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Weekly Azerbaijan Business Monitoring: May 2019 (5)

16 October 2019
70 AZN 40 USD 35 EUR

Last week review

Direct flight between Azerbaijan, Pakistan to operate soon
Buses from Baku to Russia’s Tver to start running on May 28
Agriculture is most promising sector of Azerbaijani economy
EY Azerbaijan held presentation on IFRS 9 for banking sector
Construction period of large-capacity bus plant in Azerbaijan revealed
IFC supports development of private sector in Azerbaijan
Azerbaijan's Ganja Instrumentation Plant plans to increase output, exports
Azerbaijani-Turkish fertilizer production plant studies new export direction
Trans-Caspian backbone project Agreement approved by Government of Kazakhstan
Azerbaijan to export canned fish to Russia
Azerbaijani startups to soon reach European level
Azerbaijan, Turkmenistan discuss prospects for economic cooperation
Port of Baku to build “green” power station

Azerbaijani oil prices

Azerbaijani oil prices for May 27-31

Dynamics of monetary market of Azerbaijan

Major events in caspian countries' oil and gas industry for last week

SOCAR Polymer plant discloses volume of polyethylene supplied to Russia
Azerbaijani company starts developing plan for project to reconstruct oil refinery in Baku
IGB to ink two contracts in mid-June
Ilham Aliyev: Oil and gas produced from Azeri-Chirag-Gunashli fields will serve Azerbaijani people and state for many years to come
SOCAR continues negotiations on acquisition of shares of Antipinsky Oil Refinery
Oil export via Baku-Novorossiysk pipeline to resume soon
President Ilham Aliyev attends opening of 26th International Caspian Oil & Gas-2019 Exhibition and Conference
Russia’s Gazprombank considering new projects in Azerbaijan, not only in energy sector
Big funds to be allocated for implementation of SGC project until 2020
Exploration on Azerbaijan’s Babek structure may begin next year
SOCAR President: gas production to increase in Azerbaijan
SOCAR, Tekfen sign memorandum on construction of new plant in Azerbaijan
TANAP will need 7 compressor stations to reach 31 bcm capacity
Minister: Italian companies invested almost $600M in Azerbaijan's oil&gas sector
IGB can hold additional market test for assessing demand for expansion
SOCAR, KazMunaiGas to conduct joint geological exploration
Azeri-Chirag-Gunashli remains leading oil producer in Azerbaijan
Azerbaijan's SOCAR-AQS completes drilling of another well at Western Absheron field

Weekly economic review

Conditions to be created for using Russian Mir payment cards in Azerbaijan
Russia’s Gazprombank, International Bank of Azerbaijan sign co-op agreement
VTB Bank Azerbaijan interested in selling syndicated loans
Azerbaijan’s Azericard introduces 2 new products
Azerbaijani Chamber of Accounts to be provided with information on commercial, tax secrets
Azerbaijani ministry, DAAL Venture Capital sign memorandum of understanding
VISA: Azerbaijan is priority market for introducing innovations
Tax breaks for Azerbaijani businesses to be extended for 3 years

Last week’s laws, orders and decrees in Azerbaijan

Azerbaijani president signs important decree to stimulate production of entrepreneurs of SMEs
Azerbaijani president signs decree on accelerating reforms in energy sector
Azerbaijani parliament adopts amendments to law on ‘Credit Unions’ in first reading
Financial Monitoring Service to work as part of Azerbaijani Taxes Ministry

Weekly actual topics in Azerbaijan

Seasonal measures implemented for ensuring food security in Azerbaijan
Expert: developing single protocol to combat cybercrime necessary
Expert: Azerbaijan needs well-trained information security specialists
Number of innovations increasing in Azerbaijan