Business

10th Caspian Oil & Gas Exhibition to be marked with fireworks
The tenth international Caspian oil and gas exhibition and conference incorporating refining and petrochemicals, Caspian Oil & Gas 2003, will take place in Baku on June 3 to 6.
President Aliyev is to inaugurate the grand opening of the show, expected to be attended by the energy ministers of Georgia, Italy, Norway, Russia, Turkey, the United Kingdom and other nations. Afterwards he will take a stroll through the exhibition pavilions where information will be presented about Brazil, Finland, France, Germany, India, Iran, Italy, Poland, the United Kingdom and the United States. The next day, June 4, the conference, to be jointly presided over by Exxon Azerbaijan General Manager Drew Goodbread, Azerbaijani Energy Minister Macid Karimov and SOCAR President Natiq Aliyev, will open to discuss 10-years of achievements, outlooks and potential opportunities for the region. The conference will hear reports on upstream and midstream petroleum development, project financing, logistics, present and future provision requirements.
Fidan Orduxanova, head of the Azerbaijani representative office of UK's Spearhead Exhibitions, the organiser of the event, told AssA-Irada that a special party dedicated to the 10th anniversary of the show would be arranged at Grand Hotel Europe's open ground on June 5. President Heydar Aliyev will be invited to the party to be celebrated by fireworks. Among the distinguished guests to the party are Azerbaijani state and government officials, heads of foreign legations in the country, and representatives of foreign companies to visit Baku on the occasion of the event. Energy ministers of Georgia, Italy, Norway, Russia, Turkey and the United Kingdom, and officials from CIS countries are also expected to take part in the grand meeting.
It has also been planned to launch a drawing competition for schoolchildren, who were born in the year the exhibition was first held, to let them portray Azerbaijan they are expect it to be in 2013.
The project is carried out jointly by the Azerbaijan-British Union of Youth and the Sabayel district education department. The contenders are to submit their drawings to the jury composed of members of the Union of Artists, before May 1.  Valuable prizes are set to award the winners of the competition.
The best works, to be selected, will be displayed in a special room designed for officials invited to the exhibition-conference, and be exhibited at a fireworks party at the Grand Hotel Europe on June 5, to be attended by President Aliyev.

EU-Azerbaijan talks on trade, commerce
The third session of the EU-Azerbaijan subcommittee for trade and commerce opened at the Hyatt Regency Hotel on March 13. The closed door meeting, attended by officials from governmental bodies, as well as representatives of the embassies of EU nations in the country, members of the House of Europe project, and a European Commission delegation. There are plenty of issues on the agenda, like macro-economic situation in Azerbaijan, trade, business, and investment problems between the EU and Azerbaijan, recent achievements in the fields of energy and transportation, tourism co-operation, etc.
Particularly, during the first day of session of the subcommittee, the Azeri side has got the issue on exports of wine, cotton, fish and dairy produce by Azerbaijani manufacturers, put on the agenda. Needless to say, the European Union is sensitive to issues dealing with the exportation of products to EU market by non-union countries. As a result, requirements by the EU to the countries struggling for access to the EU market, are too tough and sometimes impossible to meet.
The session is to end tomorrow, with the signing of a summary protocol. The subcommittee first sat for session in July 2000, while the second meeting was arranged in April 2002.

Entrepreneurs fail to repay loans
159 loans totalling US$155,000 were approved for lending by the Micro Finance Bank of Azerbaijan (MFBA) in February. Throughout its operation since November 2002, the bank has issued 404 loans worth $397,000 USD in total. A spokesperson for the bank has told AssA-Irada that as of February 28, 2003, there were 371 entrepreneurs with the total borrowings of US$309,000 on the bank's outstanding credit list. The Micro Finance Bank issues loans at a three-per-cent interest rate for a six-month term.
Branching out
MFBA shareholders of  have given the green light to the opening of at least two branches in Baku and Sumqayit in 2003. The decision had been approved in accordance with preliminary results of MFBA's performance. It has also been agreed to open rural offices of the bank in the future.

Gov’t expects $200m in foreign loans
Azerbaijan is seeking five or six foreign loans totaling some $200m this year, the country's finance ministry told AssA-Irada.
The government needs $37m to buy six helicopters for State Airlines AzAl. Talks are in progress with an unnamed Canadian supplier.
The government is also looking for $10m to restart production at the Ganca automobile factory, where Renault trucks are to be assembled.
The major power projects are intended for reconstruction works at the Ali-Bayramli and Azerbaijan hydropower plants. Overall project costs are $80m and $60m respectively. Negotiations are under way with the Islamic Development Bank and the European Bank for Reconstruction and Development, as well as other institutions.
Azerbaijan expects to receive $22m from the Asian Development Bank to upgrade water utilities in towns and cities.
The finance ministry said the 2003 budget set an external loan ceiling of $200m this year. Last year's limit was also $200m, however Azerbaijan only borrowed $30m within the World Bank SAC-2 program.

Istanbul conference likely to be put off
"Recent developments in and around Iraq may cause the postponement of the third international oil and gas exhibition-conference, TURKIOG 2003, which is scheduled for April 3-4 at Istanbul's Hilton Hotel," said Farid Mammadov, general director of Iteca Caspian LTD., the organiser of the event.
Supported by the Turkish Chamber of Geophysicists and the country's Energy Ministry, the event is expected to host more than 200 participants, including high-ranking representatives of the State oil company of Azerbaijan (SOCAR). The conference is to consider possible ways of Caspian oil transportation to world markets.

WB strategy for Azerbaijan to get approval
The World Bank (WB) has drawn up a new country support strategy for Azerbaijan. The paper is being talked over with the government and donor organisations.
The WB office in Azerbaijan told AssA-Irada that after scrutinising the document, as agreed, it will be followed up and approved by the board at its meeting in May.

Bakcell Telesecretary service free of charge
Recently, Bakcell JV has started its new campaign, Yenilikler (Novelties). Within the campaign, subscribers were presented numerous surprises and favorable services. Perhaps, every subscriber is aware of the existing Telesecretary service. When a subscriber does not answer calls, or when a phone is turned off or is out of reach or is busy Telesecretary receives all the calls and keeps in memory for 10 days. Now Bakcell JV presents its Telesecretary service to subscribers free of charge. All Bakcell subscribers should dial 7072 to listen to the recorded messages in Telesecretary box.

Conference on Azerbaijani-Austrian economic co-op
A two-day conference on co-operation between Azerbaijani and Austrian companies completed its work on Tuesday. Participating were: Azerbaijani Minister for Economic Development Farhad Aliyev, Austrian Minister of Trade and Economic Development Muelrauler, President of the Azerbaijani Entrepreneurs Confederation Alakbar Mammadov, as well as businesses from both nations, the conference focused on issues relating to co-operation between private companies. Furthermore, the Austrian delegation has conducted meetings with the State Securities Committee, the ministries of health, communications, foreign affairs, and youth, sports and tourism, within their visit to Azerbaijan. The visit was organised by the Austrian embassy in Turkey.

Railways to get EBRD loan
The management of the European Bank of Reconstruction and Development (EBRD) are awaiting the state guarantee from the Azerbaijani government for a loan EBRD has agreed to issue to the State Railways Department (SRD). The department's press office told AssA-Irada that the first $30-m tranche of the loan will be opened to purchase new tank-trucks, repair locomotives, etc.

3,273 receive unemployment benefit
The Azerbaijani Trades Unions Confederation has informed AssA-Irada that minimum acceptable food intake per person cost AZM226,165  in March. In this timeframe the subsistence minimum was AZM339,235 for an individual, AZM410,475 for a worker, and AZM615,715 for  a work upkeeping one dependant. 3,273 people received unemployment allowance of AZM88,961 in March.

Power supplies to Naxcivan increased
Azarenerji experts have conducted talks with their Iranian counterparts in the Naxcivan Autonomous Republic of Azerbaijan, focusing on broadening technical opportunities for energy exchange in order to ensure a more reliable power supply to Naxcivan. A 185mWA power transformer has been installed to increase the power supply from Iran to Naxcivan from 50mWt to 85mWt in accordance with an agreement signed between Azarenerji and the Iranian Tevanir company in October 2002. The experts considered issues on raising the volume of power supply from Iran in 2003 as well.  It was decided to continue the talks in Tehran. Thus far, the Naxcivan Autonomous Republic has consumed 130-150mWt of electrical power a year. Of this volume, 70-80mWt was being imported from Iran, 40-50mWt from Turkey, while the Araz hydropower plant generates a bit more than 20mWt.