Capital markets have significant potential in Azerbaijan, as the country plays an essential and unmatched role in the South Caucasus economy.
London, UK (PRWEB UK) 10 November 2014
The European Azerbaijan Society (TEAS) facilitated a landmark meeting at the London Stock Exchange on 6 November – the heart of the City of London – between representatives of the London Stock Exchange Group (LSEG) and an Azerbaijani delegation. The meeting came a day after the fourth TEAS Business Forum, during which opportunities in the nascent financial services sector and the evolution of capital markets were highlighted as being essential steps towards the further development of the country.
Nikhil Rathi, Head of International Development and Chief of Staff, LSEG, said: “The TEAS Business Forum demonstrated that there is a great deal of interest and excitement surrounding the development of Azerbaijan. The country has very strong growth prospects, and the Asian Development Bank is predicting GDP growth of 5 per cent next year. Azerbaijan has a number of initiatives in place to use private sector-led investments to develop its infrastructure. Aside from the hydrocarbons sector, the small- and medium-sized enterprises (SME) market is increasing in importance, and these companies are the engines of any developing economy.
“Capital markets have significant potential in Azerbaijan, as the country plays an essential and unmatched role in the South Caucasus economy. We are delighted to welcome the Azerbaijani delegation to the London Stock Exchange.”
Taleh Kazimov, Chief Investment Officer, Pasha Bank, said: “Today has been an important day in the development of closer links between Azerbaijan and London. I was delighted to be part of the delegation to visit the London Stock Exchange, one of the world’s most international capital markets.”
Presentations were then made to representatives of Pasha Bank, AFB Bank and GoldenPay – the first Azerbaijani online payment service, which recently issued the country’s first initial public offering (IPO).