georgian business sector shows downward trend in production
German industrial orders rise more than expected in October
Azerbaijan launches joint ATM network of commercial banks
Clients of closed banks in Azerbaijan continue receiving compensations
Kazakhstan doubles exports to Croatia despite COVID-19 pandemic
Any threats against Azerbaijan's territorial integrity must be averted, Erdogan tells Rouhani
Azerbaijan commemorates bright memory of martyrs with minute of silence (VIDEO)
President Ilham Aliyev, first lady Mehriban Aliyeva pay tribute to Azerbaijani martyrs (PHOTO/VIDEO)
Kazakhstan launches electricity production project in its Mangystau region
FAO supports innovation in Uzbekistan’s silk industry
Baku Refinery exceeds plans for crude oil refining
Azerbaijani oil price on the rise
Uzbekistan to introduce mechanism for calculating property tax based on cadastral value
New fresh water deposits discovered in Turkmenistan
Kazakhstan records improving main indicators of stock market
Karabakh conflict was resolved by military-political means - President of Azerbaijan
French government does not recognize independence of Karabakh - ambassador
During last 2 years, Armenia deliberately destroyed negotiation process - President of Azerbaijan
Until last moment Armenia by all means tried to undermine preparatory process to hold UN Special Session - President Aliyev
Oil prices jump after OPEC+ inks supply compromise
It was inevitable to ensure implementation of UN Security Council resolutions by force - President Aliyev
Azerbaijan taken timely, necessary preventive measures to stop coronavirus spread - President Aliyev
Since pandemic outbreak in Azerbaijan, country is in close contact with WHO - president
REAP to promote introduction of sustainable production in Uzbekistan, Tajikistan
Uzbekistan eyes to significantly reduce coal mining cost at Shargun deposit
Turkmenistan, Italy identify priority areas of cooperation
There is great need for joint efforts of int'l community to counter COVID-19 - President Aliyev
Opportunities to accept payments through bank cards developing in Azerbaijan
President Ilham Aliyev: We remember our martyrs with respect (PHOTO)
Azerbaijan continues digitalization of various structures
China’s trade partners frustrated with frozen food coronavirus tests
Turkish Embassy extends condolences regarding Azerbaijan's martyrs
Azerbaijan supports OPEC+ decision on rising crude oil production
Turkish Erzurum Airport reduces cargo, passenger traffic in 10M2020
Azerbaijani president addresses Special Session of UN General Assembly in response to COVID 19 pandemic
Euronews airs story about Tartar's Sugovushan village, liberated from Armenian occupation (VIDEO)
French ambassador to be summoned to Azerbaijan's MFA
Turkish Dervisoglu eyes to set up production in Kazakhstan with further export to US
Azerbaijani currency rates for Dec. 4
Azerbaijan sees year-on-year decline in imports from Israel
Natural gas to become leading source in global energy mix by mid-century
Kazakhstan takes on new responsibilities to cut oil output within OPEC+ deal
South Korean Ambassador to Turkmenistan completes diplomatic mission
Uzbekistan reveals its COVID-19 data for December 4
Russian-Kazakh uranium venture opens tender for wells maintenance
Destructive position of Armenia drags it into abyss - Azerbaijan's MFA
Iran says plan to exit NPT not contradictory with IAEA-related issues
Nasdaq apologises for Australia stock exchange outage
Number of coronavirus cases worldwide exceeds 65 million - Johns Hopkins University
Khaf-Herat railway to be officially inaugurated in 10 days
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