In light of integration of the Azerbaijani economy to the global economy, effective management of capital markets in accordance with modern requirements, application of international standards, as well as the establishment of international relations with leading stock exchanges and financial institutions is of great importance for the Baku Stock Exchange.
International relations of the Baku Stock Exchange and mutual cooperation frameworks have two directions:
1) Establishing and developing mutual relations with leading stock exchanges of other countries;
2) Maintaining and developing cooperation with relevant international and regional organizations.
Istanbul Stock Exchange – Friendly relations between the Republic of Turkey and the Republic of Azerbaijan are reflected in the economic and financial relations between the two countries. In fact, Istanbul Stock Exchange was one of the founders of the Baku Stock Exchange by taking part in the BSE’s capital stock authorization and became the 19th shareholder of the stock exchange since June 2000.
Istanbul Stock Exchange is closely cooperating with BSE in the field of capital market development in Azerbaijan, exchange of experience in IT, trading systems, and professional training. High-level delegations and expert groups from Istanbul Stock Exchange (known as Stock Exchange Istanbul since 30 December 2012, Istanbul Stock Exchange – ISE) have regularly visited Azerbaijan during the years of close cooperation. Additionally, training sessions for employees of the Baku Stock Exchange have been organized in the Istanbul Stock Exchange.
The Istanbul Stock Exchange is regularly represented at the General Meeting and the Supervisory Board meetings. Mr. Murat Mazibash, head of the Istanbul Stock Exchange Business Development and Research Department, has been responsible for maintaining the relations between ISE and BSE.
The Baku Stock Exchange also signed the “Protocol of Intent” on cooperation with the Thessaloniki Stock Exchange on December 16, 2003.
Moreover, the “Memorandum of Cooperation” was also signed between the Baku Stock Exchange and the Warsaw Stock Exchange on 15 May 2007.