Business

TURKEY IS READY TO BOLSTER BUSINESS TIES WITH AZERBAIJAN

By Azernews Staff

Turkey's state minister Rasad Dogru said Turkey is ready to bolster trade and economic ties with Azerbaijan at the second meeting of the Azeri-Turkish intergovernmental commission on economic cooperation last week.

It completed with signing a protocol by Azeri vice-premier Abid Sharifov and Turkey's state minister Rasad Dogru.

The commission focused on preparation of a program for commercial and economic cooperation till 2010, joint investments, participation of Turkish companies in the privatization in Azerbaijan, reduction in customs taxes, and the possibilities to expand cooperation in international transportation and tourism.

Speaking in a news conference on the outcomes of the meeting at the Cabinet of Ministers, vice-premier Sharifov said he was content with the negotiations held.

According to Mr. Sharifov, the trade turnover between the countries reported $230-250 million in 2001.

Turkey's new state minister R. Doglu said he had held useful talks with finance minister, chairman of the State Customs Committee and was expected to meet with premier, ministers for communication, agriculture and youth, sports and tourism.

Repaying arrears

A mechanism will be developed for Azerbaijan's repaying its old arrears totaling $74 million to Turkish Eximbank. The decision was made during the meeting.

According to co-chair of the commission, Azeri vice-premier Abid Sharifov, working groups will study the issue before the third meeting of the commission.

He said that the loan totaling $20 million borrowed from Eximbank for the construction of the Bina Airport is being paid off on time.

RADAR STATION TO BE BUILT IN BAKU AIRPORT

A civil radio location station RST-970S will be constructed at the Baku International Airport. This will be the first facility of its kind in the Caspian and Caucasus region. The equipment for the station has been exported from France through the French German consortium Thales after the tests for the station proved positive there. A special derrick is needed for the construction.

The radar station will secure safety of Azerbaijan's airspace and define intervals between flights, which is a requirement of the International Civil Aviation. It is designed to spot movements at a range of 550 kilometers and capable of identifying signs of all aircraft entering Azerbaijan's airspace.

The station is expected to come on line this May.

JAPAN KEEPS ON ASSISTING

Japan is to allot JPY400 million in 2002 for development of agriculture in Azerbaijan and food safety.

It is envisioned in an agreement to exchange notes between the Azerbaijan and Japanese governments signed at the Ministry of Agriculture in Baku Thursday.

Signing the document were Azeri minister for agriculture Irshad Aliyev and Japanese ambassador to Azerbaijan Tesue Hirose. This is the sixth documents both governments have signed to date.

JPY2.3bn in grants

The Japanese government has allotted JPY2 billion 370 million for the development of agriculture in Azerbaijan since 1996, the Ministry of Agriculture said Friday.

The funds were granted in 350, 400, 380, 390 and 450 million yearly installments in a period between 1996 and 2000. JPY400 million will be allocated in 2002. The grants have been used to purchase agricultural machinery.

‘Efficiency’

Agricultural machinery purchased using the grants of the Japanese government is believed to double the production of potatoes and grain.

The machinery was handed out among 170 private enterprises in 35 provinces. It has helped cultivate and seed 600,000 hectares of land and harvest grain from 105,000 hectares.

RESHUFFLE IN AZERENERGY

Restructuring is in progress in AzerEnergy joint stock company reducing the number of structural units from 40 to 18. In addition, three units functioning as independent legal entities for power generation, transmission and electricity grids, will be made into purely technical units, AzerEnergy said Friday.

Deprived of legal entity status are numerous regional units supervising high-voltage grids, which will be changed into four regional departments, Baku, Ganja, Sumgayit, and Ali Bayramli.

Two potent entities specializing in construction, repair and laying of power lines are being set up in lieu of petty repair and construction units.

The restructuring and its accompanying job slashes, which are expected to complete by March 23, will bypass highly qualified specialists, the company said.

UNIDO ALLOTS $200,000 TO AZERBAIJAN

The UN Industry Development Organization (UNIDO) has allotted $200,000 for preparation of an entrepreneurship development strategy in Azerbaijan, the Ministry of Economic Development reported Saturday. The project will be simultaneously underway in Azerbaijan, Kyrgyzstan and Uzbekistan. The eighth meeting of the consultative council for small entrepreneurship development and support in CIS countries and CIS Partnership forum are due in Baku this fall.

FOREIGN EXPERTS EXPECTED AS PART OF BESO

Foreign experts are expected to arrive in Baku as part of the English BESO program, a source from the National Confederation of Entrepreneurship Organizations of Azerbaijan said Tuesday. They will render consultative services to local entrepreneurs on production of domestic goods and their marketing.

The experts are expected to hold meetings at the Azerbaijan Special Industrial Investment, a farm in Shamkir and Odlar Yurdu University. All these entities have applied to the confederation for consultation.