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Last week review (Apr. 24-28)

Analysis Materials 1 May 2017 16:26 (UTC +04:00)

April 24

Azerbaijan mulls naphthalan ointment supplies with Kazakhstan

Azerbaijani companies Ayan and Ag Naftalan are in talks with Kazakhstan over supplies of lemonade, mineral water and naphthalan ointment, said the Azerbaijani Economy Ministry.

The ministry noted that an export mission consisting of 19 Azerbaijani entrepreneurs is now in Kazakhstan. As part of the two-day visit, the Azerbaijani businessmen met with representatives of local companies and discussed the possibility of supplies of Azerbaijani products to Kazakhstan.

April 25

Azerbaijan allows opening exchange offices outside banks

The Azerbaijani Parliament adopted draft amendments to the “Law on Currency Regulation” at a plenary session. The amendments allow individuals and legal entities to open currency exchange offices in Azerbaijan.

In accordance with the adopted amendments, not only residents of Azerbaijan, but also foreign companies will be able to open currency exchange points in their branches in Azerbaijan.

Caspian littoral states mulling trade, economic deal in Ashgabat

Ashgabat is hosting another meeting of authorized representatives of Caspian littoral states. The event is being attended by delegations of Azerbaijan, Iran, Kazakhstan, Russia and Turkmenistan to agree on a draft agreement on trade and economic cooperation in the region.

Azerbaijan, Lithuania outline co-op priorities

Azerbaijan and Lithuania have great opportunities for cooperation in such areas as energy, agriculture, transport and tourism, and intend to develop ties in these spheres, Azerbaijani Foreign Minister Elmar Mammadyarov and Lithuanian Prime Minister Saulius Skvernelis said during the meeting within the framework of Mammadyarov’s official visit to Lithuania.

The sides noted the importance of developing trade and economic cooperation between the two countries, stressing the importance of the Azerbaijan-Lithuania intergovernmental commission for trade and economic cooperation. The next meeting of the commission is scheduled for the second half of 2017.

Azerbaijani shipping company may buy, rent Ukrainian ferries

Azerbaijan Caspian Shipping CJSC has expressed interest in buying or renting Ukrainian ferries “Heroes of Shipka” and “Heroes of Plevna”, says a message from the Black Sea trade port of Chornomorsk. According to the message, during the visit of the Azerbaijani shipping company’s leadership to Ukraine, a number of meetings were held on the issue of expanding international cooperation. The sides discussed opportunities of entering the markets of Iran and Central Asia using Ukraine’s transit potential, opportunities of the East-West and North-South transport corridors for Ukraine, as well as emphasized the significance of introducing the single tariff policy in this sphere. During the visit to Odessa, the shipping company’s delegation also met with representatives of several ferry operators. During the meetings, the parties discussed the issues of cooperation in the field of freight traffic.

April 26

Ilham Aliyev receives delegation led by Saudi Arabian minister

President of the Republic of Azerbaijan Ilham Aliyev received a delegation led by Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia Khalid Abdulaziz Al-Falih.

Saudi Arabia offers Azerbaijan to jointly invest in third countries

Saudi Arabia offers Azerbaijan to jointly invest in third countries, Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia Khalid Abdulaziz Al-Falih said at a meeting with Azerbaijani Energy Minister Natig Aliyev in Baku. Khalid Abdulaziz Al-Falih said that today Saudi Arabia and Azerbaijan can hold relevant technical discussions.

"Together we can better assess the risks,” he added. “We propose to invest not only in the Caspian-littoral countries, but also in other countries."

The minister also expressed interest in supplying the products manufactured in Saudi Arabia to Azerbaijan. Khalid Abdulaziz Al-Falih said that the oil companies of Azerbaijan and Saudi Arabia, namely, SOCAR and Saudi Aramco, could establish technical cooperation.

April 27

Deputy PM: Over 11B manats invested in Azerbaijan’s construction sector

Construction sector in Azerbaijan is the second after the oil sector in terms of the largest amount of investments, Azerbaijan’s Deputy Prime Minister Ali Ahmadov said at a meeting of the Commission on Regulation and Coordination of Labor Relations with representatives of construction sector in Baku. The deputy prime minister noted that the construction sector also plays a significant role in the labor market.

“According to the statistics, 343,000 people work in the construction sector, accounting for seven percent of working population,” he added.

Ahmadov has said that 11.4 billion manats out of 15 billion manats of investments, put in the country’s economy, were invested in the construction sector in 2016. He said that thanks to these funds 13,000 apartments with a total area of 1.67 million square meters were built.

Azerbaijan, Turkey keen to intensify co-op with African countries

Azerbaijan’s Agriculture Minister Heydar Asadov is on an official visit in the Turkish city of Antalya. Asadov was invited as an honorary guest by Turkey’s Minister of Food, Agriculture and Livestock Faruk Celik, to take part in the first meeting of agriculture ministers of Turkey and African countries, and the business forum being held in Antalya.

The role of rural development in ensuring food security, as well as prospects for cooperation of private sector representatives, attracting foreign investments in the country’s economy to ensure sustainable and continuous development of the agrarian sector are the topics of discussion at the event.

Meanwhile, an exchange of views will also be held in order to bring to a high level the cooperation between Azerbaijan, Turkey and African countries in the field of agriculture.

April 29

Ilham Aliyev receives Qatar’s former PM

President of the Republic of Azerbaijan Ilham Aliyev has received former Prime Minister and Foreign Minister of the State of Qatar Sheikh Hamad bin Jassim bin Jaber Al Thani.

They exchanged views over the issues relating to the development of cooperation between the two countries in the fields of air transport, tourism, agriculture, energy, petrochemistry, and investment making.

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