The Chairman and CEO of VTB Bank Andrei Kostin on March 3, during a visit to Baku, met with Azerbaijani President Ilham Aliyev.
The message of VTB Bank (Azerbaijan) states that during the meeting VTB noted the interest in developing business groups in the country. The leadership of Azerbaijan raised the possibility of investing in the development of Azerbaijan's exports of agricultural and other products to Russia.
Kostin said that by the end of 2014, VTB Group invested $700 million in the development of the economy of Azerbaijan. Of these funds, $ 300 million was aimed at the development of the subsidiary bank - VTB Bank (Azerbaijan), and another $ 400 million - to finance projects in the field of transport and communications.
During his visit to Baku Andrei Kostin met with the Chairman of the Central Bank of Azerbaijan Elman Rustamov. He said that VTB together with the other shareholder - OJSC Ata Holding - actively develops VTB Bank (Azerbaijan). In 2014, it opened 7 points of sale, and the total number is 13. In February 2015, the bank opened its first branch in the city of Ganja. According to Kostin, VTB Bank (Azerbaijan) has all the prerequisites for achieving the strategic goal - joining the top 10 banks in the country. ----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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