In London, with the support of the IBA to discuss the development of the Caspian Corridor
BAKU/26.11.12/TURAN 26 November in London at Lancaster House, is hosting the first Caspian Corridor Conference, dedicated to the region, which has one of the highest economic growth rates in the world. The conference is organized by the CityUK in cooperation with the International Bank of Azerbaijan (IBA) and the Asia House.
According to the report the IBA, the conference was attended by former trade minister Baroness Symons, CEO of the International Institute for Strategic Studies (IISS) John Chipman, the Minister for Business, Innovation and Skills (DBIS) Lord Marland, chairman of the State Securities Committee of Azerbaijan (SSC) Rufat Aslanli, Pulitzer Prize winner and an expert in the field of energy, Daniel Yergin, Azerbaijani Ambassador to UK Fakhraddin Gurbanov, Chairman of the International Bank of Azerbaijan Jahangir Hajiyev, Vice President of the State Oil Company of Azerbaijan Rafig Huseynzadeh and many others.
They will discuss the problems of the region and its potential in the field of trade and innovation, including infrastructure, energy and banking sectors. The panel, which will include former Secretary of State for Education, Charles Clarke and tennis legend Boris Becker, will be devoted to sports and education and ways to use sport as a positive social tool around the Caspian corridor.
As a point the conference accepts the fact that the Caspian corridor is one of the fastest growing economic regions in the world. The steady growth of GDP, which is projected for the coming years is about 5-7%, due to energy corridor, which includes oil and gas exporters (Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan), as well as non-exporting countries (Georgia, the Kyrgyz Republic and Tajikistan) .
After the conference, all guests are invited to take part in an evening of Azerbaijani music, dedicated to the 20th anniversary of the International Bank of Azerbaijan. Performed by Royal Philharmonic Orchestra with the participation of Azerbaijani performers and under the baton of conductor, People's Artist Yalcin Adigozalov includes works by Fikret Amirov and Mugam. -15D -
-
- Want to say
- 26 November 2012 12:35
-
- Politics
- 26 November 2012 13:13
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review