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ECO high-level expert group meets in Baku

21 May 2009 12:28 (UTC +04:00)

Baku. Rashad Suleymanov - APA-Economics. The 3rd meeting of the ECO high-level expert group on private sector and privatization and 4th meeting of heads of ECO privatization agencies have kicked off in Baku.

The event is being attended by delegation from 10 countries, including Azerbaijan, Turkey, Iran, Afghanistan, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan and Uzbekistan.

Kerem Hasanov, Chairman of Azerbaijanâ€™s State Committee for Property Issues, said the outset that about 42 000 small and medium-sized enterprises and objects have been privatized and nearly 1 600 medium-sized and large enterprises were converted into joint stock companies in the country since 1995.

In his words, more than 500 000 private owners have emerged after over 250 000 joint stock companies and small objects were privatized.

â€œAbout $447 million has been invested in enterprises which were privatized through investment tenders. About $350 million is due to be invested in these enterprises in coming years,â€ he added.

Metin Genckol, Director of ECO, said heads of ECO member countriesâ€™ privatization agencies will deliver reports and discuss a number of issues, including the launch of ECO privatization website.

At the meeting of expert group on private sector and privatization, the delegations will hold presentations of their countries and the ECO secretariat will provide information on the implementation of action plan for privatization.

The meetings will conclude with a declaration on behalf of the ECO member states.