The three-day VII Baku International Banking Conference started. The event is supported by the Executive Committee of the CIS, the Finance and Banking Council of the bCIS and the International Bank of Azerbaijan.
The program provides a discussion of the strategic cooperation between the CIS countries in the light of their financial and banking systems, as well as the problems and prospects of the restructuring of national financial markets. In addition, attention will be paid to the peculiarities of interaction of CIS financial markets in the global political turbulence, the use of the world payment systems and the establishment of national payment systems within the organization, the role of national regulators to optimize the number and quality development of the financial markets, as well as new approaches to sources of capital and recapitalization of the banking sector, including the exchange products. --17D-
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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