By Azernews

By Ayya Lmahamad

Entrepreneurs’ problems in the time of COVID-19 pandemic have been discussed during an online B2G forum organized by Caspian European Club with the participation of General Directors of the Central Bank of Azerbaijan (CBA) Rashad Orujov and Ziya Aliyev.

Rashad Orujov informed the forum participants about the support measures taken by the Central Bank in accordance with the Action Plan approved by the Cabinet of Minister. He noted the special significance of the meeting as it provides positive contribution to the development of public- private dialogue in the country.

Measures are connected with reducing the negative impact of the coronavirus pandemic, sharp fluctuations in the global energy and stock markets on the economy, macroeconomic stability.

He emphasized that in accordance with the regulatory decisions taken by the CBA, credit restructuring opportunities have been created for entrepreneurs working in areas affected by the pandemic.

"Presently a number of measures are being taken to preserve the sustainability and well-being of representatives of the financial sector, who have undergone a heavy burden and whose role in financing the economy is growing significantly," Orujov said.

In his turn, Ziya Aliyev stressed that measures taken by the leading central banks of the world and monetary incentives provided by them to the economy have prevented the global financial crisis.

“The currency market has already stabilized and negative economic expectations in his area have significantly decreased,” he said.

Chairman and Chief Executive Officer of Caspian European Club Telman Aliyev proposed the establishment of a bilateral working group with Caspian European Club, which would allow to promptly study the proposals of entrepreneurs and bring them to the management of the CBA.

Caspian European Club, which brings together over 5,000 companies and organizations from 50 countries, was established in June 2002. The major objective of the Caspian European Club is to improve the investment and business climate in Azerbaijan and in other countries where the Caspian European Club operates, as well as to stimulate and actively participate in the B2G, B2B and B2C dialogues.

The Caspian European Club is the international business-networking platform and regularly organizes various events such as CEO Brunch, CEO Lunch, Business Tour, etc. Within the framework of online business trainings, local and foreign specialists conduct webinars, trainings and seminars.  The head office of the Caspian European Club is in Baku (Azerbaijan). The Caspian European Club also has official representative offices in Georgia and Kazakhstan, and authorized representatives in the USA, Germany, Poland, Latvia and Czech Republic.