Azerbaijan's economy is going through an uneasy period, and only is coming out of the shock caused by the fall in oil prices. The City of London is ready to assist in the development of the financial system, stated Lord Mayor of the City of London, Alan Yarrow at today's press conference in Baku.
"We are monitoring the situation and will support the development of the economy," he said. According to Yarrow, a drop in oil prices will encourage the producing countries to accelerate economic diversification.
What kind of particular assistance can City provide to Azerbaijan? Answering this question, the Lord said that the assistance can be in the form of training experts, exchange experiences, promoting the development of the capital market and its global integration.
"Local businesses should be able to obtain the financial resources not only from local banks, but the external sources and the capital market should be integrated into the global system," said Yarrow.
The experience of the crisis of 2008-2009 showed that the countries with developed capital markets such as the US, Britain and others quickly and successfully overcame the economic decline. Those who count on the internal financing, slowly overcome the crisis.
Diversification of economy, the increase of transparency, improving the tax and legal systems will make Azerbaijan's economy more attractive in the international arena, says Yarrow.
Asking the question if Turan raised during the meetings of the Lord in Baku the issue of criminal charges of tax evasion the British organization Oxfam and a number of commercial structures of the country, Yarrow gave a negative answer.
However, he said that the issues of business transparency, dispute settlement and other tax forecasting he discussed "in the broader context." The Lord Mayor spoke about it with the president of Azerbaijan, minister of economy and industry, finance, leadership of SOCAR and SOFAR, and SSC.
Turan has learned from reliable sources, that Yarrow had discussed in Baku the further fate of Oxfam. At the same time, representatives of official Baku promised not to interfere with the future work of the NGOs, but on certain conditions.–06С-
Politics
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On Saturday, December 7th, a session of the "Musavat" Party's Majlis took place. During the session, the party leader, Isa Gambar, presented a report on the current socio-political situation in the country. The Majlis also approved a decision by the party’s board to grant district organizations of "Musavat" the authority to nominate candidates for the municipal elections scheduled for January 29, 2025. The party outlined its main areas of activity for 2025. A statement was issued on the human rights situation in the country.
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The human rights organization Freedom Now has joined calls to end the pressure on independent media in Azerbaijan.
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The press freedom organization Reporters Without Borders (RSF) condemned the arrests of Meydan TV employees. A statement of the organization on RSF’s X (formerly Twitter) account said: "Reporters Without Borders condemns these new arrests and calls for their immediate release, as well as the release of 13 other journalists held in disgraceful conditions on trumped-up charges."
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"I was deeply concerned to learn of the arrest of journalists working with Meydan TV. A free and independent press is a vital component of any democracy. Journalists must be able to report on issues without the fear of arrest, intimidation, or violence." This statement was posted by the UK Ambassador to Azerbaijan, Fergus Auld, on his X (formerly Twitter) account on Saturday.
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