How will plummeting Turkish and Russian currencies affect Azerbaijan’s economy?
The fall of the Turkish lira, which has been continuing for more than two years, intensified again in June, despite recent attempts to raise the discount rate. In the first half of 2023, there was also...
View ArticleAzerbaijan to house a new aluminium beverage can plant worth $211 million
The news came after the Minister of Economy of Azerbaijan Mikayil Jabbarov tweeted about the agreement signed between Azerbaijan Investment Company JSC and Hell Energy Company of Hungary in the...
View ArticleAzerbaijan establishes Working Group for inflation monitoring
According to the order, in order to ensure that inflation in the country is reduced to an acceptable level for economic growth, to further improve the analysis and monitoring system that allows for...
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Barzani, Aliyev discuss promoting Azerbaijani investments in Kurdistan Region
Kurdistan Region Nechirvan Barzani and Ilham Aliyev on Tuesday discussed promoting Azerbaijani investments in Iraq’s Kurdish region, the presidency spokesperson said. Barzani on Tuesday arrived in the...
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Kazakhstan-Azerbaijan economic cooperation moves to new level
During the meeting, Alim Bayel noted that the mutual visits of the heads of state in 2022 and 2023 marked a new stage in the bilateral cooperation. The diplomat emphasized fruitfulness of the official...
View ArticleAzerbaijan’s positive balance on foreign trade declines by 24%
Over the year, exports decreased by 7.2% to $24.355 billion, while imports grew by 25.7% to $11.151 billion. Consequently, a positive balance of $13.204 billion, 24% less than a year ago, was formed in...
View ArticleAzerbaijan may introduce new state duties in navigation
According to Report, this is Journal of continuous registration of the history of the vessel and the Certificate of compliance of the activities of training centers operating in the field of maritime...
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Economy in focus: Azerbaijan
A transit hub since Silk Road times, Azerbaijan’s strategic location on the Caspian Sea between Russia, Iran, Armenia, and Georgia rewarded it with easy trade access to China, Central Asia, and Europe...
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Grain harvest in Azerbaijan exceeds 3 million tons
This figure is 1.7% higher than in January-September 2022. The production of sunflower seeds in the specified period remained at the last year’s level and is estimated at 26.6 thsd tonnes, while the...
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Anglo Asian to restart operations after agreement with Azerbaijan government
As a result of agreeing to the plan, the miner is now free to restart all its operations, adding none of the measures will involve significant expenditure. The restart will be carried out in stages and...
View ArticlePresident: Over the Last 20 Years, More Than $310 Billion Invested in...
This is the result of the favorable investment climate in our country. This statement was made by the President of Azerbaijan, Ilham Aliyev, while speaking at the 16th Summit of the Economic...
View ArticleAzerbaijan increases non-oil exports by 11%
In January-November of this year, Azerbaijan exported non-oil products worth $3,033,680,000 (+10.5%), Report informs, citing the Export and Investment Promotion Agency (AZPROMO). In November alone, the...
View ArticleThe import of wheat into Azerbaijan has been exempted from VAT for another...
According to Report, this is reflected in an amendment to the Tax Code. The duration of the tax exemption has been extended until January 1, 2027. It’s worth noting that the import and sale of wheat,...
View ArticleAzerbaijan’s economy up 1%
Over the past year, added value in the oil and gas sector of the economy decreased by 1.7%, and in the non-oil and gas sector increased by 3.7%, Report informs, citing the country’s State Statistics...
View ArticleAzerbaijan sets ambitious goal for non-oil exports, targeting $5 billion by 2026
This plan represents a significant leap, aiming for an 85 percent increase compared to the figures of 2021. Tural Hajili, Deputy Executive Director at the Azerbaijan Export and Investment Promotion...
View ArticleAzerbaijan’s State Service for Property Issues announces plans to sell state...
This includes structures of SOCAR, AzerGold CJSC, ASCO, BakTelecom, AzTelekom, and ABB bank, as reported by Trend on Tuesday. “Last year, the President of Azerbaijan issued a decree to attract private...
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EBRD lends US$ 42 million to Azerbaijani shipping company
The European Bank for Reconstruction and Development (EBRD) is contributing to the diversification of transport connections between Asia and Europe by providing a US$ 42 million (€38.71 million) loan...
View ArticleIMF economist Robin Brooks says Armenia helps Russia bypass sanctions
Robin Brooks, the Chief Economist at the Institute of International Finance (IIF), former Chief Currency Strategist at Goldman Sachs, and former Senior Economist at the International Monetary Fund...
View ArticleAzerbaijan’s economy saw a 5% expansion in 2023
The Azerbaijan State Statistical Committee reports that while the oil and gas sector experienced a decrease in added value by 2.6 percent, there was a significant 12.3 percent rise in the non-oil and...
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Industrial zones of Azerbaijan – Catalyst for regional innovations
Today, Azerbaijan stands as one of the guarantors of Europe’s energy security and holds a pivotal position on the transportation map of Eurasia. In recent years, Azerbaijan has embarked on active...
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