Minister Jeenbek Kulubaev receives Deputy FM of Russia Sergey Ryabkov

Minister of Foreign Affairs of Kyrgyzstan Jeenbek Kulubaev received Deputy Minister of Foreign Affairs of the Russian Federation Sergey Ryabkov, who arrived in Kyrgyzstan to participate in the Regional Seminar “Strengthening the Nuclear Nonproliferation Regime”.

During the meeting, the sides discussed topical issues of Kyrgyz-Russian cooperation both on bilateral and multilateral platforms and upcoming foreign policy events.

The interlocutors expressed their readiness for further interaction in order to expand and deepen Kyrgyz-Russian relations in the spirit of alliance and strategic partnership.

Source: Kyrgyz National News Agency

“Azvirt” LLC net profit drops by AZN 8.7 mln

In 2022, net profit of “Azvirt: LLC dropped by AZN 8.7 million due to currency exchange difference on road construction works performed outside Azerbaijan. As a result, the annual profit due to its owners (AZN 232,000) dropped 20 times as compared to the previous year, the financial report http://azvirt.com/sites/default/files/2023-09/Azvirt_LLC_IFRS_EN_Report_31.12.2022_V5_RI_VB.pdf of the company says.

Last year, the volume of construction works performed by the company (AZN 573m) rose by 1.7%. At the same time, foreign construction contracts (Serbia, Kyrgyzstan, Ukraine, Bosnia and Herzegovina) generated AZN 363 million, whicg is down by 15.1% from 2021. In Azerbaijan, AZN 207.2 million of work was performed. This is up by 54.1% from the volume of works for 2021.

For 2022, the company generated a balance sheet profit of AZN 16.6m, which is up by AZN 5.8m from the previous year. “Azvirt” LLC paid tax on profit in the amount of AZN 7 million 687.000 (+78.7%).

In 2022, “Azvirt” LLC’s assets (AZN 385.7 million) exceeded its liabilities by AZN 59.1 million.

At that, “Baker Tilly Azerbaijan” issued a positive audit report on the company’s financial report on 31 July.

As a reminder, “Azvirt” LLC was established in 1995 with 11%, 40% and 49% equity participation of “Azerbaijan Airlines” state concern (AZAL), Baku City Executive Authority and German company “Virtgen International GmbH” respectively.

Note that the current shareholding structure consists of two German companies, “Martin Beteiligungs GmbH and Co KG” (30%) and “Walz GmbH and Co KG” (20%), “Falcom Holding s.a.r.l” (Luxembourg, 25%) and Azerbaijani citizen Elnur Aliyev (25%).

Source: Turan News Agency

Azerbaijan to increase fertilizer exports to Brazil

The agenda is to increase the volume of fertilizer exports from Azerbaijan to Brazil on a sustainable basis, said Deputy Foreign Minister of Azerbaijan Elnur Mammadov at an event dedicated to Brazil’s Independence Day, Trend reports.

“The trade turnover between our countries is increasing, and the agenda is to increase the volume of fertilizer exports from our country on a sustainable basis, which is important for Brazil to ensure stable growth of its agricultural production,” Mammadov said.

Also, according to the deputy minister, a number of draft documents in various fields are currently being considered.

“A total of 15 draft agreements are under consideration, two of which are agreements on education and agriculture. They are expected to be signed in the near future,” he added.

The deputy minister also said that events dedicated to the culture of both countries are regularly organized in both Azerbaijan and Brazil. This year it is planned to hold a number of events in connection with the 30th anniversary of the establishment of diplomatic relations between Azerbaijan and Brazil.

Source: Trend News Agency

EBRD discusses cooperation plan for 2023-2025 in Baku

President of Azerbaijan, Ilham Aliyev, welcomed a delegation led by Jurgen Rigterink, the First Vice President of the European Bank for Reconstruction and Development (EBRD), in a meeting that took place on September 7. Although the specifics of the meeting’s agenda were not disclosed, critical information regarding the EBRD’s ambitious plans for Azerbaijan emerged.

The EBRD has committed to allocate a substantial sum of $750 million between 2023 and 2025 for the implementation of diverse projects within Azerbaijan. Approximately $300 million of this funding is expected to be signed into effect this year. These projects will encompass sectors such as energy, transport, finance, and the promotion of small and medium-sized enterprises.

Significantly, the transportation projects, among others, hold the promise of facilitating Azerbaijan’s integration into the Middle Corridor, an initiative aimed at fostering connectivity between Europe and Asia.

In 2022, the EBRD sanctioned the allocation of 86 million euros to Azerbaijan, earmarked for the realization of nine distinct projects. Notably, a substantial 71% of this allocation was directed towards green energy initiatives.

Azerbaijan’s membership in the EBRD, established since 1992, has resulted in significant cooperation, with the bank providing loans totaling almost 3.8 billion euros for the successful implementation of 185 projects in the country. Presently, the EBRD’s portfolio comprises 33 active projects in Azerbaijan, collectively exceeding a value of 800 million euros.

A government source told Turan that this cooperation reflects Azerbaijan’s commitment to strengthening strong partnerships and economic growth, backed up by invaluable support and investment from international institutions such as the EBRD

Source: Turan News Agency

Umbriel Temiraliev dismissed from post of head of National Investment Agency

Umbriel Temiraliev has been relieved of his post as Director of the National Investment Agency. The corresponding order was signed by the President of Kyrgyzstan Sadyr Japarov.

It is noted that the official was dismissed in connection with the transfer to another job. He worked in the position for almost a year.

Talantbek Imanov has already been appointed to his place. Sadyr Japarov signed a decree, according to which Talantbek Oruskulovich Imanov was appointed Director of the National Investment Agency under the President of the Kyrgyz Republic.

Source: 24.kg News Agency

Elderly couple lives without electricity in a Naryn village for 3 years

Omurzak Yryskulbekov, 64, and Beishebubu Monoldorova, 57, reside in the newly developed residential area Ulan-2 within At-Bashy village in Naryn region.

They have been living three years without electricity.

Despite filing appeals with local authorities and the district mayor regarding this pressing issue, no resolution has been achieved. Two months ago, a power line extension was made, but the problem remains unresolved.

The couple has two sons, one daughter, and five grandchildren. Additionally, Yryskulbekov is classified as a disabled person of the 2nd group.

“We were granted this piece of land due to my husband’s condition, and we constructed our home through our own efforts. Both of us are retired. We are living without electricity for three years. Moreover, we lack access to clean water and must transport it ourselves. We cook our meals outdoors using an oven. Our situation has become extremely challenging,” stated Monoldorova.

Ruslan Dokoev, the head of At-Bashy vilalge, assured that the household will soon receive the electricity supply.

Source: Central Asian News Services

Energy Week Central Asia and Mongolia 2023 to promote clean and renewable energy initiatives

The Energy Week Central Asia and Mongolia 2023 will take place in Astana on September 19-20. The event will focus on advancing clean and renewable energy initiatives in the regions, reported The Astana Times, citing conference’s press office.

The conference highlights the region’s significant potential in solar, wind, and hydroelectric power, and its cooperation with international companies to transform Central Asia into a clean energy hub.

To encourage renewable energy adoption, transparent regulations, public-private partnerships, and financial incentives such as tax breaks or subsidies are essential for attracting the private sector investments.

Attracting domestic and foreign investment is a key step toward achieving sustainable development and energy security in the region, as Central Asian countries look to diversify their energy sources and reduce their carbon footprint.

The conference will feature detailed discussion on solar photovoltaic technologies to establish grid-connected solar farms, distributed solar installations, and off-grid systems to power remote areas.

With decreasing costs of solar panels and improving efficiency, solar energy can be used to reduce greenhouse gas emissions, enhance energy security, and create job opportunities in the renewable energy sector.

Wind energy developments in Central Asia and Mongolia present a valuable opportunity to diversify their energy mix and reduce dependence on fossil fuels. As Central Asian countries are strategically positioned to become major green hydrogen exporters, the region’s green hydrogen potential is highlighted as a key driver of a low-carbon economy.

Source: Central Asian News Services

Kazakhstan and Uzbekistan to strengthen control over energy resources at border

The law on the ratification of the “Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Uzbekistan on Joint Customs Control for the Movement of Energy Resources through the Kazakhstan-Uzbekistan Customs Border by Pipeline Transport and Power Transmission Lines” has been adopted by the Parliament of Kazakhstan, Centralasianlight.org reported with refernce to Kazinform.

The agreement between the two countries was signed on December 6, 2021, in Astana. Uzbekistan ratified the agreement on May 6, 2022.

“The purpose of the agreement is to enhance the efficiency of control over energy resources transported through the Kazakhstan-Uzbekistan customs border by pipeline transport and power transmission lines,” said Erulan Zhamaubayev, Deputy Prime Minister and Minister of Finance of Kazakhstan, during a plenary session of the Majilis (Parliament).

The agreement provides for the organization of joint customs control over energy resources transported through the Kazakhstan-Uzbekistan customs border by pipeline transport and power transmission lines through:

Conducting monthly events by customs authorities of the parties together with representatives of agencies responsible for the operation of metering devices to take readings from metering devices.

Verification of the integrity of imposed customs identification means, removal/imposition of identification means on metering devices.

Furthermore, the agreement stipulates the exchange of information on their experience in customs declaration and customs control of energy resources, as well as on identified facts and methods of identifying and preventing violations of national legislation of states in the field of customs affairs.

Source: Kyrgyz National News Agency