Baku hosts XII Bond Congress of CIS and Baltic countries.
As the deputy chairman of the BSE Vugar Namazov said, in connection with the adoption of the Law "On the Securities Market", before the end of this year, all certificated securities will become non-certificated. "The Milli Majlis has adopted a document on the third reading, and now it's up to the President signing the respective order. Once the law comes into force, the situation in the stock market will change dramatically. In particular, on the basis of the National Depository Center, the Central Depository and Central Clearing House will be established and banks will appear around the Clearing House. The new law will also require fundamental changes on the BSE. We have to completely update our guidance and rules. This work has already begun in parallel with the development of the new law, and now we are ready to install the new rules immediately after the enactment of the law," he said.
The Law "On the Securities Market" was adopted by the Parliament of Azerbaijan on May 17, 2015. --17D-
Economics
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The Eurasian Development Bank (EDB) is actively exploring the possibility of expanding its shareholder base to include neighboring countries such as Azerbaijan, Turkmenistan, and Mongolia. This was announced by EDB Chairman Nikolai Podguzov at a press conference on December 5, 2024, where he emphasized the importance of expanding the bank’s membership to foster sustainable growth.
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In 2023, the trade turnover between Azerbaijan and Turkey reached $7.5 billion, aligning with 50% of the target set by both nations, which aims for $15 billion in future bilateral trade. This milestone was shared by Barış Altıparmak, the World Turkish Business Council representative for Azerbaijan, during a meeting of the Eurasian Council of the organization in Baku.
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Azerbaijan's President Ilham Aliyev signed a decree on Thursday to establish the Nakhchivan Industrial Park in the Nakhchivan Autonomous Republic, aiming to foster competitive production and bolster entrepreneurial growth.
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SOCAR and Yokogawa Electric signed a Memorandum of Understanding (MoU) on Thursday to enhance their collaboration.
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