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The holding of the 10th meeting of the ministers of economy of the Cooperation Council of Turkic-speaking States (Turkic Council) in Baku is an important step for mutual investments, the Turkish Chamber of Commerce and Industry told TurkicWorld, Trend reports.

The Chamber noted that the Turkic-speaking states have a favorable investment environment.

“The Baku meeting will strengthen the existing great interest of Turkish investors in Azerbaijan. The victory of Azerbaijan in the 44-day Second Karabakh War created a new investment environment in the liberated territories (from Armenian occupation),” the message said.

Turkish companies are interested in participating in the restoration of the liberated territories of Azerbaijan, as well as in increasing the volume of investments in the fraternal country, said the chamber.

Moreover, Turkey is interested in more companies with Azerbaijani investments on its territory, the message noted.

The Chamber of Commerce and Industry stressed that the number of Azerbaijani companies operating in Turkey has increased.

“According to statistics, 136 companies with Azerbaijani capital were created in Turkey from January through July 2021, which is 77 companies more compared to the same period of 2020,” the report said.

Most companies with Azerbaijani capital are opening in Istanbul, and 148 companies with Azerbaijani capital were registered in Turkey in 2020.

The 10th meeting of the economy ministers of the Turkic Council countries is being held in Baku.

The meeting is chaired by Secretary-General of the Turkic Council Baghdad Amreyev and Minister of Economy of Azerbaijan Mikayil Jabbarov with the participation of the ministers of Kyrgyzstan, Kazakhstan, Uzbekistan, Hungary, and Turkey.

 

Source: TREND News Agency

Companies of the Turkic Council member states are ready to implement various projects in Azerbaijan’s Karabakh region, the Secretary General of the Turkic Council Baghdad Amreyev said at the 10th Meeting of the Turkic Council’s Economy Ministers in Baku, Trend reports on Sept.10.

“We are confident that we’ll be able to implement projects in Karabakh in all areas. These projects will bring benefits to not only Azerbaijan, but also the entire Turkic world,” Amreyev noted.

“Azerbaijan is turning Karabakh into a prosperous region which has potential for the development of tourism, mining and a number of other sectors. Large-scale infrastructure projects have already been launched and are being implemented jointly with a number of countries,” added the official.

The meeting is chaired by the Secretary General of the Turkic Council Baghdad Amreyev and the Minister of Economy of Azerbaijan Mikayil Jabbarov and with the participation of the ministers of Kyrgyzstan, Kazakhstan, Uzbekistan, Hungary and Turkey.

 

Source: TREND News Agency

Azerbaijan has invested over $18 billion in the economies of the Turkic Council countries over the entire existence of the organization, Minister of Economy of Azerbaijan Mikayil Jabbarov said, Trend reports.

Jabbarov made the remark at the 10th meeting of the economy ministers of the Turkic Council.

According to the minister, the countries of the Turkic Council invested over $13 billion in Azerbaijan during the organization’s activity period.

Jabbarov reminded that during a visit to Azerbaijan on November 2, 2020, Secretary-General of the Turkic Council Baghdad Amreyev and representatives of the business circles of the council’s member states expressed their readiness to participate in the restoration of Azerbaijan’s liberated lands (from Armenian occupation).

“We will never forget this support. One of the main priorities of our country is the return of internally displaced persons to their homeland,” he said.

The 10th meeting of the ministers of economy of the Cooperation Council of Turkic-speaking States (Turkic Council) is being held in Baku. The ministers of Kyrgyzstan, Kazakhstan, Uzbekistan, Hungary, and Turkey are also taking part in the event.

 

Source: TREND News Agency

Parliament of Georgia to adopt a law on Mortgage Bonds at the current session, Trend reports via the Parliament of Georgia.

As reported, the new draft law determines the meaning of the collateral real estate, which is necessary for the issuance of securities.

After the adoption of the new law, commercial banks will be able to issue bonds ensured with mortgage loans, which will increase the volume of liquid products on the local asset market.

Currently, there is no special legislative regime in Georgia that would regulate the issuance of secured bonds. The traditional means of securing the property (collateral, mortgages) defined by the Civil Code are not an optimal and useful tool in this regard for the issuance of secured bonds. On the basis of the draft law, it will be possible to provide a special type of bond in Georgia, the so-called Covered Bond, which is considered to be a reliable banking product on the international financial markets.

“Covered Bonds (Mortgage Bonds) are secured by commercial bank lending requirements (mainly mortgage loans), which are legally separate from other assets of the Bank and which can be enforced only to meet the requirements of the bondholders”, the document reads.

 

Source: TREND News Agency

Volgograd entrepreneurs presented electrical equipment, industrial and household chemicals, liquid ceramic thermal insulation, agricultural and food products to potential partners in Baku, Trend reports via the Committee for Economic Policy and Development of the Volgograd Region of Russia.

A number of companies, such as “Energomashservice”, “Bionics”, “SM-Service”, NGO “Bronya”, “Dutybox”, “Mezhregionagrokhim”, “Fermalent” and “Frolovsky Elevator”, showed interest in exporting products to Azerbaijan and presented their goods and services to Azerbaijani partners.

In particular, “Energomashservice” defined promising niches of the Azerbaijani market for promoting its products.

It was possible to reach preliminary agreements with a number of companies during the meetings.

“The optimal list of local companies was selected by the specialists of the Export Support Center. We plan to promote electrical equipment and modular buildings to the Azerbaijani market, as these products are in demand and local companies are positive towards Volgograd manufacturers. Now we will have further negotiations, and we hope to conclude supply contracts,” said Daria Pavlova, Deputy Marketing Director of “Energomashservice”.

The business mission of Volgograd entrepreneurs to Azerbaijan was held with the assistance of the regional Export Support Center.

 

Source: TREND News Agency