Economy

On August 30, 2023, a Memorandum of Cooperation was signed between the national air carrier of Azerbaijan AZAL and YASHAT Foundation. The document was signed by Samir Rzayev, First Vice-president of AZAL CJSC, and Elvin Huseynov, Head of YASHAT Foundation, veteran of the Karabakh War. This cooperation document provides support …

Within the framework of cooperation between SOCAR and DeGolyer and MacNaughton, work has begun on counting 27 fields according to SPE-PRMS classification in the Azerbaijani sector of the Caspian Sea, Azernews reports. The State Oil Company of the Republic of Azerbaijan (SOCAR) reports that SOCAR President Rovshan Najaf met with John Wallace, …

The State Oil Company of Azerbaijan (SOCAR) and the Kazakh national company KazMunayGas continue to work on increasing oil supplies through the Caspian Sea, Azernews reports. “We are currently developing new routes across the Caspian Sea, in particular through the Baku-Tbilisi-Ceyhan (BTC) oil pipeline. Since March, we have started shipping Tengiz oil …

The export value of Georgian agro-food products in 2023 increased by 27.7 percent, compared to the same figure of the previous year, amounting to $787.5 million, the Ministry of Environmental Protection and Agriculture of Georgia said on Friday, Azernews reports, citing Agenda. In the seven months of this year, a …

The State Oil Company of the Republic of Azerbaijan (SOCAR) and Microsoft have signed a Memorandum of Understanding, Azernews reports. The memorandum envisages cooperation in digitalization, innovation, enhancing IT infrastructure, developing human capital, including exploration, production, processing, and marketing, transportation, and cyber security. As a result of SOCAR’s proactive initiative and effective …

Minister of Digital Development and Transport of Azerbaijan Rashad Nabiyev and Chairman of the Board of Directors of Italian company Leonardo Stefano Pontecorvo discussed possibilities of cooperation, Azernews reports, citing Ministry. Minister Rashad Nabiyev wrote about it on social networks, The minister said in the publication that the sides discussed potential opportunities for cooperation …

It is reported that AERA chairman Samir Akhundov received the chairman of Caspian Hydrogendevelopment Group LLC, Teymur Abbasov, manager of the new project development department of Toyota Tsusho Co, Fumihiko Sato and deputy manager of Eurus Energy, Tomataka Watanabe, Azernews reports, citing AERA. According to the information, after the parties provided information …

During his visit to Bucharest, the Minister of Energy, Parviz Shahbazov, and the Minister of Energy of Romania, Sebastian Ioan Burduja, held a meeting, Azernews reports, citing the ministry. The meeting emphasized the importance of the mutual visits of the Presidents of Azerbaijan and Romania for cooperation between the two countries and …

The fifth meeting of the intergovernmental commission between Kyrgyzstan and Azerbaijan was held in Bishkek, Azernews reports. During the meeting, representatives of the two countries discussed prospects for cooperation in various areas such as construction, education, communications, defence, production and transport. It should be noted that a meeting of business delegations of …

Azerbaijan and Uzbekistan intend to increase trade turnover by 5.5 times and reach $1bn in the near future. On this, Azerbaijani and Uzbek delegations agreed the 12th meeting of the Azerbaijan-Uzbekistan Joint Intergovernmental Commission which kicked off in the city of Shusha. Uzbek Ministry of Investment, Industry, and Trade noted …