February-March 02-03/2010 Economic Research Center


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February-March 



 02-03/2010 

Economic Research Center 

 

NEWSLETTER 

 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

Projects 

 

The pension reforms was discussed 

 

Economic Research Center (ERC) has organized round table on “Current pension system and 



reforms in the Republic of Azerbaijan” in February 18, 2010. Local and international organizations, 

governmental bodies, embassies of foreign countries and as well as representatives of mass 

media have participated at the meeting.  

The round table has been dedicated to presentation and discussion of research report on “Current 

pension system and reforms in the Republic of Azerbaijan” within the “Evaluation of impact of 

state budget expenditures from macroeconomic equilibrium perspective on social field“ project 

implemented by ERC experts with financial support USAID, “Civil Society Development Project” 

and organizational assistance of National Budget Group.  

Gubad Ibadoglu, the chairman of ERC Management Board delivered first remarks at the meeting 

and provided information about implemented activities within the project and also emphasized the 

importance of reforms in pension system. According to him, current pension system of Azerbaijan, 

its establishment date, implemented reforms and achieved results were analyzed and possible 

scenarios and perspectives, as well as prepared recommendations were reflected in the report 

presented for discussion. 

 

   


 

 

Fuad Rasulov, member of National Budget group and the chief author of research report 



presented it to the meeting participants. The history of world pension system, and  the 

transmission process from “unanimity system” to “ individual” system, the implemented reforms in 

Azerbaijan and their essence, information on obtained results, including The history of world 

pension system, the transmission process from “unanimity system” to “individual” system, the 

implemented reforms in Azerbaijan and their essence, information regarding obtained results, 

including double sceneries in respect to possible perspectives had embodied in the report.  



 

 

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February-March 



 02-03/2010 

 

After the presentation, round table carried on with discussions. Members of Milli Maclis Vahid 



Ahmadov, Nazim Mammadov, chairman of Traders and Producers’ Union Sevgim Rahmanov, 

chairman of Support for Economic Initiatives Public Union Azer Mehtiyev, chief of Public 

Association for Assistance to Free Economy Zohrab Ismayil, chief of department of State Social 

Defense Fund Idris Isayev and other seniors had participated at the discussions.  

 

 

Economic Research Center issued the inflationa indicators 



within January 

 

Economic Research Center (ERC) presented the results of prices of statistical observation 



conducted in 22 regions of Azerbaijan  throughout January 2010 within the framework of 

“Calculation of alternative inflations level and development of models” which is financed by SECO 

for February 19, 2010. 

According to the statistical observation conducted by ERC, at the first month of 2010 1,06 % 

inflaton has been recoreded in Azerbaijan. The Consumer Price Index was increased up to 1,43 % 

in Baku and in the regions up to 0,71 %. Compared to January of previous year, the price of 

consumer index had risen 3,25 %. Nevertheless, in comparison with January of 2009 the level of 

inflation in Azerbaijan had recorded as 3,25 %.  

During January, the most significant rise in price remain among fruit and vegetables arranged 

(6,25 %), sugar, tea and spice up to (3,86 %). Nevertheless, considerable fall in price have been 

recorded on non-food products, such as in construction materials (0,65 %). 

It should be noted that, the official statistical body proclaimed 0,5 % inflation for January 2010, 

compared to last year 1,8 % inflation has been recorded in Azerbaijan. Government predicts 3 % 

inflation till the end of current year.  

 

 

The recommendation packages on pension reforms were 



presented to state bodies 

 

Economic Research Center is pursuing its activity on  “Evaluation of Impact of State Budget 



Expenses on Social Field from Macroeconomic Equilibrium Perspective” funded by Counterpart, 

Civil Society Project, Open Society Institute Assistance Foundation and organizational support 

provided by National Budget Group.  

 


 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

During the first term of current year, the research has been executed within the framework of “The 



current pension system and reforms of the Republic of Azerbaijan” project and the final report has 

been prepared and discussed. Furthermore, the final report was submitted to Social Defense 

Fund, Ministry of Labour and Social Protection of Azerbaijan Republic, Ministry of Economic 

Development and Research Institute on Labour Issues in order to retrieve their opinions related to 

this report.  

In addition to this, Fuad Rasulov, the expert of the project has held a meeting at State Social 

Defense Fund. The deputy chairman of Fund, Elman Mehdiyev, and including the head of the 

department Elshan Mammadaliyev also took part in this meeting. During the meeting, the 

discussion was conducted focusing on prepared political document by ERC and parties 

exchanged their point of views and opinions on this topic. Besides, representatives of the Fund 

have divulged their attitude to the document.  

In February 19, ERC has held a round table discussion within the framework of “The current 

pension system and reforms of the Republic of Azerbaijan” project. The representatives of local 

and international organizations, governmental entities, foreign embassies in Azerbaijan, including 

mass media took part at the event. The outcomes of the meeting have been elucidated at over 10 

mass media and 3 TV networks.  

In February 27, the coordinator of the project Gubad Ibadoglu, including expert Fuad Rasulov, and 

chairman of “Elderly intellectuals Care Society” held debate on the topic of “The perspectives and 

problems of pension system in Azerbaijan” at the “Economic Forum” telecast in ANS TV.  

 

 



 

Information base on foreign trade had been established 

 

Economic Research Center with financial support of Open Society Institution Assistance 



Foundation pursues its activity regarding the implementation of “Mirror statistics and foreign trade 

of the Republic of Azerbaijan” research project. The main activity executed within the framework of 

the project which is unleashed in January was establishing information-statistic base for research 

issues. For this purpose, the methodology of the research was prepared and the geography of the 

countries involved for research was determined at the initial stage. Numerous criterias were taken 

into account for this aim. These are as follows:  

 

The main partner countries in foreign trade of Azerbaijan, essentially countries in 



respect to import operations  

 

Countries located in border with Azerbaijan and main non-partner countries 



 

 

 

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February-March 



 02-03/2010 

 

 



Countries having considerable impact to world’s foreign trade policy ( USA, Japan and 

etc)  


 

Countries which their import mainly dependent on raw materials ( Kazakhstan, etc)  

 

The relevant structures and organizations of 15 countries selected based on above mentioned 



criterias was addressed for the aim of collecting information on bilateral trade with Azerbaijan 

during 2003-2009. Foreign trade statistics about 11 countries have been already accumulated. 

Simultaneously the information based on Azerbaijan’s official statistics in regard to bilateral trade 

of those countries had been obtained and comparative information base also had been 

established based on accumulation of information from both two parties- Azerbaijan and its trade 

partners.  

Currently, the conduction of calculations on accumulated information is being followed with 

increasing the numbers of countries involved in research. In addition, it is planned to acquire the 

results of initial version of research report and mirror statistics.  

 

 



The impacts of global financial crisis into business field had 

been investigated 

 

Economic Research Center jointly with North Caroline University of USA has conducted research 



entitled The Dutch Disease in Azerbaijan: A Disease after all?. The team of researchers financed 

by the U.S. Department of States has investigated impacts of Dutch disease in Azerbaijan. 

Businesses operating in Azerbaijan were surveyed to assess the impact of syndrome of 

production enterprises and its influence to producers. Analysis of survey was presented for 

Azerbaijani public in March 4, 2010. Moreover, the representatives and senior officials from state 

bodies, business entities, deputies, international organizations and foreign embassies in 

Azerbaijan, including local experts and Mass Media participated at the conference jointly 

organized by ERC and Entrepreneurship Development Fund.  

First, Dr. Rasim Huseynov, member of ERC Management Board spoke on macro-economic 

impact of global financial crisis. As he stated, 2009 was a tough period for Azerbaijan’s economy 

in the last decade.   

Afterwards, Mr. Ibadoglu, chairman of ERC Management Board presented the results of the 

business survey. First of all, he outlined the characteristics of companies engaged at survey and 

according to him respondents who are involved at research come from various enterprise fields, 

such as 25% from service spheres, 17% trade, 16 % finance, bank and insurance system, 13 %  


 

 

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February-March 



 02-03/2010 

 

from processing field, 7 % construction, 6 % communication, 3 % agriculture, and eventually 2 % 



are operating at mine industry. 

Eighty percent of survey participants underlined feeling negative impact of global financial crisis 

however, 20 percent stated they have not subjected to crisis. 47,54 percent of respondents who 

chose first answer stated they have felt global financial crisis impacts since 2008, and 52,46 

percent replied crisis became influence them since 2009.  

Due to calculate actual impacts of crisis the changes on financial indication evolution before the 

crisis and also within crisis period were requested from survey participants during the research 

period. It was clarified that, 33,8 % of companies’ profits coming from sale were arranging over 30 

percent and 38,2 % of companies’ incomes were growing between 5-30 percent, however during 

the crisis period it was on the contrary, 28 % of respondents’ profits were arranging over 30 

percent, and 60,3 % of respondents’ profits started decreasing between 5-30 figures. The similar 

tendency has been observed in regard to full time employees. Furthermore, while before the crisis 

22, 8 % of survey respondents increasing the quantity of full time employees over to 30 %, and 

33,3 % between 5-30%, but during the crisis these figures have been shifted. So, 60 % of 

respondents decreased the quantity of employees to 5-30 % and 28 % of them reduced by 30 %. 

G.Ibadoglu underestimated that the official figures of State Statistical Committee of Azerbaijan 

Republic had impact to the existence of this tendency. G.Ibadoglu also emphasized that according 

to the information survey procured from Committee the quantity of reduced employees arrange 

3037 in 2008, and 8747 persons for 2009. This means that just because of the impact of global 

financial crisis Azerbaijan’s economy has lost 3 times more job positions compared to last year.  

 

   


 

 

After the presentation, the floor was opened for discussion and brainstorming. The representative 



of Independent Consumers Union Fariz Adigozalov, delegate from SECO Naila Safarova, 

including representative of Azerbaijan State Economic Unievrsity Muslim Ibrahimov, including 

member of Milli Maclis Nazim Mammadov, deputy chairman of Economic Initiatives Assistance 

Public Union Rovshan Agayev, and other experts held discussions around the topic.  



 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

Economic Research Center issued the  report 

 

Economic Research Center had arranged “ ERC in 2009: final-repot conference” aiming to expose 



the realization of the organization commitments for 2009, program and financial activity related to 

this, as well as conducting report about current plans of 2010 for its audience in March 11, 2010. 

Besides, the conference aimed also assessing the obtained outcomes and investigating 

perspective approaches and collaboration facilities. 

G.Ibadoglu, chairman of ERC Management Board provided the participants with information 

regarding activities of Center. He stated that the main objective of Center is foster effective and 

sustainable civic engagement in all levels of public administration and thus more citizens’ access 

to the related information through building favorable interactions between the government and civil 

society. “The Center’s major research dimensions cover the issues on popularizing the economic 

and business knowledge in the society, enhancing transparency and accountability, public 

participation and decentralized governance issues. Therefore, the Center is conducting regular 

researches on analyzing state policy in the field of macro-economy and assessment of 

predictions, calculation, modulation and prediction of alternative indications aiming to preserve 

macro-finance stability, analysis of agrarian market, increase the process of budget transparency. 

The Center also fulfills researches on assessment of efficiency and outcomes of financing social 

programs (particularly, in the field of health and education) and as well as inspection of household 

budget”.  

 

The research dimensions are grounded in the following fundamental belief: 



 

That the Effective teaching Methodology should entail a holistic approach to education 

issues, whether in economic field or otherwise, which can go far beyond conventional 

method of teaching; 

 

That the New Public Management under decentralized governance should be based 



on inclusive policies and transparency; 

 

That it is vital to keep people aware of evolving issues of nationwide interest or 



concern to ensure timely accountability on the side of public officials.  

 

ERC has arranged effective collaboration with 13 donor organizations within the framework of 14 



projects in 2009. In general, Center has also established effective and long lasting relations with 

multiple international organizations and networks, local civic societies, including state bodies. It is 

not only local sources that refer to ERC’s research but foreign mass media as well. (For instance: 

The Economist, Financial Times, CNN, AlJaazera etc.)  

 


 

 

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February-March 



 02-03/2010 

 

Furthermore, ERC has held 9 conferences (including 1 international conference), 9 round table 



discussions, 12 presentations and public discussions, 2 seminars and trainings and 1 radio 

debate. Over 30 local and foreign specialists, as well as representatives of international 

organizations and foreign embassies, including roughly 15 Mass Media took place. In addition, 

department on Public affairs of ERC had published 14 press releases within different spheres. The 

opinions and interviews of ERC experts in different matters elucidated between 70-80 times in a 

month at mass media. At the same time 9 informational bulletin related to ERC’s activities was 

published in two languages (Azerbaijan and English) and including 7 editions of “Expert” magazine 

has been published and distributed among partners.  

G.Ibadoglu further spoke about ERC’s challenges and also limitations that imposed on to civic 

society institutions: “Limitations of participation in state programs, weakness of partnership 

opportunities with private sector, existence of problems in development of Civil Society, shortage 

of human and financial resources, lack of journalism professionalism on writing economic articles, 

difficulties on placing information about ERC’s researches at electron Mass Media websites and 

telecasts due to their dependence from political power, including several conservative 

governmental officials’ avoidance from open discussions and debates with ERC experts and 

persecutions on to journalists and mass media structures who disseminate independent 

information are challenging aspects in front of ERC”.  

G.Ibadoglu responded to the questions of participants and the meeting continued with 

discussions.  

 

      



 

 

The results of inflation calculations within February had 



divulged  by ERC  

 

Economic Research Center (ERC) presented the results of prices of statistical observation 



conducted in 22 regions of Azerbaijan  during February of 2010 within the framework of 

“Calculation of alternative inflations level and development of models” which is financed by SECO  



 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

for March 15, 2010. According to the statistical observation, 0,65 per cent inflation was registered 



at the second month of 2010 in Azerbaijan. As a consequence of this, 0,63 % inflation had 

recorded in Baku and at the regions this figure had arranged 0,68 %. Compared to the February of 

previous year, the index of consumer price in the country had increased up to 4, 02 %. In addition 

to this, the price of food products had risen up to 5,98 %, price of non-products went up om,03 % 

and rise in price within services had occurred 2, 39 %.  

During January, the most significant rise in price remain among fruit and vegetables arranged 

(4,73 %), sugar, tea and spice recorded (1,58 %). Nevertheless, considerable fall in price have 

been recorded on non-food products, such as clothes and shoes (1,04%). 

During February 2010/ February 2009 the prices in the capital had risen up to 6,32 % and in the 

regions it arranged 0,24 %. It should be noted that, the official statistical body proclaimed 1,1 % 

inflation for February 2010, compared to last year 2,8 % inflation has been recorded in Azerbaijan.  

 

 



The minimum consumer basket had been calculated 

 

Economic Research Center (ERC) issued the results of prices of statistical observations 



conducted in 22 regions throughout February 2010 within the framework of “Calculation of 

alternative inflation rate and development of models” funded by SECO. ERC has also calculated 

the rate of consumer basket for February based on standards endorsed under through the signed 

decree of Cabinet of Ministries of April 30, 2009. 

According to calculations of ERC experts, the minimum living standard in Azerbaijan was 

estimated at 148, 8 AZN. In addition to this, the minimum rate of consumer basket per person in 

labour force was estimated at 140,14 AZN, whereas in regard to pensioners this is estimated at 

127,16 AZN, and 178, 67 AZN for children of 0-14 age. Moreover, labour force has spent 79,37 

AZN per person on foodstuff, pensioners spent 73,25 AZN and parents of 0-14 age children spent 

89,79 AZN on this category of goods over February. During the month, the minimum expenditures 

for purchasing non-food products in regard to market prices were estimated at 35,33 AZN for 

working people, at 31,53 AZN for pensioners, and at 71,32 AZN for the children of 0-14 age. 

Nevertheless, the service expenditures were recorded as 25,3 AZN, 22,38 AZN and 17,56 AZN 

respectively. 

It is worth mentioning that the decree of Milli Maclis stated the living standard for 2010 to have 

been calculated at 87 AZN, including 96 AZN labour force people, 68 AZN for pensioners and 72 

AZN for the children of 0-14 age. 

 

 



 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

NGOs will acquire assistance on building effective 



public relations 

 

Economic Research Center has launched the so called “Assistance to Civil Society institutions on 



building effective public relations and provision of accountability issues” project under financial 

support of State Support Council in April. The aim of the project is building effective public 

relations, providing technical and methodical assistance for their institutional development through 

increasing NGOs knowledge and skills in the field of transparency and accountability.  

Certain targets have been determined in order to reach the objectives of the project. These are as 

follows:  

 

Determining transparency and accountability principles that has vital importance on 



governance and action of NGOs based on utilizing ERC’s experience and international 

experience.  

 

Preparation and dissemination of recommendations (it includes both foreign and also 



local communications of state, business, Milli Maclis, and mass media) in the field of 

building effective public relations and deliverance of information for NGOs.   

 

Defining key problems and their solution ways existing in the relations of NGO-foreign 



organizations, NGO-business, NGO-governmental structures, NGO-Mass media, 

NGO-Parliament through conducting trainings and seminars and socializing obtained 

positive repercussions through establishing effective advocacy activity.  

 

 



The impacts of climate changes into agriculture  

field to be investigated  

 

Economic Research Center started implementing so called “Social-economic dangers caused by 



climate changes and management of risks” project won at the grant contest within the framework 

of Security and Civic Action on Environment of OSCE in April. The project will cover April-

November 2010 and the aim of it is to calculate additional expenses and the scale of expected 

impacts of climate changes into economy, particularly into agriculture and refining industry, 

conduct researches towards assessing its defects, implement current policy based on delivering 

information in this field, increase public participation and improve practicality on decision-making.  

It is planned to increase the public participation, implementing preventive adjustment measures 

toward management of future risks, calculation additional expenses and the scale of expected 

impacts as a consequence of emerged natural disasters into agriculture within the framework of  


 

 

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 02-03/2010 

 

implemented project in the Ganca-Khazak region. For this purpose, the political document 



embodying adjustment measures due to prevent expected loses will be prepared and submitted to 

relevant agencies and public. Nonetheless, series of trainings will be conducted among financial 

managers due to apply up-coming prepared methodology aiming to plan the expenses for future 

period and calculate of additional expenses emerged from the impact of climate changes. The 

public will be enlightened on climate change causes, damages derived from climate change into 

economy, and social life as well as planning the future expenses.   

Within the framework of the project, the conventions regarding protection of environment and 

climate changes that Azerbaijan had joined, including national legislation will be analyzed and as 

well as the assessment of commitments complied by government will be determined.  

  


 

 

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February-March 



 02-03/2010 

 

Events 

 

The problems existing in municipal economy of Baku was 

brought into discussion 

 

The serious problems generated from severe weather condition on infrastcuture and municipal 



economy of Baku  had been brought into discussion by Economic Initiatives Assistance Public 

Union and Economic Research Center ( ERC) in Febrary 12. Local and international 

organizations, governmental bodies, political parties and Mass media representatives took part at 

the discussions.  

Three presentations were elucidated at the conference hall of Caspian Plaza. The deputy 

chairman of Economic Inititatives Assistance Public Unian Rovshan Agayev focused mainly on 

energy supplying system of Baku and regions, and the capacity and efficiecncy of investments 

allocated in this field. The chairman of ERC Management Board Gubad Ibadoglu delivered his 

presentation on investments allocated in transporation infrastrcutre based on state budget. The 

third presentation delivered by Azer Mehtiyev, the chairman of Economic Initiatives Assistance 

Public Union. He mainly concentrated on current problems existing in the field of gas, heat 

supplying system and other municipal service areas.  

After presentations, the head of administration apparatus of Musavat party Arif Hacili, expert on 

energy issues Ilham Shaban, coordinator of Municipal Alliance Amil Bayramov, lawyer Eldar 

Gocayev, director of gas Gas Supply Department of “ Azeriqaz” Production Union Vagif Namazov, 

deputy chief of “Azersu” Bahadir Kangarli and others took part at the discussion.  

 

 

 



 

 

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February-March 



 02-03/2010 

 

The seminar on “Economics of Financial Crisis” 



to be held in Baku 

 

The seminar in the topic of “Economics of Financial Crisis” will be organized under program and 



financial support of Friedrich Naumann Foundation ( FNF) of Germany, and with organizational 

support of New Economic School of Georgia and Economic Research Center ( ERC) in Baku on 

April 19. Professor Pascal Salin, Emeritus Professor of economics at Paris – Dauphine University 

is going to be the main lecturer at the seminar. Furthermore, the members of partner organizations 

of FNF and ERC, representatives of economic bloc of Azerbaijan government, independent 

experts, scientific-academic seniors, including leading NGO and Mass media delegation are 

among participant list of the seminar.  

Professor Pascal Salin, will deliver lecture on the topics of “Theory of monetary systems”, “Theory 

of tax systems”, “Theory of business cycles and last financial crisis”, “Growth, economic stability 

and capitalism” and “The economic principles unheeded by politicians”. 

 

 

 



 

 

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February-March 



 02-03/2010 

 

Meetings  



 

***** 

The chairman of Economic Research Center Gubad Ibadoglu met with Ambassador of 

Switzerland in Azerbaijan Alain Guidetti. The parties mainly focused on discussing the fulfillment 

circumstance of state budget incomes and expenses, oil incomes and its transparency issues, 

including the impacts of global financial crisis to economy, entrepreneurship field and households.  

  

 



***** 

The chairman of Economic Research Center Gubad Ibadoglu participated at the reception upon 

invitation by the head of the Delegation of European Commission to Azerbaijan, Ambassador 

Roland Kobia, in February 9. The Coordinator on Ukraine, Belarus, Moldova and South Caucasus 

of the European Commission Karin Gatt-Rutter, the Head of Operations and Neighborhood Policy 

Section of EU Delegation Jan-Louis Lavroff, Head of social, economic and press department, First 

secretary Jerome Pons, Political Officer, Delegation of European Commission to Azerbaijan 

Manfredas Limantas also participated at this meeting. The social-economic situations in 

Azerbaijan, the last circumstances in the region, including the perspectives in cooperation with 

European institutions were discussed during the meeting. 

 

 

***** 



 The chairman of Economic Research Center Gubad Ibadoglu held meeting at the Embassy of the 

Republic of Italy in Azerbaijan, in February 15. During the meeting, the standing point of 

commercial relations between Azerbaijan and Italy, its statistical characteristics, as well as 

investment collaboration issues between two countries were discussed.  

 

 

***** 



The chairman of Economic Research Center Gubad Ibadoglu met with deputy of Ambassador of 

Germany in Azerbaijan Peter Ziegler. The parties held discussions on the economic stance of 

Azerbaijan and the development spectrums of commercial ties and investment collaboration 

between two countries. Except this, the perspectives of Germany-Azerbaijan relations also being 

discussed at the meeting.  


 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

***** 

The chairman of Economic Research Center Gubad Ibadoglu held meeting at the Embassy of 

Turkey in Azerbaijan in February 17. First secretary Riza Kagan Yilmaz, chief trade advisor Gazi 

Bilgin, chief economic advisor Cahit Buyukturk also participated at the meeting. The current 

stance of commercial-economic relations and investment cooperation and as well as its 

development perspectives between the Republic of Turkey and the Republic of Azerbaijan were 

discussed during the meeting.  

 

***** 

 

The chairman of Economic Research Center Gubad Ibadoglu held meeting at the delegation of 



USAID in Azerbaijan in February 25. The chief Competitiveness Advisor of USAID Washington 

Office Neal Nathanson, chief advisor on financial market William Baldrige, and director of 

economic programs department of USAID Baku office Shiyla Yanq and also officer of the same 

department Aytan Khahramanova had participated at the meeting. The main topics of the 

discussion were entrepreneurship atmosphere in Azerbaijan, its emerging problems and 

perspectives.  

 

***** 

 

The chairman of Economic Research Center Gubad Ibadoglu held appointments with Advisor and 



Alternate Senior Personnel Manager at the IMF's Research Department on  Middle East and 

Central Asia Ratna Sahay, deputy of director Ninke Omec, and as well as economist Aiko 

Mineshima in March 01. During the meeting, state spending, transparency and accountability, and 

participation matters of parliament and public at the budget process.  

 

 

***** 



The chairman of Economic Research Center Gubad Ibadoglu met with head of the delegation of 

SECO in Azerbaijan Naila Safarova, and deputy director of regional office on South Caucasus 

Philip Keller in March 8. The parties held discussions around the impact of global financial crisis 

on to Azerbaijan’s economy, business and households as well as elucidation of economic and 

political priorities after recession. Advisor of the Ministry of Economic Development, Benedikt 

Brauhman also took part at the meeting.  

 


 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

***** 

 

The chairman of Economic Research Center Gubad Ibadoglu held meeting with Co-coordinator of 



Finland Permanent Delegation at OSCE Johanna Ketol in March 16. The parties exchanged views 

regarding challenges faced by National Budget Group members in granting accession to 

Azerbaijan’s budget information, as well as held discussions around the efficiency at state 

spending, and accountability issues.  

 

***** 

 

The chairman of Economic Research Center Gubad Ibadoglu met with coordinator of Friedrich 



Ebert Foundation (FEF) on South Caucasus Matthias Jobelus, and head of the Delegation of FEF 

in Azerbaijan Rashad Huseynli in March 17. The members of the Management Board of ERC 

Rasim Huseynov and Fuad Rasulov also participated at the meeting. The cooperation directions 

between ERC and FEF discussed at the meeting.  

 

***** 

The chairman of Economic Research Center Gubad Ibadoglu met with professors of Duke 

University Roy Kelly and Deo Dhakai in March 18. During the meeting, the assessment of 

investment projects, welfare economy and monetary policy, including other related directions 

discussed at the meeting.  

 

 



 

Economic Research Center is under the process of determining 

activity directions for a new stage 

 

Economic Research Center ( ERC)  has launched a series of deeds on defining action directions 



and improving strategic plan for next period. For this purpose, the chairman of ERC, G.Ibadoglu 

started meeting with foreign and international donor organizations and partners operating in 

Azerbaijan.  

The first series of meetings held with Shovkat Alizade, chief of representative Oxfam International 

agency in Azerbaijan, Mehriban Rahimli local representative of Marshal Fund, chief of 

representative Fridrix Ebert Fund Rashad Huseynli. The main topic of the discussion arranged 

priorities of donor organizations for next stage, collaboration facilities with ERC and perspectives.

 


 

 

www.erc-az.org

 

February-March 



 02-03/2010 

 

Business trips 

 

 

Post Soviet period was discussed in Tbilisi 



 

The chairman of Economic Research Center Gubad Ibadoglu paid visit to Tbilisi upon invitation of 

Friedrich Ebert Foundation in February 26-27. During his visit, Mr. Ibadoglu participated at 

international conference and regional seminar.  

The so called “Farewell USSR” conference was organized jointly with Georgian New Economic 

School and Free Thought University in March 26. Following with prominent senior experts in the 

field of politics, and economy from Azerbaijan, Georgia, and Armenia famous persons such 

as Vladimir Bukovsi, Valeria Novodvorskaya, Konstantin Borovoy, and Andrey Illarianov 

representing USA, Russia and Great Britain also took part at the conference. At the conference, 

G.Ibadoglu delivered speech on the topic of “The last situation and reforms at Azerbaijan’s 

economy”.  

G.Ibadoglu participated at the so called “ The stance of property rights in South Caucuses” 

seminar organized by New Economic School in March 27. 

 

 



 

 

 



 

 

 



 

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