TODAY.AZ / Business

Azerbaijan and BSTDB sign memorandum of mutual understanding

29 January 2008 [10:20] - TODAY.AZ
The Azerbaijan Investment Company signed a memorandum of mutual understanding with the Black Sea Trade and Development Bank on January 28.

The document was signed by AIC chief executive Anar Akhundov and BSTDB president Gayrattin Kaplan, Day.Az reports.

The document envisions joint investments into the non-oil economic sector of Azerbaijan, evaluation of projects, exchange of information on potential investors and projects and others. Under the memorandum the BSTDB will hold trainings for AIC employees and will also provide technical assistance to commercial organizations, operating in Azerbaijan.

The signing ceremony was also attended by Azerbaijan's Minister of Economic Development Heydar Babayev.

It should be reminded that the Black Sea Trade and Development Bank was founded in 1998 by 11 member-states of the BSEC including Azerbaijan, Albania, Armenia, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine as a regional intergovernmental fiscal organization to assist the economic development of the member-states and encourage regional cooperation.



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