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World Bank to launch a new project in Azeri stock market

24 June 2009 15:00 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijan State Committee for Securities hosted a delegation led to Baku by the World Bankâ€™s financial and private sector coordinator Michael Edwards.

The meeting discussed the current situation and prospects for development of securities market in Azerbaijan and the possibility of cooperation in this field.

Rufat Aslanly, Chairman of State Committee for Securities, talked at large about the strategic development trends in the market, improvement of the legislative framework, development of market infrastructure, strengthening of the Committeeâ€™s capacity as a regulatory body, etc.

He also touched upon the projects under implementation in collaboration with donor organizations, and expressed hope for goo cooperation with international institutions.

The parties also discussed other activities which are planned within the framework of the WB technical assistance.

At the conclusion of the meeting, the parties expressed a need for the establishment of a single trading architecture in the securities market of Azerbaijan, as well as the preparation and implementation of a joint project with the World Bank to strengthen the institutional capacity of the Committee.