Azerbaijan intends to change POS-terminals market
The pilot project entitled "Single POS-terminal" is expected to be launched in Azerbaijan, a source involved in the project told Trend March 12.
According to the source, more modern and functional POS-terminals are expected to be brought to the country.
"For example, a seller in a supermarket will no longer need to search for the required POS terminal for accepting payment among several POS terminals, which would also correspond to the buyer's bank card, as every bank has its own rules and commissions," the source said. "It is possible to accept payments through one POS-terminal technically and technologically."
"This will be convenient for the user and beneficial to the bank and shopping centers," the source said.
"The shopping centers will be able to reduce the expenses for maintenance of several POS terminals at the same time, while the banks will expand their coverage for the supermarkets without non-cash payments. It will be possible to optimally use available resources via the new approach."
"We would like to implement a pilot project voluntarily, without any administrative interference by the state," the source said. "In general, the POS-terminals market is expected to be changed this year."
According to the Central Bank of Azerbaijan (CBA), at the end of January 2018, there are 65,181 POS-terminals in the country, of which 36,801 have been installed in Baku, 28,380 in other cities and districts of the country. The number of POS-terminals decreased by 5,983 or 8.4 percent in Azerbaijan for the year.
Azerbaijan, India strengthen economic co-op
A ceremony of signing of memorandums of understanding between the Indian PHD Chamber of Commerce and Industry and the Confederation of Azerbaijani Entrepreneurs, as well as between the PHD and the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) took place in Baku on March 13.
The documents were undersigned by Secretary General of the Indian Commerce and Industry Chamber Saurabh Sanyal, President of the Confederation Mammad Musayev and AZPROMO head Rufat Mammadov.
The documents were signed within the framework of the Azerbaijan-India Business Forum and are aimed at expanding and strengthening the economic and trade ties, as well as business relations between the two countries.
According to the Azerbaijani State Customs Committee, the trade turnover with India in 2017 amounted to $462.5 million. The export from Azerbaijan to India over the past year amounted to $365.5 million. The legal framework between the countries includes more than 20 documents.
Azerbaijan names conditions for signing aviation agreement with EU
The signing of an aviation agreement between Azerbaijan and the EU will take place after the restructuring of the Azerbaijan Airlines (AZAL), Azerbaijan's Deputy Foreign Minister Mahmud Mammad-Guliyev told Trend.
He was speaking March 12 on the sidelines of an event dedicated to the launch of the new institutional set-up of the Eastern Partnership (EaP) initiative.
"The preparation for signing the aviation agreement is almost complete," he said.
Creation of a common aviation area is an initiative of the European Commission and aims to open and integrate aviation markets. This will lead to new opportunities for consumers and operators, and, most importantly, to high standards in terms of flight safety as well as air traffic management.
President Ilham Aliyev: Azerbaijan-Georgia co-op entering global level
The cooperation between Azerbaijan and Georgia, going out from the regional format, is entering the global level, Azerbaijani President Ilham Aliyev said at a meeting with Georgian Prime Minister Giorgi Kvirikashvili in Baku on March 12.
The head of state expressed confidence that Kvirikashvili's visit will play an important role in the development of the Azerbaijani-Georgian relations of friendship and brotherhood.
"We are successfully cooperating in many sectors. I am glad that the trade turnover is growing, that Azerbaijan ranks first among the countries investing in Georgia. This shows that your country has an excellent investment climate. This also shows that our relations are at a very high level," President Aliyev told Kvirikashvili.
"Surely, there are many important global projects that unite us. In October 2017, together with you, we marked the opening of one of these projects - the Baku-Tbilisi-Kars railway. This year, thanks to the commissioning the project on expansion of the South Caucasus Pipeline and TANAP, our cooperation will rise to an even higher level. Our cooperation, from the regional format, is entering global level. Our friendship, our brotherhood is in the core of all these successful steps. And I am sure that sincere relations will continue to serve the interests of our peoples," President Ilham Aliyev said.
Azerbaijan to invest huge funds in railway development until 2022
Azerbaijan's investments in the development of railways will be about $5 billion in 2010-2022, Deputy Head of Azerbaijan Railways CJSC Hijran Valehov said at the first conference of the Silk Road Support Group of the OSCE Parliamentary Assembly in Baku March 13.
He noted that the freight turnover between the European Union and China is forecast to double by 2030.
"Azerbaijan needs to do certain work, particularly, develop the country's railways with a view not to stay away from these processes. Huge work has already been done: the Baku-Tbilisi-Kars railway was launched, the North-South project, which will connect the Persian Gulf, Russia and Northern Europe through Azerbaijan, is being realized. In general, it was planned to invest over $4,879 billion into the development of the railway infrastructure from 2010 to 2022. Part of this fund has already been invested, while the rest will be invested until 2022, " he said.
Particularly, he noted that bulk of the funds has been spent on reconstruction and electrification of the railway routes, overhaul of the Baku-Beyuk-Kesik railway section, renovation of the fleet of carriages, purchase of passenger and freight locomotives.
Baku Trade Port seeks to use blockchain technology
The Baku International Sea Trade Port will apply blockchain technology in its activity, head of the Port Taleh Ziyadov said at the first conference of the Silk Road Support Group of the OSCE Parliamentary Assembly in Baku March 13.
It is planned to turn the new Baku port in Alat into the most technologically advanced port in the Caspian Sea, he added.
"We will use blockchain technology to significantly speed up operations and make them more transparent, while the Port itself will become the most technologically advanced in the Caspian Sea," Ziyadov stressed.
He noted that the Port will be able to handle up to 15 million tons of cargo per year already in May, with the completion of the first phase of construction.
Blockchain is a way of storing data or a digital register of transactions, contracts, and deals. Its main difference and undeniable advantage is that this registry is not stored in one place, but is distributed among several thousand computers all over the world.
The principle of the blockchain technology is quite simple: digital records are combined into "blocks", which are then linked cryptographically and chronologically into a "chain" using complex mathematical algorithms. Each block is associated with the previous one and contains a set of records.
Azerbaijan, Iran to sign major loan agreement soon
Azerbaijan and Iran are planning to sign a credit agreement in late March to finance construction of the Rasht-Astara railway, Azerbaijani Economy Minister Shahin Mustafayev, who is on a visit to Tehran, told reporters on March 13.
The minister noted that the agreement will be signed during the visit of Iranian President Hassan Rouhani to Azerbaijan.
Meanwhile, the railway construction is expected to be completed within three years.
The minister stressed that the opening of the railway, which is part of the North-South international transport corridor, will allow to deliver goods from the West to the East and vice versa.
"This will increase the economic potential of our countries and not only ours, but the entire region. Thus, Azerbaijan and Iran will contribute to ensuring security in the region," the minister added.
Previously, it was reported that the cost of the loan agreement is $500 million.
The North-South transport corridor is designed to connect northern Europe with India and South-East Asia. The route will also connect the railways of Iran, Azerbaijan and Russia.
Azerbaijan, China on threshold of new stage of co-op
The cooperation between Azerbaijan and China within the Silk Road project, as well as the "One Belt, One Road" initiative is an important factor in increasing the flow of cargo from China to Europe, Chinese Ambassador to Azerbaijan Wei Jinghua said in Baku on March 13.
He was speaking at the international conference of the Silk Road Support Group of the OSCE Parliamentary Assembly.
"Azerbaijan plays an important role in the development of international routes, including linking China with European countries and playing the role of not only a bridge between the West and the East, but also being a direct participant in these projects of international significance. China expresses its gratitude to Azerbaijan and all member countries of the Silk Road for cooperation," the ambassador said.
He also noted that these projects will significantly expand China's economic cooperation with the countries of Central Asia, the South Caucasus and Europe.
"The routes supported by China will bring economic benefits to at least 80 more countries," Jinghua said.
In 2013, China announced "One Belt, One Road" initiative aimed at creating infrastructure and establishing links among the countries of Eurasia.
The strategy includes two key areas of development: the Silk Road Economic Belt and the Maritime Silk Road. The strategy envisages creation of a trade corridor for direct supplies of goods from the east to the west on preferential terms.
Participants of South-West railway corridor mull cargo transportation tariffs
The Coordinating Committee on Development of the International Transport Route "South-West" was considering the tariffs for cargo transportation along the corridor at a meeting in Warsaw, the Azerbaijan Railways CJSC said in a message March 14.
The delegations of the railways of Azerbaijan, Iran, Georgia and Ukraine took part in the event. Azerbaijan was represented by the delegation headed by deputy chairman of the Azerbaijan Railways CJSC Igbal Huseynov.
"During the meeting, strategically important issues were discussed," the message said. "Among those issues are the consideration of the tariffs for cargo transportation in rail cars and containers for private rolling stock via the South-West route for 2018 (taking into account the latest changes made by the Ukrainian side). The issue about the launch of the first test container train (block train) on the route Slavkov (Poland) - Astara (Iran) was discussed."
"The complex tariff rates for cargo transportation (cereals, vegetable oils, metal products, building materials polyethylene, polypropylene, ore, bitumen, glass, tomato paste, dried fruits, etc.) in the universal rolling stock were also considered," the message said. "The transportation of dangerous goods in universal and specialized containers along the "South-West" route for 2018 was discussed and coordinated."
The agenda also included the issues of reconsideration and approval of the tariff conditions for cargo transportation in Azerbaijan and Iran by the Azerbaijani and Iranian sides in connection with the commissioning of the Astara (Iran) station; updating the Ukrainian and Georgian sides about the achieved results on optimization of tariff conditions on the offshore section of the route (in the Black Sea).
The issue of consent of the sides (Azerbaijan, Georgia, Iran and Poland) regarding exemption from payment for transportation of empty containers and platforms (no more than one block train per month) was also considered.
The agenda also included the issues of updating the working group by the Ukrainian side about its final decision on the previous issue, as well as informing the participants of the route by the Azerbaijani side about complex tariff rates and posting this information on the route's website.
The sides added that the issues which are being discussed will serve to develop the South-West route and increase its transit potential.
At the end of the meeting, the protocol was signed.
There were also presentations of railway administrations (potential, opportunities, plans), as well as business meetings with potential customers and forwarding companies during the event.
The South-West international transport route is designed for the transportation of goods between the European Union and India. Currently, terms of delivery of goods in this direction via alternative routes are 35-37 days. The South-West corridor, stretching through Iran, Azerbaijan, Georgia and Ukraine, will greatly reduce the period of cargo transportation. The goods will be transported via this route within seven days.
Azerbaijan Food Safety Agency to develop new standards on food production
The Food Safety Agency of Azerbaijan plans to develop new standards on food production, Chairman of the Agency Goshgar Tahmazli said at a press conference in Baku on March 14.
He said that these standards will cover the slaughter of cattle, storage and delivery of products, as well as conduct of a medical examination for workers being in contact with this product.
Meat is in the group of foods that can pose the greatest risk to public health, Tahmazli added.
"Some believe that slaughtering of cattle in their presence is an indicator of safety, but this is not the case. Certain hygienic procedures should be carried out," he said.
The Food Safety Agency was established by the decree of Azerbaijani President Ilham Aliyev on additional measures to improve the food security in the country.
Under the decree, the Food Safety Agency will help ensure the regulatory framework of food safety (development and approval of sanitary norms and rules, as well as hygienic standards), and will carry out risk analysis, hygiene certification, as well as provide a quality certificate for food products exported to foreign countries, ensure state control over the protection of the rights of consumers of food products and at all stages of food production on the basis of the "from field to table" principle.
Azerbaijan, Belarus mull joint production of elevators, generators
Azerbaijan and Belarus are discussing the possibility of joint production of elevators and generators, Ambassador of Azerbaijan to Belarus Latif Gandilov wrote in his article published on the "Belarus Segodnya" portal.
It is assumed that the joint plant will be built in Azerbaijan, Gandilov noted.
Among other examples of cooperation in the field of machine engineering, Gandilov mentioned the Ganja Automobile Plant, a joint venture of Azerbaijan and Belarus, where tractors and other products of the Minsk Tractor Works and the Minsk Automobile Plant are assembled.
"Numerous adapted versions of both tractors and trucks are being manufactured at the Ganja Automobile Plant," the ambassador wrote. "Export of products of these facilities to third-country markets, including Georgia and the countries of the Middle East is being considered. Presently, a branch of the Ganja Automobile Plant is being built in Turkey."
Two-thirds of Azerbaijani companies' heads confident in growth of profits - PwC
Roughly 66 percent of chief executives of companies in Azerbaijan are confident in the growth prospects of their companies' profits, Managing Partner of PwC Azerbaijan Movlan Pashayev said at a presentation of the report 'CEO Survey-2018' in Baku on March 15.
He said that the mood and prospects of both global and local leaders were rather dark when conducting a similar survey two years ago.
"It is very gratifying that Azerbaijan managed to overcome many of the challenges it faced in the economy in a comparatively short two-year period. The 2018 report showed that 66 percent of chief executives are confident in the growth prospects of profits of their companies," Pashayev said.
He noted that the optimism level of CEOs both globally and in Azerbaijan is the highest since 2010.
"This level has almost doubled compared to the previous survey. The chiefs see the growth prospects in short and medium terms for their business, while economic and commodity prices are stabilizing, with many countries pursuing institutional reforms and diversification. The recent crisis has led to disruptions, and it turned out to be the main catalyst for changes, positively impacting both private and public sector enterprises, forcing them to review their strategies and business models," Pashayev said.
He noted that 45 percent of the chief executives expect an increase in global economic growth over the next 12 months. Two years ago their percentage was 23.
"This roughly corresponds to the global indicator. Thus, 57 percent of the interviewed CEOs around the world believes that the economy will grow," Pashayev said.
He noted that during the survey, the heads of companies pointed to the main economic problems they face. The biggest of them - volatility of Azerbaijan's manat rate, followed by threat of tax burdern increase and uncertainty of economic growth.
Pashayev further noted that CEOs also identified the main direct threats to their businesses.
"Particularly, 83 percent of respondents see the lack of professional skills in the market and poor confidence in this business as a threat. Some 75 percent identified changes in the behavior and expenses of consumers as a threat," Pashayev said.
As for the main foreign attractive markets, CEOs highlighted Russia and Turkey, like a year ago, he added.
"At the same time, China entered the top three this year, surpassing Iran. It is noteworthy that this time Iran did not even enter the top six. Only three percent of the respondents voted for it, and we believe that this reflects current geopolitical and economic trends," he said.
He added that today only three percent of the surveyed chief executives do not exclude the possibility of staff reduction (compared to 20 percent worldwide), while last time this figure was 50 percent in Azerbaijan.
"Moreover, today 50 percent of the chief executives are going to increase the staff number," Pashayev said.
The CEO survey is compiled for 19 years, and is presented at the Davos Forum every year. This survey was compiled on Azerbaijan for the second time. The aim is to identify regularities in the global economy, which can be an additional guide for the business community and politicians in decision-making.
Some 40 heads of both public and private companies from leading sectors of the economy participated in the survey on Azerbaijan.
Azerbaijan's Communications Ministry inks memo with Cisco
The Transport, Communications and High Technologies Ministry of Azerbaijan signed a memorandum of understanding with Cisco, the ministry said on March 15.
Under the agreement, the most advanced technical solutions of Cisco will be applied in the formation of new postal services, in intelligent transport management, in ensuring cybersecurity and in development of broadband services.
In addition, Cisco will also engage in increasing the human resources capacity in the IT sector, the ministry said.
During the signing ceremony, the sides discussed creating a digital infrastructure, strengthening of cadastral capacity and introducing business innovations in the social and economic sphere.
The abovementioned three strategic directions contribute to speeding up the digitalization process, raising public awareness in this area, reducing costs and creating new sources of income.
A joint working group is planned to be created to expand the use of digital technologies and the application of new technological solutions.
First VP Mehriban Aliyeva meets president of Marianna V. Vardinoyannis Foundation
First Vice-President of Azerbaijan Mehriban Aliyeva has met with Marianna Vardinoyannis, president of the Marianna V. Vardinoyannis Foundation and the ELPIDA Association of Friends of Children with Cancer.
First VP Mehriban Aliyeva meets delegation led by Vice President of Italian Senate Linda Lanzillotta
First Vice-President of the Republic of Azerbaijan Mehriban Aliyeva has met with a delegation led by Vice President of the Italian Senate Linda Lanzillotta.
First Vice-President Mehriban Aliyeva expressed her gratitude to Vice President of the Italian Senate Linda Lanzillotta for the friendly attitude and attention towards Azerbaijan. Noting that this year marks the 25th anniversary of the establishment of diplomatic relations between Azerbaijan and Italy, Mehriban Aliyeva hailed the existence of successful bilateral relations, which meet mutual interests.
Hailing successful development of Azerbaijan-Italy relations, Mehriban Aliyeva said cooperation between the two countries covers political, economic and humanitarian spheres. The First Vice-President said Azerbaijan makes its contribution to Europe's energy security, noting that the implementation of the Southern Gas Corridor project will further enhance Azerbaijan's role in ensuring European energy security. First Vice-President Mehriban Aliyeva said that having joined TAP project, Italy successfully cooperates with Azerbaijan in this field. Saying that 60 per cent of the construction work of the Trans Adriatic Pipeline (TAP) has been done, the First Vice-President expressed her hope that the pipeline will be put into operation on time.
Emphasizing development of Azerbaijan-Italy relations in many areas, Mehriban Aliyeva noted that there is a much greater potential. The First Vice-President expressed her confidence that this potential will be used more effectively in the future. Mehriban Aliyeva underlined the possibility of the implementation of humanitarian projects bringing the two countries and nations closer to each other.
First Vice-President Mehriban Aliyeva expressed her hope that the visit of the Vice President of the Italian Senate to Azerbaijan will give a new impetus to the steps taken in this area.
Vice President of the Italian Senate Linda Lanzillotta thanked for the meeting and expressed her country's interest in developing bilateral relations.
Azerbaijani, Moldovan presidents meet in Baku
President of Azerbaijan Ilham Aliyev has received a delegation led by President of Moldova Igor Dodon in Baku March 15.
President Aliyev stressed the importance of President Dodon's participation in the 6th Global Baku Forum.
The Azerbaijani president recalled Dodon's last year visit to Baku and the meeting with him at international events. The president stressed that the agreements reached during President Dodon's visit to Azerbaijan have already been implemented.
President Aliyev said there is a good potential for the development of ties between the countries in various fields and stressed the importance of determining joint mutual activity in the future in the political, economic, humanitarian, investment and other spheres.
The Azerbaijani president stressed that he is confident of continuing systematic contacts in the future to address important issues related to further rapprochement of the countries. President Aliyev said that Azerbaijan is interested in this work.
President Dodon expressed gratitude to President Aliyev for the invitation to the 6th Global Baku Forum.
Stressing the significance of the event, President Dodon said Moldova participates in the forum for the first time.
The Moldovan president said there are traditionally friendly relations between the countries.
Recalling last year's visit to Azerbaijan, President Dodon stressed that the meetings held during the visit have already yielded results.
The Moldovan president said that a few days ago, together with representatives of the Heydar Aliyev Foundation, he personally participated in the ceremony of laying the foundation for an important social project in Gagauzia.
President Dodon appreciated the role of the Azerbaijani diaspora in Moldova in strengthening the ties between the countries.
Azerbaijan's 2018-state budget may be revised
The 2018 state-budget of Azerbaijan may be revised, Chairman of the Parliamentary Committee on economic policy, industry and entrepreneurship Ziyad Samedzade said during presentation of the movable property register on March 15.
He said that this may happen after summarizing the first quarter of 2018.
Revenue part of the state budget for 2018 is forecast to total 20.127 billion Azerbaijani manats (including centralized revenues in the amount of 19.473 billion manats, local revenues in the amount of 653.353 million manats), while expenditures are expected to amount to 21.047 billion manats (including centralized expenditures in the amount of 20.323 billion manats, local expenditures in the amount of 723.925 million manats).
Transfers from the State Oil Fund (SOFAZ) to the state budget account for 9.216 billion manats. Revenues from the value added tax (VAT) are forecast to total 4.288 billion manats (including 1.705 billion manats on VAT from goods imported by the country), revenues from income tax - 2.320 billion manats, revenues from personal income tax - 1.196 billion manats, excise tax - 726 million manats (including 172 million manats from excises on goods import), customs duties - 535 million manats, simplified tax - 380 million manats, tax on production - 136 million manats, road tax - 91 million manats.
Transfers from non-budgetary revenues of the budget organizations are projected at the level of 460 million manats.
World Ports Conference to help declare Azerbaijan as regional hub
The IAPH World Ports Conference 2018, scheduled for May 8-11 in Baku, will be a good opportunity to declare about the concept of Azerbaijan as a regional hub, Head of Baku International Sea Trade Port CJSC Taleh Ziyadov told reporters in Baku March 16.
He noted that leaders of the biggest ports, as well as major logistics and transport companies, will take part in the conference of the International Association of Ports and Harbors (IAPH) in Baku.
"We pin high hopes on the conference, which proves the importance the head of state attaches to the development of the Port. We believe that the forum will also be a good opportunity to present the concept of a regional hub and to declare it," Ziyadov said.
The main theme of IAPH World Ports Conference 2018 is "Ports of the Future: Creating Hubs, Accelerating Connectivity". The event will discuss the mainstream developments in the port industry, including multimodal transportation and containerization of terrestrial and maritime trade, the synergy between ports and free trade zones, and the implications of major global transport initiatives.
Ilham Aliyev: Azerbaijan interested in expanding co-op with South American countries
Azerbaijani President Ilham Aliyev has met the Chairman of the Senate of Paraguay Fernando Armindo Lugo Mendez.
Mendez expressed gratitude for being invited to the 6th Global Baku Forum and noted that he is very pleased to participate in the event.
He stressed that the expanding geography of the event participants, the participation of representatives of various regions of the world contribute to international cooperation and at the same time make the event a good platform for discussing topical issues on the agenda.
President Ilham Aliyev noted the importance of participation of Chairman of the Senate of Paraguay Fernando Armindo Lugo Mendez in the 6th Global Baku Forum.
Touching upon the international significance of the event, Ilham Aliyev said that participation of representatives of various levels in the forum is important from the point of view of holding comprehensive discussions on international issues.
Ilham Aliyev noted that Azerbaijan is interested in expanding cooperation with Paraguay and other South American countries.
During the conversation, the sides stressed that the Forum also serves expansion of interreligious dialogue and multicultural cooperation.
At the meeting, the parties highlighted the role of Azerbaijan in strengthening international cooperation, and emphasized the positive influence of Azerbaijan on reducing tensions in the region.