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Last week review (May 16-20)

Analysis Materials 24 May 2016 11:51 (UTC +04:00)

May 16

Azerbaijan, Iran define directions of co-op in agricultural sector

Azerbaijan and Iran are ready to develop cooperation in agricultural sector, Heydar Asadov, Azerbaijani agriculture miniter, said.

He made the remarks during the Azerbaijani-Iranian business forum in Baku.

"Today we discussed with the Iranian agriculture minister [Mahmoud Hojjati] the development of cooperation in many directions, including animal breeding, artificial insemination, import of new strains of cattle, plant cultivation, enhance the level of cooperation in the field of seed growing, establishment of relations at the level of research institutions, exchanges of personnel, the results of scientific works," said the minister.

He also added that a working group operates between the two countries that will help to implement the results of entrepreneurs' discussions within the ongoing business forum.

Azerbaijan, Kazakhstan, Georgia to increase cargo traffic via Trans Caspian route

Heads of railway authorities of Kazakhstan, Azerbaijan and Georgia have agreed to increase the volume of cargo traffic via the Trans Caspian International Transport Route (TITR), Nadir Azmammadov, spokesman of Azerbaijan Railways CJSC, said.

Azmammadov said that Baku hosted the trilateral meeting of the President of Kazakhstan Temir Zholy (Kazakhstan's national railway company) Askar Mamin, Chairman of Azerbaijan Railways Javid Gurbanov and the CEO of JSC Georgian Railway Mamuka Bakhtadze.

In particular, they discussed the definition of competitive tariffs, increasing the efficiency of the ferries, which operate on the route Aktau-Kuryk-Alat-Aktau-Kuryk, development of cooperation in the field of production and the supply of railway engineering products.

Iran, Azerbaijan discuss closer banking relations

Central Bank of the Republic of Azerbaijan Governor Elman Rustamov met his Iranian counterpart Valiollah Seif in Tehran.

During the meeting, Seif reiterated Iran's proposal to launch a joint monetary and banking committee to render closer bilateral cooperation.

He also proposed that Iran and Azerbaijan introduce to each other some of their banks in order to open branches in each country.

"Opening accounts in each other country's central bank and using it for trade transactions with a regular clearing timetable could also be a great help to bilateral trade," Seif also proposed.

"We also welcome the idea of opening a joint account, but through the International Bank of Azerbaijan," Rustamov added.

May 17

Azerbaijan's president meets with EU high representative

President of the Republic of Azerbaijan Ilham Aliyev has met with High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini as part of his working visit to Vienna.

They exchanged views over settlement of the Armenian-Azerbaijani Nagorno-Karabakh conflict.

Azerbaijan, the Netherlands ink several documents

Azerbaijan and the Netherlands have signed a memorandum on creating a joint business center. The document was signed between the Dutch Limburg province and Azerbaijan's ADA University. Moreover, three memorandums were signed between Azerbaijan's Sumgait Chemical Industrial Park and the Dutch Chemelot chemical park; Azerbaijan's ASAN center, Nar Mobile, Azerbaijan's State Fund for Development of Information Technologies and the Azerbaijani-Dutch center, as well as Azerbaijan Steel Production Complex, Maastricht University and Aachen University (Germany).

Single tariff soon to be applied for Trans-Caspian route

A single competitive tariff will be introduced for the International Trans-Caspian Transportation Route on June 1, said Nadir Azmammadov, spokesman for the Azerbaijan Railways CJSC.

Azmammadov said this decision was made at a meeting of the coordination committee of the International Trans-Caspian Transportation Route in Tbilisi, Georgia.

Azerbaijan was represented at the event by Javid Gurbanov, chairman of Azerbaijan Railways CJSC.

May 18

Azerbaijan absorbs $20B of European investments in 10 years

The EU countries have invested $20 billion in Azerbaijan's fixed assets for the last 10 years, that is, 45.6 percent of all investments made in the country's fixed assets, said Shahin Mustafayev, Azerbaijani minister of economy.

Mustafayev made this statement at the second Azerbaijan-EU business forum, which is being held in Baku.

"The EU countries made direct investments worth $2.7 billion in Azerbaijan's non-oil sector, that is 35 percent of the total volume of direct investments in this sector of the country," he said.

The minister also added that the EU is Azerbaijan's main trade partner.

President Ilham Aliyev: Azerbaijan-Netherlands relations actively developing

President of the Republic of Azerbaijan Ilham Aliyev received President of the Maastricht School of Management, former President of the Dutch Senate and Honorary President of the Parliamentary Assembly of the Council of Europe Rene van der Linden.

The Azerbaijani president touched upon cooperation between the two states in business sector, adding that the number of Dutch companies was increasing in Azerbaijan.

President Aliyev said relations between Maastricht School of Management and ADA University were of strategic importance, and described all this as positive indicators of cooperation.

President Ilham Aliyev received delegation led by Russian Deputy Prime Minister

President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by Deputy Prime Minister of the Russian Federation Dmitry Rogozin.

The sides exchanged the views on prospects of cooperation between the two countries.

May 19

President Ilham Aliyev receives Belarusian deputy prime minister

President of the Republic of Azerbaijan Ilham Aliyev has received deputy Prime Minister of the Republic of Belarus Mikhail Rusyi. The sides also discussed prospects for cooperation in various areas.

Azerbaijan, IMF start next consultations

Azerbaijan and the International Monetary Fund (IMF) have started the next phase of consultations on the fourth article of the agreement on the IMF's creation.

Azerbaijani Finance Ministry said that the IMF mission led by Mohamed El Gorchi is in Baku for that purpose.

During a meeting with Azerbaijan's Finance Minister Samir Sharifov the parties discussed the country's macroeconomic and fiscal position, the situation in the banking sector, and exchanged views on the parameters of the state budget, and the Azerbaijani government's steps to neutralize the negative effects of external shocks on the country's economy.

May 20

Azerbaijani president visits food industry, agriculture exhibitions in Baku

President of the Republic of Azerbaijan Ilham Aliyev has visited the 22nd Azerbaijan International Food Industry Exhibition and 10th Azerbaijan International Agriculture Exhibition at the Baku Expo Center.

WB ready to support development of agricultural insurance in Azerbaijan

The World Bank Group (WB) is ready to support the development of agricultural insurance in Azerbaijan, said Rolf Behrndt, manager of the World Bank Group's finance and markets practice.

He made the remarks at the meeting with the head of the Board of Directors of Azerbaijan's Financial Market Supervisory Body Rufat Aslanli in Baku.

Behrndt informed about the preparation of the draft law on the establishment of private credit bureaus in Azerbaijan, as well as the prolongation of duration of technical assistance activities on consumer protection and increasing financial literacy until October 2016.

The parties also discussed the progress of the project on providing financial services to the national postal operator Azerpost LLC, the issues of cooperation in the sphere of insurance sector's development in Azerbaijan.

Azerbaijan, Senegal sign deal in customs sphere

Azerbaijan's State Customs Committee (SCC) and Senegal's General Administration of Customs signed an agreement on mutual aid in the field of strengthening the capacity of customs officials. From the Azerbaijani side the document was signed by the Chairman of the SCC Aydin Aliyev and from the Senegalese side by the Director General of the General Customs Administration Papa Ousmane Gueye. The SCC delegation led by Aydin Aliyev was on a visit to Senegal at the invitation of the country's General Administration of Customs.

Latvia urges Azerbaijan to use its transport infrastructure

Uldis Augulis, Latvian transport minister, called Azerbaijani representatives for cooperation in the transport sector.

During the meeting with Transport Minister of Azerbaijan, Ziya Mammadov, Augulis said that Latvia and Azerbaijan had built good and constructive relations in road hauling and aviation but called for increased cooperation, urging Azerbaijan to use the Latvian transport infrastructure, including ports and railways, for exports to the EU.

May 21

President Ilham Aliyev holds phone talk with US Vice President Biden

The US Vice-President Joe Biden held a phone conversation with President of Azerbaijan Ilham Aliyev. During the conversation the sides also exchanged views on the prospects of successfully developing Azerbaijan-US relations.

President Aliyev: Azerbaijan interested in having more Chinese companies involved in its economy

President of the Republic of Azerbaijan Ilham Aliyev has received a delegation led by special envoy of the President of the People's Republic of China, member of the Politburo of the Communist Party, Secretary of the party`s Central Political and Legal Affairs Commission Meng Jianzhu.

The President pointed to good prospects for cooperation in transportation of goods by railway from China to Europe passing through Azerbaijan, adding that active work was conducted in this regard. President Ilham Aliyev said Azerbaijan was interested in having more Chinese companies involved in its economy and expanding tourism cooperation.

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