`` Economic News Bulletin, February 2019 Diplomatic Mission of the Republic of Azerbaijan in Bosnia and Herzegovina Dzemala Bijedica 305, 71210, Ilidza, Sarayevo TEL: (+387 33) 695 802/803/804 FAX: (+387 33) 695 801 E-MAIL: [email protected] WEBSITE: sarajevo.mfa.gov.az ECONOMIC NEWS BULLETIN IN THIS ISSUE: OIL& GAZ TRANSPORT ICT OIL & GAZ plant. “It is a wonderful result of the SOCAR Polymer`s becoming fully industrialization policy in our country in operational is remarkable event, general,” said President Ilham Aliyev. Azerbaijani President “SOCAR Polymer`s starting to work at full Energy Minister: There is growing capacity is a interest in Southern Gas Corridor remarkable event,” project said President “There is growing interest in the Southern Ilham Aliyev at the Gas Corridor inauguration of project,” Azerbaijan’s SOCAR Polymer Energy Minister high-density polyethylene plant in the city Parviz Shahbazov of Sumgayit. told a press “There are many plants in the Sumgait conference following the Fifth Ministerial Chemical Industrial Park and SOCAR Meeting of Southern Gas Corridor (SGC) Polymer definitely has a special place Advisory Council. among them. A polypropylene plant was “The Joint Declaration signed by inaugurated here last year. And today we participants of the Fifth Ministerial Meeting mark the opening of the high-density of the Southern Gas Corridor Advisory polyethylene plant.” Council brought to the fore the strategic “So SOCAR Polymer becomes fully partnership and the role of Azerbaijan, operational, which is a very remarkable which is the linchpin of the project. event,” said the head of state, adding that President Ilham Aliyev praised the it testifies to Azerbaijan`s development and achievements in the implementation of the foreign financial institutions’ confidence in Southern Gas Corridor project. This year the country. meeting saw an increase in the number of The President said foreign banks were participants. Representatives from 17 actively involved in the construction of this countries, including Serbia, Hungary and Economic News Bulletin, February 2019 San-Marino joined the meeting. This is an Azerbaijan, UK mull energy cooperation obvious example of growing interest in the Azerbaijan’s Minister of Energy Parviz Southern Gas Corridor project,” said Shahbazov has Minister Shahbazov. met with the The 5th Ministerial Meeting of the SGC British Prime Advisory Council was held in Baku on Minister's Trade February 20, 2019. The first meeting was Envoy to held on February 12, 2015, the second Azerbaijan Baroness Emma Nicholson to meeting on February 29, 2016, the third discuss Azerbaijan-UK energy meeting on February 23, 2017, and the cooperation. fourth meeting on February 15, 2018. They discussed the UK`s assistance to Azerbaijan`s energy projects, pointed out Minister: Mongolia is keen to benefit the achievements of the Southern Gas from Azerbaijan’s rich experience in oil Corridor project, which involves BP among and gas industry other companies, and hailed the “Mongolia is keen to take advantage of development of bilateral relations in the Azerbaijan’s rich field of renewable energy. experience in the Minister Shahbazov stressed wide field of oil and opportunities for Azerbaijan-UK long-term gas,” said the cooperation in areas beyond energy, and country’s Energy described the UK as an important partner Minister Tserenpil Davaasuren as he met of Azerbaijan. with his Azerbaijani counterpart Parviz They also exchanged views on regional Shahbazov. and global issues. The Mongolian minister described his visit as well as meetings in Baku as an Baku hosts meeting on implementation opportunity to strengthen cooperation of roadmap for beneficial ownership between the two countries in energy and disclosure in extractive industries of other spheres. Highlighting the Azerbaijan development of the oil and gas sector in Extractive Industries Transparency (EIT) Mongolia, Davaasuren pointed to great Commission, Asian potential for cooperation in this area. Development Bank Davaasuren also expressed his country`s and local and foreign willingness to encourage Mongolian consultants who students to study at Azerbaijan State Oil have executed the and Industry University. “Implementation of Minister Shahbazov said Azerbaijan is the Roadmap for Beneficial ownership ready to share its experience and disclosure in the extractive industries of the collaborate in the areas of mutual interest Republic of Azerbaijan” have organized with Mongolia. He expressed confidence the first plenary meeting on the that the signing of the Memorandum of implementation of the project. Understanding on energy cooperation The session panels of the meeting between the energy ministries of Mongolia discussed the importance of disclosing and Azerbaijan will contribute to this beneficial ownership in the extractive process. industries, key elements of the beneficial They exchanged views on the current state ownership in the extractive industries, of the energy industry in both countries and current definition of this terminology in the discussed prospects for cooperation in the law of the Republic of Azerbaijan and its non-oil sector. proposed definitions, implementation of 2 Economic News Bulletin, February 2019 international experience on the project and impetus to the development of relations in other issues. the field of energy, including intensive The meeting was attended by cooperation within OPEC+format as well representatives of the Government of the as Baku`s holding the next meeting of the Republic of Azerbaijan, international OPEC-Non-OPEC Joint Ministerial organizations, delegates from the Monitoring Committee in March. diplomatic missions, members of the local Co-chair of the commission on behalf of and foreign extractive industries Saudi Arabia, International Relations companies operating in Azerbaijan and Adviser at the Ministry of Energy, Industry civil society. and Natural Resources Shaker Mahrous said developing multilateral cooperation in SOCAR's investment projects in Turkey the energy sector meets common interests discussed of the two countries. The investment projects implemented by The commission focused on oil production, the State Oil refining and delivery of petrochemical Company of the products to world markets, as well as the Republic of expansion of relations between Saudi Azerbaijan (SOCAR) Aramco and SOCAR, prospects of in Turkey have been SABIC's implementing petrochemical discussed as projects in Azerbaijan, as well as SOCAR President Rovnag Abdullayev met cooperation in the fields of renewable with a delegation led by Turkish Minister of energy and energy efficiency. Energy and Natural Resources Fatih The two countries also exchanged views Donmez. on the creation of a legislative basis in the The sides emphasized Azerbaijani field of renewable energy, cooperation with President Ilham Aliyev’s and Turkish the private sector, and cooperation with President Recep Tayyip Erdogan’s international companies. attention and constant support for all the operations carried out by SOCAR in TRANSPORT Turkey. They discussed the huge Baku hosts first meeting of Azerbaijan- investment projects implemented by EU high-level transport dialogue SOCAR in Turkey and their contribution to The first meeting of the Azerbaijan-EU the development of strategic partnership high-level transport between the two countries. dialogue has kicked Following the discussions, the Turkish off in Baku. delegation viewed the interactive oil Addressing the exhibition installed at SOCAR Tower. event, Minister of Transport, Communications and High Azerbaijan, Saudi Arabia discuss ways Technologies Ramin Guluzade highlighted of expanding energy cooperation what has been done in the field of transport Azerbaijan and Saudi Arabia have in the country, including in railway, explored the maritime and aviation areas. The minister ways of underlined the successful development of expanding the the Azerbaijan-EU cooperation. bilateral energy European Commission Director-General cooperation as a for Mobility and Transport Henrik Hololei Joint Technical Commission held its first said they have closely followed the meeting. activities of Azerbaijan in the field of Azerbaijani Deputy Minister of Energy transport, adding that the country has Samir Valiyev hailed factors that give become a logistic hub. 3 Economic News Bulletin, February 2019 Henrik Hololei described the Baku-Tbilisi- established in June 2002 with the support Kars railway as an important transit route of the largest oil and gas companies between Europe and Asia. He said they working in the Caspian-Black Sea region have already visited Heydar Aliyev and with the active involvement of the International Airport and got acquainted Caspian Energy International Media with the activities of the Azerbaijan Airlines Group. CJSC, Buta Airways and Silk Way. The event featured discussions on a Warsaw hosts first meeting of variety of issues, including aviation, Azerbaijan-Poland Working Group on maritime, road safety and regional transport and logistics cooperation. The first meeting of Azerbaijan-Poland Joint Working Group Business-forum of Caspian European on transport and Club and Ministry of Transport, logistics has been held Communications and High in Warsaw. Technologies postponed The meeting was co- The joint business forum of the Caspian chaired by Deputy Minister of Transport, European Club and the Communications and High Technologies Ministry of Transport, Elmir Valizade on behalf of Azerbaijan