Azernews.Az

Leading international business and consultancy company The Business Year (TBY) and the Chairman of the Board of Baku Stock Exchange (BSE), Mr. Emin Aliyev, have held a business meeting to discuss his recent appointment, the achievements of the financial institution since it was established, and the BSE’s targets for 2012.

Mr. Aliyev stated that the BSE, which has 12 members and 19 shareholders, aims to become a leading financial institution in Azerbaijan and contribute to organizing a more transparent and fairer market. During the first 10 months of 2011, the BSE’s trading turnover exceeded 6 billion manats ($7.69 billion), having an average daily turnover of 18.4 million manats ($23.58 million) in October.

The Chairman of the Board of BSE, who met with TBY Country Manager Ms. Gulay Sultan and Country Editor Mr. Ruben Martinez, also talked about FDI in Azerbaijan, which exceeded $95 billion during the last decade. "We expect Azerbaijan to become a major destination for FDI in all sectors and the security market in 2012."

Other topics included the institution’s strategies for 2012, which includes the launch of a stock market capitalization index and internal and external indexes. The Baku Stock Exchange also expects to reach $10 billion in trading volumes over 2012.

After the success of TBY’s first publication on Azerbaijan’s economy, its research team is back in the country preparing a 2012 edition. The team is in the process of conducting more than 150 face-to-face interviews with Azerbaijan’s top decision makers to better understand and more accurately reflect the business sentiment in the country.

The research will be published under the title The Business Year: Azerbaijan 2012, and will be one of the most comprehensive reviews of the Azerbaijani economy published internationally. The target readership of the publication includes top executives, policy makers, and media representatives around the world.