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The Economist organizes roundtable in Azerbaijanâ€™s capital

04 September 2008 10:31 (UTC +04:00)

Representatives from 69 local and foreign companies are attending the conference.
A number of issues including the interests of business leaders, the development of non-oil sector, businesses-government relations, property rights, the impact of Russia-EU relations on business, fighting corruption, the role of the financial sector in supporting private enterprise etc. are being discussed.
Azerbaijanâ€™s Minister of Finance Samir Sharifov, Minister of Industry and Energy Natig Aliyev, Minister of Economic Development Heydar Babayev and Chairman of the National Bank of Azerbaijan (NBA) Elman Rustamov have joined the event.
Samir Sharifov and Elman Rustamov are expected to make speeches on the prospects of financial sector reforms in Azerbaijan.
In additions, the topics of government spending, opening up of the local market to foreign competition, major financial reforms for 2008-2009, the prospects and potential for the development of the tourism sector, strengthening of free courts and energy projects are being deliberated on.
Daniel Matthews of Baker & McKenzie said that despite the improvement of business environment in Azerbaijan, the country needs some work to do for further progress:
"These include the improvement of the procedures of issuing loans and the closing of gaps in the Civil Code for Lending", he added.
Anna Walker, Editor-in-Chief of the Economist added that the main purpose of the event is to analyze the economic development of Azerbaijan, hold the discussions with the government on the activities and inform the public.