Tag Archives: economy

Apart from being a traditional sector, investing in agriculture looks beneficial and it is considered the most important field of business in the diversification of Azerbaijan’s economy. Azerbaijan has been famous for its agricultural products throughout history. During the USSR, the country was dubbed the garden (orchard) of the Soviets. …

Turkish Transport and Infrastructure Minister Abdulkadir Uraloğlu attended the 7th Transport Ministers Meeting of the Organisation of Turkish States (OTS) held in Zangilan, Azerbaijan. Uraloğlu gave a speech and noted that OTS countries are a community that has the potential to become a global power with a young and dynamic …

Prospects for expanding mutual cooperation in the energy sector between the State Oil Company of Azerbaijan (SOCAR) and the Bolivarian Republic of Venezuela have been discussed, Azernews reports. With reference to SOCAR, this became known during the meeting of SOCAR President Rovshan Najaf with Ambassador Extraordinary and Plenipotentiary of Venezuela to Azerbaijan, …

The projects carried out in the field of “green energy” provide an opportunity to expand the potential of electricity production and export, and open wide prospects for the transportation of electricity from Central Asian countries to Europe through Azerbaijan. This was announced at a tripartite meeting held in Baku with …

Tet International Development LLC with Japanese capital and shareholder Taro Sawada cultivates tobacco on an area of about 1,200 hectares in Azerbaijan, Azernews reports citing the Director of the company Namig Asgarov telling in an interview with the local media outlets. Regarding future projects and prospects, Namig Asgarov said that Tet International …

Chisinau is interested in attracting Azerbaijani investors and diversifying gas supply sources with the help of Baku, Deputy Prime Minister and Foreign Minister of Moldova Nicu Popescu said, Azernews reports. Nicu Popescu held a meeting with Azerbaijani Deputy Foreign Minister Khalaf Khalafov. “I stressed Moldova’s interest in attracting as many …

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf has met with Federal Minister for the Board of Investment of Pakistan Chaudhry Salik Hussain and Minister of State for Petroleum Musadik Masood Malik. During the meeting, the sides hailed the mutual friendly and brotherly relations, …

“ACG continued to safely and reliably deliver stable production during the last year. Total ACG production for the full year was on average about 415,400 barrels per day (b/d) (about 152 million barrels or 20 million tonnes in total) from the Chirag (25,200 b/d), Central Azeri (104,100 b/d), West Azeri …

Tax incentives have been introduced to entrepreneurs engaged in agriculture and agro-processing sectors, Azernews reports, referring to the State Tax Service (STS) under the Ministry of Economy of Azerbaijan. The aim of tax incentives is to replace imported products, optimize cost and reduce prices. “As it is known, against the …

Switzerland is interested in the development of cooperation with Azerbaijan through the Middle corridor, Head of Bilateral Economic Relations Division of the Swiss State Secretariat for Economic Affairs (SECO) Erwin Bollinger told Trend. “There is a lot of potentials. This corridor will shorten the way of supplies from East to West,” …