An event dedicated to the "Business Meeting of the Turkish-Azerbaijani Trade Delegation" was held today in Baku under the joint organization of the Ministry of Trade of Turkey and the Turkish Exporters' Assembly. Ambassador Extraordinary and Plenipotentiary of Turkey to Azerbaijan Cahit Bagci, Deputy Chairman of the Management Board of KOBIA Hikmet Mammadov, as well as local and foreign business subjects also participated in the event, which was invited by the Association of Azerbaijan Insurers.
"Agribusiness Development Forum" is being held today in Guba under the organization of the Agrarian Credit and Development Agency under the Ministry of Agriculture. The purpose of the Forum, which was invited by the Association of Azerbaijan Insurers, is to create a favorable investment environment for the sustainable development of agribusiness, and to implement sustainable activities that balance trade development and social responsibility, as well as increase the employment of young people and women. At the forum, Minister of Agriculture Majnun Mammadov, Deputy Secretary General of the Organization of Turkic States Omer Kocaman, Chairman of the Agrarian Policy Committee of the Milli Majlis Tahir Rzayev, Chairman of the Small and Medium Business Development Agency Orkhan Mammadov, Deputy Chairman of the Central Bank of Azerbaijan Aliyar Mammadyarov, President of the Confederation of Entrepreneurs of Azerbaijan Mammad Musayev, Head of Guba District Executive Authority Ilgar Mahmudov and Deputy Regional Representative of FAO Nabil Gangi made an opening speech.
Azerbaijan and Turkmenistan will establish relations in the field of insurance for the first time Elmar Mirsalayev, executive director of the Association of Azerbaijan Insurers (ASA), met with the Ambassador Extraordinary and Plenipotentiary of the Republic of Turkmenistan to Azerbaijan, Gurbanmammed Elyasov. At the meeting, mutual relations between the states of Azerbaijan and Turkmenistan in various fields were touched upon, and mutual relations in the field of insurance between the two countries will be established for the first time. Executive director of ASA Elmar Mirsalayev informed the ambassador about the work done in the insurance field, achievements and international relations of the sector. The executive director also spoke about the Turkish World Insurance Union, which was established by the initiative of ASA and the membership of the insurance associations of 5 Turkish republics, and which will soon come under the auspices of the Organization of Turkic States. Gurbanmammed Elyasov, Ambassador Extraordinary and Plenipotentiary of the Republic of Turkmenistan to our country, touched on the importance of insurance services and highly appreciated the work done in this direction, including the activities of the Turkish World Insurance Union. At the meeting, an agreement was reached on the establishment of relations between the Association of Azerbaijan Insurers and the insurance sector of Turkmenistan.
Azerbaijan Insurers Association continues its series of meetings in order to form relations between the insurance sector and the parliament. For this purpose, the next meeting was held with MP Azer Badamov, a member of the Agrarian Policy, Public Unions and Religious Institutions Committees of the Milli Majlis. At the meeting, the Executive Director of the Association of Azerbaijan Insurers, Elmar Mirsalayev, informed about the activities of ASA, including the reforms carried out in the insurance sector and the achieved achievements. Touching on the international relations of the local insurance market, the Executive Director also spoke about the initiative of ASA and the Turkish World Insurance Association established with the membership of 5 Turkish states. Azer Badamov, a member of the Agrarian Policy, Public Unions and Religious Institutions Committees of the Milli Majlis, MP Azer Badamov, in his speech, highly appreciated the work done in the insurance sector, the implemented reforms and the achieved results. The MP also emphasized the importance of continuing measures to increase confidence in insurance in the next stage. Deputy Azer Badamov proposed to hold a "General discussion" format event between the members of the economy-oriented committees of the Milli Majlis and the insurance market participants in order to develop the dialogue between the insurance sector and the parliament and, as a result, to stimulate the development of the sector. At the end of the meeting, it was reported that the cooperation between the parties will be continued at the next stage.
A seminar on "Corporate management standards in insurers" was held for managers of insurance companies under the joint organization of the Central Bank of the Republic of Azerbaijan, Association of Azerbaijan Insurers and ASA Training Center. According to information provided by ASA, the seminar was moderated by Ziya Aliyev, Director General of the Central Bank of Azerbaijan. The essence of corporate governance standards and its importance in terms of strengthening and developing the sector's financial stability were discussed at the seminar. The role and duties of the board of directors in insurance companies, the risk management system in insurers, the lines of defense for risk management, as well as the functions of the structures that make up it, relevant management processes and other such topical issues were the main topics of discussion at the seminar. In the framework of the discussions, insurance companies also shared their experience with each other.
A meeting was held with Hikmat Mammadov, a member of the Parliament of the Azerbaijan Association of Insurers and a member of the Azerbaijani delegation at the Parliamentary Assembly of Turkic-Speaking Countries. At the meeting, the Executive Director of the Association of Azerbaijan Insurers, Elmar Mirsalayev, informed about the activities of ASA, as well as the reforms carried out in the insurance sector and the successes achieved. Touching on the international relations of the local insurance market, the Executive Director also spoke about the initiative of ASA and the Turkish World Insurance Association established with the membership of 5 Turkish states. He noted that the Turkish World Insurance Union, which plays the role of the insurance hub of the Turkic world, will soon come under the auspices of the Organization of Turkic States, and the first Assembly of the Union is planned to be held in the city of Shusha in Azerbaijan. Hikmat Mammadov, a member of the parliament and a member of the Azerbaijani delegation at TürkPA, in turn, highly appreciated the work done within the framework of ASA and within the sector. The deputy said that the establishment of the Turkish World Insurance Union is an important event for the joint sustainable development of the Turkish states. The MP also emphasized: "The main topic of discussion at the Diplomatic Forum to be held tomorrow in Antalya, Turkey is the organization of institutionalization in the countries of the Turkic world, and it is gratifying that the Turkic World Insurance Union, which was established 2 years ago at the initiative of the Azerbaijani side, is a successful example for the beginning of this process." The member of the Milli Majlis called the insurance market the welfare market of Azerbaijan in the current situation against the background of the achieved successes and wished the Association success in its future activities.
A delegation consisting of representatives of Azerbaijan Insurers Association, Compulsory Insurance Bureau and a group of insurance companies visited Munich, Germany. The delegation participated in the "XIII Annual Summit on Regulation of Insurance Events" to which it was invited as part of the visit. At the summit this year, the role of external companies (outsourcing), artificial intelligence and electronicization, as well as open insurance, the effects of climate change on the insurance sector, etc. such current trends were the main topic of discussion. The Summit, attended by insurers from more than 20 countries of the world, was organized by Uniglobal, a knowledge exchange institute for financial market participants.