Finance

Finance

Azerbaijan develops a new action plan for securities market

06 April 2009 08:38 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijan State Committee for Securities hosted a meeting with the Expert Group of the European Union’s TACIS (Technical Assistance to CIS) for Azerbaijan Exports and Investment Environment Support Project.
Rufat Aslanly, the Chairman of the Committee, spoke about the development of securities market infrastructure in the project, which will be completed by the end of 2010.
According to him, the priority is to bring the National Depository Center into line with international standards and improve the trading system market.
The meeting concluded with a plan of action.
The plan includes the implementation of activities to develop legislation and regulation frameworks, as well as increasing institutional capacity of the Committee, the National Depository Center and the Baku Stock Exchange and organizing training programs.
The main beneficiaries of technical assistance project for the separate components are the State Committee for Securities, the Baku Stock Exchange, Azerbaijan Investment Company and Azerbaijan Export and Investment Promotion Foundation (AzPromo).