The State Securities Committee (SSC) hosted a meeting of the Governing Council on the twinning project "Ghost securities legislation of Azerbaijan in line with EU legislation and institutional development of SSC." The two sides highly appreciated the level of work done and approved the quarterly report of progress, although enough problems.
The press service of the State Committee for Securities on the outcome of the meeting noted that the representative of the State Securities Committee of the Governing Council of the project said that "the public is informed of the Project activities. On the web page of the State Committee there is a special section for the project.
The project was officially launched in October of last year and is still local issuers are not invited by the State Securities Committee to debate bills aimed at improving corporate governance standards and purchase the controlling interest in the companies. According to the draft, the draft law "On securities market" was to be presented to Parliament in 2012. It is unknown where this document. In the Web page, the basic materials for SSC twinning project placed only in English.
The project provides for the unification of the local securities legislation of the European Directive. Its cost is EUR 1 million and is funded by the European Commission. The operator of the project is the Financial Supervision Agency of Poland. The project will be completed by June 2014. - 08D-
Economics
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New data reveal dramatic increases in both foreign arrivals and Azerbaijani departures, highlighting the country’s evolving role as a regional travel hub. In a striking demonstration of its growing global connectivity, Azerbaijan saw a significant surge in international arrivals during 2024. According to figures released by the State Border Service, the country welcomed approximately 2.63 million non-citizen visitors—a 25.9% increase over the previous year—representing travelers from 196 countries. The latest data underscore Azerbaijan’s escalating prominence on the international stage, both as a destination and a departure point.
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Global food prices decreased in 2024, but Azerbaijan bucked the trend, recording a rise in food expenditures. Experts believe this necessitates urgent expansion of agricultural production to safeguard the domestic market.
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Italy, one of the European Union's largest economies, solidified its position as a key importer of Azerbaijani natural gas in 2024, despite a notable decline in domestic gas consumption. The country imported 58.7 billion cubic meters (bcm) of natural gas, meeting most of its annual demand of 61.7 bcm—a 2.5% drop compared to 2023. This data, reported by the Italian energy market regulator GME, highlights shifts in Italy’s energy sourcing and consumption patterns.
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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