Business

Local honey and bee products play a special role in increasing the share of Azerbaijan’s non-oil exports in the country’s foreign trade. In 2018, as many as 4,993.9 tons of honey, 98.6 tons of beeswax, 9.9 tons of propolis, 7.7 tons of pollen and 400.8 kilograms of bee milk were …

The Baku-Tbilisi-Kars (BTK) railway is an important transport corridor connecting Europe with the countries of the region and serving the development of regional cooperation, Director-General for Mobility and Transport (MOVE) of the European Commission Henrik Hololei said at a briefing Feb. 19, Trend reports. He said the full launch of …

Azerbaijan’s GDP in January 2019 amounted to almost 5.9 billion manats, which is 2.9 percent more than in January 2018, Trend reports referring to the State Statistics Committee. GDP per capita was 601.1 manats. The volume of GDP produced in the non-oil sector of Azerbaijan increased by 2.7 percent over …

Over 100 companies have joined the Green Corridor system in Azerbaijan since February 1, 2019, Safar Mehdiyev, chairman of the Azerbaijani State Customs Committee, said, Trend reports. Mehdiyev made the remarks at the “Taxes, Transparency and Development” forum in Baku on Feb. 18. “All export companies and about 40 percent …

One of the main tasks is to increase transport safety in Azerbaijan, chairman of the Azerbaijan Railways CJSC Javid Gurbanov said. Gurbanov made the remarks at a meeting with a delegation led by chairman of the Austrian Federal Railways JSC (OBB) Andreas Matte, Trend reports. He spoke about the work …

Azerbaijan has a great potential to fully transfer to digital payments, said Majeed Hujair, the senior director of Visa School of Public Policy. “Mobile usage in Azerbaijan is very high. The government and the banking sector need to think cleverly how to expand payments through mobile,” Hujair said. He stressed …

An Azerbaijani wine-making company Aspi Agro LLC, operating in the country’s Gabala district, plans to expand its export geography, the company told Trend. The company plans to export its products to neighboring Turkey. “We plan to export “Savalan” wines to the new market. This brand is very popular in Azerbaijan, …

Market value of SOCAR Turkey Energy, a subsidiary of the State Oil Company of Azerbaijan (SOCAR) in Turkey, has reached $11 billion said SOCAR Turkey Energy CEO Zaur Gahramanov, Turkish media reported. Goldman Sachs bought 13 percent share in SOCAR Turkey Energy for $1.3 billion in August 2015. “Today, the …

The European Bank for Reconstruction and Development (EBRD) is ready to consider the possibility of further allocating manat loans to Azerbaijani companies, Head of EBRD Baku office Ivana Duarte told Trend. “The development of local capital markets and local currency lending is among our top priorities in Azerbaijan. Companies, which …

This year Azerbaijan has again become the general sponsor of the Prodexpo-2019 exhibition, which will present the national stand Made in Azerbaijan. Azerbaijan will present a wide range of national products at the 26th international exhibition of food products, beverages and raw materials for their production ProdExpo-2019, the trade representation of …