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International conference on Collective investments: international practice and opportunities held in Baku

29 September 2010 11:21 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Today, an international conference on the Collective investments: international practice and opportunities devoted to 10 year anniversary of Baku Stock Exchange was held in Baku.

Minister of Finance Samir Sharifov appreciated BSE operation and oted that it was one of the important stages for development of Azerbaijan Securities Market.

He also noted that Azerbaijanâ€™s GDP increased by 3.8%, populationâ€™s income by 9.8% during the 8 months of 2010. Azerbaijanâ€™s economy increased during the global crisis. Non-oil sectorâ€™s growth exceeds the oil sectorâ€™s growth.

â€œNew instruments have to be established and legislation base of securities market has to be improved for the development of Fund Marketâ€ he stressed.

Chairman of State Committee for Securities Rufat Aslanli spoke about the history of Fund Market, development of Azerbaijanâ€™s economy in latest 5 years: â€œAzerbaijan is one of the countries developing quickly in world economy in 2005-2009. Thus, the GDP increased by 3 times, populationâ€™s income by 2.9 times and strategic currency stocks by 10 times. â€

Roland Kobia, Ambassador, Head of the European Union Delegation to Azerbaijan the European Commission noted that Azerbaijan develops quickly. According to him the cooperation between BSE and European Union will develop inn the future.