Feb. 8
Azerbaijani property committee sets up board of appeals
A board of appeals was established at the Azerbaijani State Committee on Property Issues.
The Committee's new structure was established to ensure transparency and impartiality during consideration of complaints from entrepreneurs and protecting their rights and interests. The board of appeals was set up to execute Azerbaijani President Ilham Aliyev's decree "On Establishment of Boards of Appeals in Central and Local Executive Bodies in Azerbaijan", dated Feb. 3, 2016.
Azerbaijan's customs committee creates board of appeals
A board of appeals was established at the Azerbaijani State Customs Committee.
The new structure was established to ensure transparency and impartiality during consideration of complaints from entrepreneurs and protecting their rights and interests.
Feb. 10
Azerbaijani president doesn't sign amendments to law on currency transfer fees
Azerbaijani President Ilham Aliyev hasn't signed the amendments to the law "On currency regulation" and sent them back to the Milli Majlis (Parliament of Azerbaijan), the office of the country's presidential aide on economic reforms said. The message said that this was done taking into account numerous appeals of entrepreneurs and investors.
In accordance with the proposed amendments to the law, it was planned to introduce 20-percent mandatory fees to the state budget from the foreign currency transfer transactions beyond Azerbaijan by individuals and legal entities, who are residents and non-residents of the country, excluding some categories.
Baku hosts forum on taxes
The Tax Forum themed "Azerbaijani tax system: Realities and Prospects" has kicked off in Baku. Representatives of the Presidential Administration, Milli Majlis (Parliament of Azerbaijan), Cabinet of Ministers and other state bodies of the country, representatives of the relevant structures of the National Academy of Sciences, the World Bank, local banks, non-governmental organizations, associations of entrepreneurs and businessmen are taking part in the forum.
Feb. 11
Azerbaijan, Russia agree on tariffs for cargo traffic
Azerbaijan Railways CJSC and Russian Railways JSC came to an agreement on setting competitive tariffs for cargo transportation, Nadir Azmammadov, a spokesman for the Azerbaijan Railways, said. The agreement was achieved at a meeting between Javid Gurbanov, Azerbaijan Railways head, and Oleg Belozerov, Russian Railways president, in Moscow. The meeting was dedicated to the mutually beneficial cooperation between railway companies of the two countries, Azmammadov added.
The parties also discussed cargo transportation via a route between Russia and Azerbaijan, developing Azerbaijan's transit potential, as well as the project for the International North-South Transport Corridor, and attracting the interested countries to the project.
Feb. 12
Azerbaijan's AGBank, Bank Standard merging
Two Azerbaijani banks - the AGBank and Bank Standard have decided to merge. A protocol of intention has been recently signed in this regards, AGBank said. A work group, consisting of representatives of both banks, has been also created in line with a tentative agreement.
The group will work on implementation of a merger project.
Azerbaijan should develop IT cooperation with India
It would be useful for Azerbaijan to develop cooperation with India in the field of information technologies, Mammad Musayev, president of the National Confederation of Entrepreneurs of Azerbaijan, said in Baku. Musayev made this statement during the opening of the "Make in India" event. "India is a leading country in the field of information technologies," he said. "Azerbaijani entrepreneurs should take advantage of opportunities for cooperation in this sphere."
President Aliyev attends Energy Security Roundtable as part of Munich Security Conference
Azerbaijani President Ilham Aliyev, who is on a working visit to Germany, has attended the Energy Security Roundtable as part of the Munich Security Conference.
International Bank of Azerbaijan's authorized capital increased
The authorized capital of the International Bank of Azerbaijan (IBA) has been increased by 500 million manat and reached 1.141 billion manat upon a decision taken at the extraordinary meeting of the IBA shareholders, said the bank's message.
UK invested over $23B in Azerbaijan
UK has invested more than $23 billion in Azerbaijan's economy, Azerbaijani Economy Minister Shahin Mustafayev said in London. Mustafayev made the remarks during the first meeting of the intergovernmental commission on economic cooperation between Azerbaijan and the UK.
"UK is the largest investor of Azerbaijan," the minister said. "Currently, there are 473 companies with UK capital in Azerbaijan. UK's companies act as contractors in the projects being implemented in Azerbaijan."
A protocol was signed following the meeting. The protocol envisages the expansion of cooperation between the two countries in economic, investment, trade, industrial, tourism, energy, education and cultural spheres.
President Aliyev meets Kaspersky Lab CEO
President of Azerbaijan Ilham Aliyev met with Chairman and CEO of Kaspersky Lab Eugene Kaspersky in Munich. The sides expressed satisfaction with the cooperation of Kaspersky Lab with relevant bodies in Azerbaijan. The parties exchanged views over prospects for cooperation in the fight against cybercrime and other areas.
President Aliyev meets chairman of Eastern Committee of German Economy
President of Azerbaijan Ilham Aliyev met with chairman of the Eastern Committee of German Economy Wolfgang Buchele in Munich. The sides expressed satisfaction with the development of bilateral economic relations between Azerbaijan and Germany. During the conversation, the sides exchanged views over cooperation prospects.
President Aliyev meets Managing Director, CEO of Goetzpartners
President of Azerbaijan Ilham Aliyev met with Managing Director and Chief Executive Officer of the Goetzpartners Holding GmbH & CO. KG Stephan Goetz in Munich.
Stephan Goetz said Goetzpartners, which is one of the 10 largest consulting firms in Germany and has 12 offices in nine countries, said he was interested in operating in Azerbaijan. President Ilham Aliyev invited Goetzpartners to operate in Azerbaijan. The sides also discussed cooperation prospects.
Azerbaijan offers EBRD to co-op in development of macroeconomic frameworks for 2017-2020
Azerbaijan proposed the European Bank for Reconstruction and Development (EBRD) to cooperate in the development of macroeconomic frameworks for 2017-2020.
Azerbaijani Economy Minister Shahin Mustafayev made this proposal during a meeting with the EBRD President Suma Chakrabarti in London.
The minister also proposed the EBRD to invest in technological parks created in the country, support the organization of agro-parks, as well as to expand the bank's cooperation with credit unions, working with small and medium entrepreneurs.