The newly-established council of trustees, a senior management body of the Azerbaijan Exports and Investments Promotion Fund (EIPF), met in Baku on Tuesday. The entity was set up to expand the tasks of the Investments Promotion and Advisory Foundation.

The trustees council chairman, Economic Development Minister Farhad Aliyev positively assessed the work done to promote Azerbaijan’s investment opportunities. The Fund’s role in promoting domestic production in the country has further increased, he said.

The EIPF president Emil Majidov spoke of the Fund’s future activities. An official overseeing a project on assisting EIPF, which has started within the European Union TACIS program, said that the Euro 1 million project will be implemented until late 2006. The funds will be spent on the purchase of new equipment, as well as training sessions and seminars for the Fund employees.

The EIPF duties include researching avenues for regional trade, presenting proposals to the government relating to exports, and holding trade exhibitions and other events in and outside the country to promote Azerbaijani trademark.