Last week review (Aug.8-12)

Aug. 8

Russia-Azerbaijan council to initiate some joint business projects

The Russian-Azerbaijani Business Council (RABC) plans to initiate up to five joint projects in 2016, said RABC Chairman Petr Fradkov in Baku. “Currently, the business council includes about 30 companies representing various sectors of economy,” noted Fradkov. “Of course, both energy and agriculture can be in Russia and Azerbaijan called the most attractive sectors.” He said that to date 10 projects, worth over $380 million, have been supported by the Russian Export Center.

“These projects cover the railway and land transportation, radio engineering and electronics, pharmaceutics, metallurgy, food processing and other sectors,” he said.

Moreover, 15 more projects for delivery of cars, railway and land transportation means, products of chemical industry, agricultural sector, metallurgy and other sectors, are under elaboration, added Fradkov.

Central banks of Iran, Azerbaijan to open checking accounts

Central banks of Iran and Azerbaijan will open checking accounts, Iran's Central Bank Chief Valiollah Seif said in Baku. On the sidelines of bilateral meetings between the Presidents of Iran and Azerbaijan, Hassan Rouhani and Ilham Aliev in Baku, Seif said that according to a memorandum of understanding (MoU) signed between the central banks of the two countries the banks will open checking accounts.

“Meeting with my colleague Elman Rustamov, head of the Central Bank of Azerbaijan, was the main purpose of my visit to Azerbaijan. We discussed expansion of bilateral ties during the meetings today. Economic capacities in both countries require us to seriously increase the volume of trade turnover,” Seif said. The best and the most secure way for defraying the cost of transactions is through the banking system, he added. A checking account in fact is the main factor which is capable of defraying the cost of transactions, he added. The chief of Central Bank of Iran added that the way for establishing the branches of Iranian and Azerbaijani banks in both countries has been paved. The chief further said that under the terms of the MoU the banking card systems of Iran and Azerbaijan will be switched therefore the citizens from the two countries can use their banking cards in Iran and Azerbaijan.

Expanding co-op with Azerbaijan’s SOCAR important for Iran

Iran believes it is necessary to expand the energy cooperation with Azerbaijan’s state oil company SOCAR, said Iran’s Oil Minister Bijan Namdar Zanganeh during a meeting with SOCAR President Rovnag Abdullayev in Baku. During the meeting, the parties discussed issues of mutual interest and the prospects for cooperation.

Azerbaijani, Russian, Iranian presidents sign Baku summit declaration

Presidents of Azerbaijan, Iran and Russia Ilham Aliyev, Hassan Rouhani and Vladimir Putin signed a declaration following their trilateral meeting in Baku. In that declaration, the parties said that they will continue the comprehensive development of equal and mutually beneficial cooperation, intensify and expand the political dialogue in various levels and on all issues of mutual interest, develop the trilateral format of cooperation in the spheres of culture, tourism and business. Moreover, the parties will take effective measures to develop the transportation and communication infrastructure in order to expand the opportunities for passenger and cargo transportation via the North-South corridor.

Aug. 9

WB approves new marketing plan for Azerbaijan’s postal operator

The World Bank (WB) has approved a new marketing plan for the postal operator of Azerbaijan - Azerpoct LLC, said a source in the telecommunications market of the country.

The marketing plan for Azerpoct LLC has been studied by the WB experts, and the final decision on its adoption is expected to be made at the level of management of the company and the Ministry of Communications and High Technologies of Azerbaijan, according to the source.

Earlier, the World Bank and the Swiss State Secretariat for Economic Affairs (SECO) have proposed three components, which provide support for financial stability and activity of Azerpoct LLC. The first component involves corporate restructuring and development of modern financial operations and services. The second component involves rebranding, optimization and technological development. The third one is aimed at the opening of a pilot credit line to support small and medium-sized businesses.

Aug. 10

President Aliyev attends opening of Nohurgishlag-Tuntul-Yengije highway

President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of the Nohurgishlag-Tuntul-Yengije highway after the major overhaul as part of his visit to Gabala district. The highway, which links 3 residential areas in Gabala district with the total population of 7,000 people, provides access to the Garamaryam-Ismayilli-Shaki highway.

Azerbaijani president attends opening of ‘Qafqaz Tufandag Mountain Resort’ in Gabala

President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of “Qafqaz Tufandag Mountain Resort” in Gabala. The construction of the hotel started in 2014. The five-storey hotel occupies a total area of 4 hectares, with the area of the construction site being 3,400 square meters. The hotel has 50 rooms. There are a 100-seat pub, a 400-seat cafe, a 500-seat steak and wine house, the 200-seat “Duruca” restaurant, and the 500-seat “Qabala” cafe in the complex. The hotel will also offer alpine skiing services.

Azerbaijani president views tourism, sport infrastructure projects underway in Gabala

President of the Republic of Azerbaijan Ilham Aliyev has got acquainted with the tourism and sport infrastructure projects that are being implemented in Gabala.

The head of state was informed that “Qafqaz Aqua Land” hotel is under construction. It will consist of 226 rooms and occupy a total area of 2.5 hectares. The president was told that the construction of “Qafqaz Diamond Hotel” also continues. The head of state was also informed that 66 villas were built under “Qabala Golf Villas” project. The complex also features two three-storey 24-apartment buildings, a SPA and entertainment center, and a kindergarten.

President Aliyev attends opening of Gabala regional “ASAN xidmet” center

President of the Republic of Azerbaijan Ilham Aliyev attended the opening of Gabala regional “ASAN xidmet” center of the State Agency for Public Service and Social Innovations.

The head of state was told that the center will serve a total of 902,435 citizens residing in Gabala, Balakan, Zaqatala, Gakh, Shaki, Oghuz, Ismayilli, Aghsu, Shamakhi and Gobustan districts. The president familiarized himself with new projects here, including “ASAN wifi”, “ASAN VISA” portal, “ASAN i-LAB” innovation laboratory, “BASLA”, and “i-LAB store”.

President Aliyev attends opening of newly reconstructed Qaramaryam-Ismayilli highway

President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of the newly reconstructed Qaramaryam-Ismayilli highway.

President Aliyev attends opening of bicycle factory in Ismayilli

President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of “ISMA BIKES” bicycle factory as part of his visit to Ismayilli district. The head of state was informed that the facility was built as part of cooperation with the Bulgarian Sofia bicycle factory. President Ilham Aliyev met with representatives of the general public of Ismayilli district.

President Aliyev attends opening of “Ismayilli-2” hydroelectric power plant

President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of “Ismayilli-2” hydroelectric power plant. The head of state was informed that the facility`s total capacity is 1.6 MW. Main components of the power plant include an intake, three 800 mm pipes each measuring 2,115 metres in length, as well as control, security, management and registration systems, three 1.6 MW hydro turbines, three hydro generators, 10kV and 0.4kV substation and power distribution lines. President Ilham Aliyev launched the hydroelectric power plant.

Aug. 11

President Ilham Aliyev receives US Congress rep

President of Azerbaijan Ilham Aliyev received representative of the US Congress, chairman of the House Small Business Committee Steve Chabot.

Aug. 12

Azerbaijan's economy minister receives citizens in Sabirabad district

Minister of Economy of Azerbaijan Shahin Mustafayev has received in Sabirabad district citizens of the country’s Shirvan, Hajigabul and Sabirabad districts, the ministry said. During the meeting held with participation of heads of the relevant departments of the ministry, Mustafayev received appeals from nearly 40 people.

Some appeals were addressed and resolved on the spot, specific instructions were given to promptly address and resolve other issues in accordance with the legislation.

The citizens who came to the reception appealed on issues related to business activity, issuance of preferential loans, establishment of production and processing enterprises and expansion of activity of the existing businesses, cooperation of the authorized credit organizations with the National Entrepreneurship Support Fund of Azerbaijan, organization of family farms, support of export, as well as regarding social and other issues.

Qatar reports 460 new COVID-19 cases, 163,197 in total
Qatar reports 460 new COVID-19 cases, 163,197 in total
Saudi Arabia rejects U.S. intelligence report on Khashoggi's killing: statement
Saudi Arabia rejects U.S. intelligence report on Khashoggi's killing: statement
U.S. announces 'Khashoggi ban' for 76 Saudi individuals
U.S. announces 'Khashoggi ban' for 76 Saudi individuals
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