A Memorandum of Understanding (MoU) has been signed between the Capital Markets Board of Turkey (CMB) and the State Committee for Securities of the Republic of Azerbaijan.

The MoU which aims to foster the cooperation and exchange of information between the authorities of the aforementioned two countries has been signed by Chairman Prof. Dr. A. Vedat AKGİRAYon behalf of the CMB and Chairman Mr. Rıfat ASLANLI on behalf of the State Committee for Securities of the Republic of Azerbaijan.

Additionally, Mr. Mehman Abbas, the Director of  the State Committee for Securities of the Republic of Azerbaijan, Mr. Khayal Abdinov, the Chairman of the Baku Stock Exchange and Mr. Bahtiyar Azizov, the Chairman of the National Custody Center of Azerbaijan were present at the signing ceremony which was held in Ankara at CMB headquarters.

In his speech at the signing ceremony, CMB Chairman Prof. Dr. Vedat AKGİRAY stated that CMB attaches importance to international relations and increases its efforts of cooperation between other countries. Besides, he stated that the MoU signed with Azerbaijan is the 26th one made for this purpose and the collaboration with the neighbor countries will continue in an increasing trend.

Mr. AKGİRAY also drew attention to their activities within the framework of the International Organization of Securities Commissions (IOSCO) and emphasized that CMB will host the IOSCO Emerging Markets Committee Meeting and Conference which will be held in Istanbul in October 2010.

Moreover, Mr. AKGİRAY stated that while European countries are dealing with the financial crisis in these days, in 2010 totally a number of 13 International Public Offerings have been made in Turkey.