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TBY talks to Elshad Abbasov, General Director of Embawood, on the company's presence, major events coming to the country, and plans for 2016.
BIOGRAPHY
Elshad Abbasov studied Geology and specialized in Geochemistry at Moscow State University. He has been the Vice President of the Equestrian Federation since 2009, and the Chairman of the State Attestation Commission for Timber Processing under the Azerbaijan State University of Architecture and Civil Engineering since 2010. He is the General Director of Embawood, a role that he has held since 1996.Currently, Embawood has a presence in 10 countries. What criteria do you focus on to gain footing in foreign markets and are you considering expanding your scope of activity in the future?
Yes, we have ambitious targets. We have recently introduced the SalesForce program as a special Customer Relationship Management (CRM) system to better know our customers, their wishes, and their needs. We have found solutions through our 2020 program to improve the quality of our production by reducing the net value of the product. The key criteria that we look for to enhance our presence in foreign markets includes customer-orientation, mutually beneficial cooperation with our partners, and the opportunity to gain a vital foothold in the economy of every country in which we operate
As Embawood is a company already involved in sport in Azerbaijan through sponsoring the First FIP Arena Polo European Championship, what are your expectations for the Formula One Grand Prix event coming to Baku this summer?
Azerbaijan already has a wealth of experience in the organization of prestigious international sport events and I hope the Formula One event will be held at a high level this year as well. Apart from the contribution to the improvement of international cooperation in sports, this event has economic and social benefits for Azerbaijan, as well as a positive impact on the development of the domestic tourism sector. I must also note that multiculturalism has already become a way of life in our country and the year 2016 has even been declared "the Year of Multiculturalism" in Azerbaijan. The high-level organization of such events makes major contributions to the tolerant traditions and intercultural values of our country.
Embawood concluded a memorandum of cooperation in the field of employment with the Azerbaijan University of Architecture and Construction (AUAC). What is the value added of this memorandum to your company?
Following the conclusion of the Memorandum, students from AUAC will be able to gain practical knowledge and the teaching staff will get an opportunity to closely familiarize themselves with the production process. A plan is in place to conduct joint scientific research works and realize student-teacher exchanges within the framework of this memorandum. Issues such as cooperation opportunities and the development of joint education programs have been discussed and negotiations were held regarding joint staff preparation and the development of scientific research projects, which will assist in the development of future professionals in Azerbaijan.
As an Azerbaijani company, what importance do the parliamentary elections of 2015 hold for your business and the country at large?
Elections are key indicators of a modern democratic society. This key tool safeguards society from the threat of injustice and dictatorships. The transparent election process works to reflect the will of the Azerbaijani people. It is also a sign of stability and positively influences the dynamic development of entrepreneurship and society.
What are your company's prospective targets for 2016, given that this year marks the 20th anniversary of Embawood?
Considering the current macroeconomic factors at play in the markets where Embawood is present, we have set a target to assess the maximum export potential level for our products in 2016, our 20th Anniversary. We believe our market classification policy will be successful in this regard. The export activities of our company will enhance our goals and improve the national export market. By getting closer to consumers in the countries where we are present, we will further promote our goal of building a positive image of our Azerbaijani brand and product. As a company, we will continue to stand close to our consumers and meet their wishes and needs at the highest level in 2016.
BUILD IT
TABLE OF CONTENTS
Year In Review
Good Times Ahead
<strong></strong><strong>In a year dominated by the overarching theme of low hydrocarbons prices, Azerbaijan showed resilience and verve in putting in place bold measures both to counter the slump in energy prices and put its economy on a surer footing.</strong>
read articleReview: Diplomacy
Operation Outreach
In 2015, Azerbaijan's military budget increased by a notable 27%, to $4.8 billion, or 17.9% of the government's total budget for the year. The first Azerbaijan Defence Exhibition (ADEX 2014), drew over 200 companies from 34 countries, including Russia and the US.
read articleInterview
Rufat Mammadov, President, Azerbaijan Export and Investment Promotion Foundation (AZPROMO)
TBY talks to Rufat Mammadov, President of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), on large-scale events and their ability to attract FDI and the potential Iran may hold.
read articleReview: Banking
More Interest
In a sector faced with relatively flat growth for 2015-16, new opportunities are still there aplenty, led by the nascent Islamic banking sector, e-banking, and microfinance initiatives. Together, these areas should make banking more diversified and less reliant on a buoyant energy sector for its capital inlay.
read articleReview: Capital Markets
Taking Stock
As Azerbaijan grapples with the knock-on effects of low hydrocarbon prices, the Baku Stock Exchange (BSE) finds itself at the center of the country's efforts to stave off a budget deficit this year. In January, the government announced plans to sell $500 million worth of bonds on the BSE.
read articleInterview
Khanlar Fatiyev, , Chairman of the Supervisory Board, Ganja Automobile Plant Production Association
TBY talks to Khanlar Fatiyev, Chairman of the Supervisory Board of the Ganja Automobile Plant Production Association, on the role of the plant in driving growth in the non-oil sector.
read articleReview: Agriculture
Lots More
Farms across the country are pursuing a policy of increased yields for year-round fruit and in the wheat harvest to stave off an over-reliance on imports. With carefully targeted increases in exports, better routes to port and to market, and greater sophistication of agricultural facilities, farming could soon be the morning star of Azerbaijan's diversified economy.
read articleReview: Education
Baku to School
Azerbaijan's culture has always harbored a deep respect for educational values. This is embodied in the country's Azerbaijan 2020 mission statement, which seeks to raise standards across the sector and introduce ICT as a standard part of the learning experience at all levels.
read articleInterview
Elkhan Mammadov,, Secretary General, Association of Football Federations of Azerbaijan (AFFA)
TBY talks to Elkhan Mammadov, Secretary General of the Association of Football Federations of Azerbaijan (AFFA), on the experience Azerbaijan is gaining in hosting international events.
read article
