Last week review (Nov. 14-18)

Nov. 14

Ilham Aliyev: Azerbaijan - reliable partner fulfilling commitments

President of the Republic of Azerbaijan Ilham Aliyev received Vice-President of the Asian Development Bank Wencai Zhang.

The head of state praised the level of cooperation between Azerbaijan and the Asian Development Bank.

The sides also emphasized the importance of ADB-supported infrastructure projects in Azerbaijan, including North-South railroad corridor, water supply, road expansion and other projects. ADB’s including such projects in its 2017-2019 funding program for Azerbaijan was hailed at the meeting.

Burkina Faso interested in expanding energy co-op with Azerbaijan

Burkina Faso is interested in development of mutual relations with Azerbaijan, in particular, in energy sphere, said President of Burkina Faso’s parliament Salifou Diallo.

Diallo made the remarks during his meeting with Azerbaijani delegation led by the country’s Energy Minister Natig Aliyev in Burkina Faso’s capital, Ouagadougou.

Azerbaijan’s state oil company SOCAR said in a message that SOCAR Vice-President for Investments and Marketing Elshad Nassirov and management of the Azerkimya production association and SOCAR Trading company also took part in the meeting.

Azerbaijan, ADB mull Southern Gas Corridor’s financing

Azerbaijan’s Finance Minister Samir Sharifov and Vice-President of the Asian Development Bank (ADB) Wencai Zhang, who visited Baku, held a meeting, during which they discussed the financing of the Southern Gas Corridor (SGC) project, the Azerbaijani Finance Ministry said in a message.

Nov. 15

AmCham in Azerbaijan prepares next edition of White Paper

American Chamber of Commerce in Azerbaijan (AmCham) has prepared 6th edition of the document (White Paper) called “Observations and recommendations for improving Azerbaijan's business climate”.

This document is being prepared and presented to Azerbaijan government biannually in the aim of supporting various fields of Azerbaijan economy, AmCham said.

The White Paper reflects collective view of AmCham members on changes ensuring strength of business environment and ultimately, the country. This document consists of two parts – “Overview” part which is very significant, as of its content covering the most influential issues for Azerbaijan and “Second” part which involves recommendations on more specific issues in detail.

Azerbaijan gets questions from WTO states amid talks in 2017

The World Trade Organization (WTO) working party presented Azerbaijan with questions to get prepared for the next round of talks on accession of the country into the organization, Mahmud Mammad-Guliyev, Azerbaijan’s deputy foreign minister, said.

The US, EU, Russia, Saudi Arabia and Ecuador are the WTO members who presented their questions, the deputy foreign minister added.

The talks on Azerbaijan’s accession to the WTO will be held no earlier than the first half of 2017, Mammad-Guliyev has previously said.

He noted that the proposals are mainly related to the reduction in tariffs, liberalization in the services sector and others.

Azerbaijan invites ADB to get stake in local companies

The Asian Development Bank (ADB) can act as a shareholder in Azerbaijani companies, the country’s Economy Minister Shahin Mustafayev said.

He made the remarks in Baku at a meeting with ADB Vice President Wencai Zhang, who is responsible for operations in the ADB South Asia Department and the Central and West Asia Department.

He noted that it is very important to expand cooperation with credit unions of the ADB, working with small and medium-sized businesses, which will make it possible to increase the volume of lending to the private sector.

“The ADB, besides opening direct lending lines for the real sector, can act as a shareholder of companies and join the projects in ‘state-private sector-bank’ cooperation format in the agriculture sphere,” said Mustafayev.

Nov. 16

Ilham Aliyev meets head of Dubai Commerce and Industry Chamber

President of the Republic of Azerbaijan Ilham Aliyev received Chairman of Dubai Chamber of Commerce and Industry Majid Saif Al Ghurair.

President Aliyev and Ghurair discussed a range of issues, including business, tourism industry, opportunities for export of Azerbaijani agricultural products to the UAE, simplification of visa regime and investment making.

Azerbaijan, Kuwait sign intergovernmental agreement on air traffic

President of Azerbaijan Airlines CJSC (AZAL) Jahangir Asgarov and Director General of Kuwait’s Civil Aviation Yousef Sulaiman Al Fouzan signed an intergovernmental agreement on air traffic between the two countries.

By signing the intergovernmental agreement, the sides removed obstacles to open air traffic between the two countries that will contribute to further development of bilateral economic and cultural relations between Azerbaijan and Kuwait.

Nov. 17

Azerbaijan eyes to increase energy efficiency by 2020

Azerbaijan intends to increase energy efficiency by 20 percent till 2020, Director of the Institute for Scientific Research on Economic Reforms (ISRER) under the Ministry of Economy of the country Vilayat Veliyev said.

He made the remarks during the Azerbaijan Infrastructure, Power and Renewable Energy Investment Conference in Baku.

“In particular, it is planned to reduce the volumes of gas emissions from boilers by 20 percent, bring the share of renewable energy in total production to 20 percent and increase the energy efficiency by 20 percent as part of the concept,” said Veliyev.

Azerbaijan to supply wine to China

Azerbaijan will supply 500,000 bottles of wine to China, said the Azerbaijani Economy Ministry.

The ministry said that the agreement on the supply was reached during the visit of an export mission of Azerbaijani entrepreneurs to Hong Kong and Guangzhou.

During the visit, the Azerbaijani entrepreneurs took part in two international exhibitions of wine and alcohol producers. Azerbaijani wine was of great interest at both exhibitions, Savalan wine of the ASPI Winery company was awarded a gold medal.

Azerbaijani entrepreneurs discussed with their Chinese colleagues the opportunities of cooperation and got acquainted with new technologies for the production of wine, as well as met with local distributors and potential customers with the support of the Azerbaijan Export and Investment Promotion Fund (AZPROMO).

Nov. 18

Ilham Aliyev attends ceremony to launch new ships

President of the Republic of Azerbaijan Ilham Aliyev has attended a ceremony to launch "Rashid Behbudov" fast passenger ship, "Ganja" tanker and "Gafur Mammadov" dry cargo ship, built by Azerbaijan Caspian Shipping Company.

Vietnam interested in Azerbaijani investments

The administration of large Vietnamese Ho Chi Minh city intends to draw Azerbaijani investments in infrastructure projects.

Vietnam urges Azerbaijani investors to work over the subway construction project in Ho Chi Minh, as well as invest in tourism, information and communication technologies and services.

The prospects of cooperation were discussed at the meeting of Azerbaijani ambassador to Vietnam Anar Imanov and chairman of People's Committee of Ho Chi Minh Nguyen Thanh Phong.

The sides discussed an opportunity of exports and imports of goods and Azerbaijani companies’ activity in this province.

Nov. 19

Azerbaijan invites UAE investors to work in its industrial parks

Entrepreneurs of the United Arab Emirates (UAE) can use conditions created in Azerbaijan’s industrial parks, said Azerbaijani Economy Minister Shahin Mustafayev.

Mustafayev made the remarks during his meeting with Majid Saif Al Ghurair, chairman of the Board of Dubai Chamber of Commerce and Industry, the Azerbaijani Economy Ministry said in a message.

There is also great potential for the creation of new processing enterprises with participation of investors from the UAE, noted the Azerbaijani minister.

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