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Last week review (May 15-19)

Analysis Materials 22 May 2017 15:53 (UTC +04:00)

May 15

Azerbaijan, China mull co-op in ICT sphere

Azerbaijan and China discussed the expansion of cooperation in the ICT sphere, said Azerbaijan’s Economy Ministry. According to the message, the discussions were held as part of the meeting of Azerbaijan’s Economy Minister Shahin Mustafayev with Huawei’s President for Central Asia and Caucasus Region James Chen that took place during the Azerbaijani delegation’s visit to China. As part of the visit, the Azerbaijani minister also met with Vice-President of CAMC Engineering Co. Ltd Chen Yufang, where the sides discussed the prospects of development of cooperation.

May 17

ICD signs MOU with AACC to introduce Islamic banking in Azerbaijan

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group, has signed Memorandum of Understanding (MOU) with the Association For Azerbaijan-Arab Countries Cooperation (AACC) in order to introduce Islamic banking products in Azerbaijan and to lobby for changes in Azerbaijan banking legislation in order to incorporate Islamic banking.

The document was signed as part of IDBG Private Sector Forum, organized by the Islamic Development Bank Group in Jeddah, Saudi Arabia, ICD said.

May 18

Ilham Aliyev attends opening of drilling rig named after Heydar Aliyev

President of the Republic of Azerbaijan Ilham Aliyev has attended the opening of a new semi-submersible drilling rig named after Heydar Aliyev in an offshore supply and logistics base of SOCAR’s Caspian Drilling Company. President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovnag Abdullayev and Director General of Caspian Drilling Company Farid Akhundov informed the head of state of the drilling rig. President Ilham Aliyev and Caspian Drilling Company management had a meeting with those involved in the project and representatives of the companies involved in production sharing agreements in Azerbaijan.

Azerbaijani president, first lady view World Food Azerbaijan, CaspianAgro exhibitions

President of Azerbaijan Ilham Aliyev and First Lady Mehriban Aliyeva have viewed World Food Azerbaijan 2017 and CaspianAgro 2017 exhibitions at Baku Expo Center.

A total of 331 companies representing 28 countries are participating in the World Food Azerbaijan 2017 and the CaspianAgro 2017 exhibitions. Seventy percent of these companies are foreign exhibitors, while 30 percent are local ones.

ICD ready to finance joint projects with Azerbaijan's High Technologies Park

The Islamic Corporation for Development of the Private Sector (ICD) intends to begin to implement the joint investment projects with the High Technologies Park of the National Academy of Sciences of Azerbaijan (ANAS) in the field of Islamic finance and support of small and medium businesses. The work will be carried out within the memorandum of understanding, which was signed by Vugar Babayev, director of High Technologies Park of Azerbaijan National Academy of Sciences and Khaled Al-Aboodi, CEO & General Manager of Islamic Corporation for Development of the Private Sector on the sidelines of IDBG Private Sector Forum, organized by the Islamic Development Bank Group in Jeddah.

May 19

US, Azerbaijan discuss upcoming business projects

The US-Azerbaijan Chamber of Commerce (USACC) has tweeted that its board and members discussed the US-Azerbaijan business relations with Azerbaijan’s Ambassador Elin Suleymanov. “We had very productive discussion on US-Azerbaijan business relations. Grateful to Ambassador Elin Suleymanov for hosting our board and members,” said the USACC tweet.

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