Economy

The value of exports from Azerbaijan to the UK totaled $227.5 million from January through July 2021, having soared 23 times compared to the same period of 2020, Trend reports citing the statistical bulletin of the State Customs Committee (SCC) of Azerbaijan. According to the SCC, the share of the UK in …

Tourists will be able to visit Karabakh, which has historical, natural, and cultural resources, in the near future, Florian Sengtschmid, Executive Director of the Azerbaijan Tourism Bureau, said, speaking at the session on ‘Restoration of Southeast, West and South Asia as tourist destinations’ topic of the PATA Travel Mart 2021 …

The development of transport communications of Uzbekistan will open up additional entrances to the markets of Iran and Azerbaijan, Russian political scientist, a researcher at the Institute of Economics of the Russian Academy of Sciences Alexander Karavaev told Trend. According to the expert, it is necessary to take into account that …

The President of Azerbaijan Airlines (AZAL), Jahangir Asgarov and Ambassador of Israel to Azerbaijan George Deek have discussed the cooperation in civil aviation between Azerbaijan and Israel in Baku, local media reported on August 25. Asgarov said that AZAL will resume the flights between the two countries after the opening …

The new solution enables Azerbaijan Airlines (AZAL) to assess and maximize revenue opportunities across its entire route network. According to Azerbaijan Airlines (AZAL), despite the recent volatility in the market due to the global pandemic, the company continues to deliver on its strategic technology partnership with Amadeus that began in …

The European Commission is certain that a meaningful agreement on trade can play a significant role in increasing economic ties with Azerbaijan and in boosting the country’ efforts to diversify its economy and attract more foreign investment in non-energy sectors, an EU official told Trend. In addition, Azerbaijan’s ongoing efforts to …

Energy Efficiency Fund will be created in Azerbaijan in order to stimulate and promote measures for the rational use of electricity and energy efficiency, the law ‘On rational use of energy resources and energy efficiency’, approved by President Ilham Aliyev, Trend reports on August 20. According to the law, the fund will …

Italy was Azerbaijan’s largest trade partner during the period of January-July 2021, with the trade turnover between the two countries amounting to $4.6 billion, the State Customs Committee has reported. Of the total turnover, the export of Azerbaijani products to Italy amounted to $4.3 billion, while import from Italy was …

The U.S. Energy Information Administration has increased its forecast for Azerbaijan’s average daily oil production for 2022. In its report released in August, the agency increased its forecast for the country’s daily oil production for 2022 by 20,000 barrels to 780,000 barrels. It should be noted that according to the report published …

Some 124 companies with Azerbaijani capital were registered in Turkey from January through June 2021, which is by 73 companies less compared to the same period of 2020, the Turkish Union of Chambers and Commodity Exchanges (TOBB) told Trend. The total capital of Azerbaijani companies registered in Turkey from January through …