Baku, Fineko/abc.az. The Economist Group with sponsorship of PASHA Bank has held today in Baku an executive forum “Buttonwood Breakfast; Searching for growth: the business and economic outlook.

After the forum Economist Conferences Head of Programmes, Continental Europe, Middle East & Africa Dougal Thomson said that within the discussion the sides did not cover the tools to be applied for capital market development in Azerbaijan.

"The event participants focused on the development of the stock exchange. With this purpose the discussion involved a representative of the Istanbul Stock Exchange, a dynamic and successful fund institutions in the region. If Azerbaijan manages to create the equivalent of a stock exchange ensuring the liquidity of companies’ shares and efficiency of capital market, it will find support of private investors," Mr. Thomson considers.

The experts involved in the discussion identified two major issues the country faces - the capital market reforms that will enhance the ability to attract private investment, and reforming the education system to provide the market with highly qualified specialists of Azerbaijan. Solution of these issues will help resolve the third problem of the country – diversification of the economy from oil dependence. Attracting of private investments will also help develop other sectors such as agriculture, telecommunications, transport, and processing industry.

The Istanbul Stock Exchange is one of the BSE shareholders.

04.04.2012 15:02