Azerbaijan, Baku, 30 May / corr Trend I.Khalilova / Moldova's dependence on import of energy resources necessitates its participation in projects, realized within GUAM, Dumitru Ursu, the President of Association of Moldova's Banks, stated in Baku. It is concerned about the projects on construction of the transport main via Azerbaijan - Georgia - Ukraine - Europe and the transport corridor around the Black Sea, which is to run via the territory of Moldova.
"We attach great importance to the prices at which the energy resources are imported at current growth rate of oil prices and natural gas, and therefore the interaction within GUAM is of considerable importance for us," Ursu said. Within the frames of GUAM, the coordination of political solution is quite different. Therefore, it will be very profitable for all countries. [At present Moldova imports 85% of energy and 95% of energy resources].
The banking sector takes an important role during the movement of capital and goods. Some 72% of aggregate capital belongs to the foreign capital (French bank Societe Generale and Italian bank Vineta Group) in Moldova
"We find our presence in Azerbaijan and other GUAM countries through these global banking systems, whilst we do not have direct offices and branches of Moldova banks," Ursu said. We are interested to be here, like the Azerbaijani banks which are eager to be in Moldova. The Azerbaijani banks possess enough free capital, which can be directed towards the economy of Moldova for its further development.
He said that such interest is also demonstrated by Azerbaijani banks, because Moldova is bordering with the European Union (after Romania's entrance to the EU in November 2007).
Meanwhile, he regarded drop in US dollar and consolidation of euro as one of the problematic issues of the financial system. Therefore, the countries should attentively control to save banks from suffering while investing. However, he considers the direct quotation of the national currency enabling to easy trade operations between the countries as impossible, because the economic agents themselves define the currency the deal is carried out with.
"Though the Moldova currency is freely converted at current operations since 1995, it does not mean of its wide spread abroad," Ursu said. Moreover, the economic agents themselves select the currency they intend to work with. The national currencies can work between the correspondent banks on the basis of bilateral banking agreements.
At present, 16 banks function in Moldova and 46 banks in Azerbaijan.
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