Last week review (March 14-18)

March 14

Deloitte offers Azerbaijan to apply new customs regime

Deloitte international audit company has offered Azerbaijan to consider an opportunity of establishing the free customs zones and applying the customs regimes for product processing, Emil Garayev, senior manager at Deloitte's tax and legal department, said at a conference dedicated to the development and future prospects in the customs system, organized by the American Chamber of Commerce in Azerbaijan (AMCHAM). He said that the duties and taxes imposed on imported products pose certain obstacles to the importers' activity. Garayev added that therefore, the new regime can be one of the compromise solutions. "Processing of goods on the customs territory is a certain regime," he said. "During this regime, the imported products are used on the territory for processing by fully exempting from customs duties if the processed products are taken from the customs territory at a certain period."

China intends to expand co-op with Azerbaijan in transportation sphere

China attaches great importance to the development of transportation corridors and is ready to expand the cooperation with Azerbaijan in this and other spheres, China's Foreign Minister Wang Yi said. He made the remarks during the meeting with Azerbaijan's Foreign Minister Elmar Mammadyarov who is on a working visit to China.

Mammadyarov, for his part, said Azerbaijan supports the Silk Road Economic Belt project initiated by China, adding that Azerbaijan is an important part of East-West and North-South transportation corridors.

March 15

Azerbaijan, South Korea expanding co-op in maritime transport

Azerbaijan's State Maritime Administration and the Ministry of Oceans and Fisheries of the Republic of Korea signed two memorandums of understanding, the administration's press service reported.

"Memorandum of Cooperation between the State Maritime Administration of Azerbaijan and the Ministry of Oceans and Fisheries of the Republic of Korea" and "Memorandum of Understanding on mutual recognition of certificates (diplomas) issued on the basis of the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, 1978" were signed.

Azerbaijan, Turkey ink 6 documents

Azerbaijan and Turkey signed six documents in Ankara after the fifth meeting of the Turkey-Azerbaijan High-Level Strategic Cooperation Council.

The signing ceremony took place with participation of the President of Azerbaijan Ilham Aliyev and his Turkish counterpart Recep Tayyip Erdogan.

Azerbaijani parliament passes report on governmental activity-2015

The Azerbaijani parliament passed a report at a plenary session. The report concerned the activity of the Azerbaijani government in 2015. While discussing the report, Ogtay Asadov, speaker of the Azerbaijani parliament, said that in terms of intensifying the negative trends, decline in economic activity, the country's GDP growth by 1.1 percent in 2015 is satisfactory. "The growth of economy was mainly achieved through the non-oil sector, including non-oil industry," he said.

March 16

Azerbaijani banks to reserve 1% of deposits in Central Bank

The Central Bank of Azerbaijan (CBA) has increased the reserve requirements for the deposits in foreign currency from 0.5 percent to one percent. This is while the reserve requirements for deposits in national currency, as well as for securities have remained unchanged (0.5 percent). The changes will be effective from May 1, 2016.

March 17

Swiss company becomes Azerbaijani Sumgait Chemical Park's resident

The Swiss company SIKA has become a resident of the Sumgait Chemical Industrial Park, said Niyazi Safarov, the Azerbaijani deputy economy minister. He made the remarks at the presentation of the park's residents in Baku. The number of the Sumgait Chemical Industrial Park's residents has reached six. SIKA will be engaged in the production of raw materials for building mixtures and finished products, according to him.

The director of Sumgait Chemical Industrial Park Nazim Talibov noted that the company will build a plant with annual production capacity of 5,000 tons on the park's territory.

The initial investment of the Swiss company in Sumgait Chemical Industrial Park will be $5.3 million. The company was established in 1910 and it has over 150 factories and plants in 80 countries of the world.

March 18

Azerbaijan, Malaysia open direct air traffic

Azerbaijan's freight air carrier Silk Way West Airlines signed an agreement with Malaysia Airlines Cargo, Malaysian media reported. The agreement envisages the mutual use of the aircraft fleet and the expansion of aviation route networks in different regions of the world.

4 dead in small plane crash in Utah mountains
4 dead in small plane crash in Utah mountains
4 injured in shooting at shopping mall in U.S. Alabama
4 injured in shooting at shopping mall in U.S. Alabama
U.S. South Carolina reports 20.7 pct positivity rate from new coronavirus tests
U.S. South Carolina reports 20.7 pct positivity rate from new coronavirus tests
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Tokyo new coronavirus infections over 100 for third day
Seven police hurt in violence at London music event
Europe to supply Asian countries with olive products through Georgia
Georgia reports new cases of coronavirus
Brazil health regulator Anvisa allows Chinese COVID-19 vaccine trial
Kazakhstan's import of Canada-made goods nearly twofold down
Armenia violates ceasefire with Azerbaijan 42 times
Azerbaijan's SOCAR Polymer planning to produce next polypropylene batch
Aeromexico shares rise for second day despite missed debt payment
Kazakhstan’s oil producing company to buy pipes via tender
Kyrgyzstan’s COVID-19 cases reach 7,094
Kazakhstan confirms 1,644 new coronavirus cases over past 24 hours
Israeli PM asks citizens to follow COVID-19 restrictions due to surge in morbidity
Air France set to cut more than 7,500 jobs
Turkey nearly halves leather export to Uzbekistan
Iran cuts import of electrical goods from Turkey
Iran among top three countries in world for caviar producing, sturgeon farming
Brazil reports over 1.5 mln COVID-19 cases, with 63,174 deaths
Geostat reveals producer price indices for services in Georgia
Chinese mainland reports 3 new confirmed COVID-19 cases
Japan's Cokey Systems talks its activities in Uzbekistan
4 dead in small plane crash in Utah mountains
Global coronavirus cases rise to more than 11 million
4 injured in shooting at shopping mall in U.S. Alabama
U.S. South Carolina reports 20.7 pct positivity rate from new coronavirus tests
Export of Turkish chemicals to Uzbekistan declines
Geostat: Georgia increases fruit exports
Mexican soldiers kill 12 in cartel clash near border
Iran says to announce cause of nuclear facility "incident" at "appropriate time"
4 killed, 108 wounded in fireworks factory blast in NW Turkey: ministers
Brazil set to pass 1.5 million coronavirus cases, cities reopen anyway
Zarif writes to Borrell on EU's noncompliance with JCPOA
WHO sees first results from COVID drug trials within two weeks
Number of job seekers from Turkey to Kazakhstan increasing
Spain registers rise in new COVID-19 cases in past week
Saudi-led coalition intercepts 4 bomb-laden drones
Switzerland to open borders for Georgian citizens from July 20
Over 400 beat COVID-19 in Kazakhstan
Turkey reports 1,172 new COVID-19 cases, 203,456 in total
Official talks use of RES by private companies in Kazakhstan's Karaganda
Pakistani foreign minister tests positive for COVID-19
Hungary's parliament adopts 2021 budget
Israel reports 1,008 new COVID-19 cases, 28,055 in total
Russia leading among importers of Azerbaijani fruit, vegetables
Azerbaijan launches pilot project for breeding highly productive species of livestock
TPAO to continue conducting oil, gas exploration in 2 Turkish provinces
TABIB discloses number of infected people in Azerbaijan’s Nakhchivan Autonomous Republic
Assistant to Azerbaijani president: List of spheres affected by pandemic to be amended
TABIB: Azerbaijan begins to conduct serologic tests
Georgian National Bank takes measures to support tourism sector
Assistant to Azerbaijani president: Those infected people who leave houses - criminally liable
Turkmen company plans to increase harvest of vegetables
Central Bank of Azerbaijan to hold deposit auction
Five-month cargo shipment volume via Turkish Mersin port disclosed
Turkey bans entrance of Kazakhs as anti-COVID quarantine extended
Fitch estimates Georgia Global Utilities regulated water revenue
Aztelekom develops project to improve quality of services in Azerbaijani districts
Kazakhstan starts exporting locomotives to Moldova
PETRONAS Carigali in Turkmenistan opens tender for purchase of high-speed ship
Azerbaijan records growth in export of its products to Switzerland
Erdogan: Some countries' statements on Hagia Sophia - direct interference in Turkey's internal affairs
Data on maritime cargo transshipment from US via ports of Turkey announced
Plastic cards number grows in Kazakhstan year-on-year
Info on cargo shipment from Iran via Turkish ports disclosed
Daimler's Mercedes-Benz to streamline global production network
Georgian citizens traveling to Latvia not be placed under mandatory quarantine
Azerbaijan Hotel Association eyes restoring work in post-pandemic period
Russia's Tatneft opens tender for construction, installation work in Turkmenistan
Iran's export to Kuwait declines
Oil demand won’t get back to pre-crisis growth trend for some years
Azerbaijan confirms 583 new COVID-19 cases
IOM assists Turkmenistan in developing counter-trafficking plan
Azerbaijani Cabinet of Ministers approves resolution on toughening quarantine regime
Revenues of Georgian Vannilla Sky decrease
Transport cooperation between Lithuania, Kazakhstan growing despite COVID-19 pandemic
Kim Jong Un says North Korea prevented coronavirus from making inroads
Azerbaijani president sends letter to US conterpart
Raw milk prices increase in Georgia
CAERC talks current operational balance of Azerbaijan
Georgia building new highways
Azerbaijan, Indonesia to sign energy memorandum
Volume of five-month cargo transshipment from UAE via Turkish ports disclosed
Kazakhstan, Uzbekistan agree on co-op in water resources area
Georgia effectively monitors land borders
Kazakhstan's export to South Korea decreases
WB to support sustainable development of beef production in Kazakhstan
Data on cargo movement from Greece via Turkish ports announced
Turkey's export to D-8 countries drops compared to last year
TANAP Natural Gas Transmission Co. sees increase in current assets
Total assets of Azerbaijan’s Bank BTB grow
Thailand's main airport offers rapid coronavirus test for international arrivals
Azerbaijan supports entrepreneurs’ existing loan portfolio
Revenues of TANAP Company up
Azerbaijani, Russian experts highlight economic perspectives of North-South strategy
Macron names Jean Castex as prime minister in government overhaul
Volume of cargo shipment from China via Turkish ports revealed
Industrial production surges in Azerbaijan
Uber widens taxi app to Japan's Tokyo but ride-sharing still barred
Large harvest of potatoes, onions expected in Turkmenistan
Iran reveals its COVID-19 data for July 3
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