Economy

GL, Azerbaijan’s first private energy company, through its subsidiary GL Technical Services (GLTS), has signed a Memorandum of Understanding (MoU) with one of the world’s leading industrial services providers, Baker Hughes, Azernews reports. This enables GLTS to gain access to advanced technology and enhance the competence of its people to world-class industry …

Trade turnover between Azerbaijan and Georgia totaled $1371.4 mln in January-November this year, the National Statistical Office of Georgia has reported, Azernews reports. It is reported that during the reporting period, goods and products worth $583.61 mln were exported from Azerbaijan to Georgia. This is $12.60 mln or 2.2 percent more than …

The division of the German Siemens company in Austria sent the equipment for the reconstructed 28 May substation of Baku Metropolitan CJSC to our country. Azernews informs with reference to the joint stock company. According to information, a group consisting of the company’s management and technical specialists visited the Baku metro …

The regular board meeting was held under the chairmanship of Azerbaijan Energy Minister Parviz Shahbazov, with the participation of board members, representatives of structural units of the ministry, and subordinate institutions, Azernews reports. The Ministry informed that the chairman made a speech and said that important measures for the future development of …

The UN Climate Change Conference is today the highest negotiating body for implementing the provisions of the UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol (KP) and the Paris Agreement (PA). These events started in 1995 and were initially small working sessions. Over time, they have become one …

On December 15, the State Oil Company of Azerbaijan (SOCAR) and BP Azerbaijan announced a joint initiative to reduce methane emissions in Azerbaijan. The collaboration is part of the Advancing Global Methane Reduction (AGMR) initiative, which is part of the Methane Guiding Principles (MGP), Azernews reports. The initiative focuses on instigating methane …

The European Bank for Reconstruction and Development (EBRD) is ready to support Azerbaijan in organizing COP29, Azernews reports, citing EBRD’s First Vice President Jürgen Rigterink telling at the meeting with Azerbaijan’s Economy Minister Mikayil Jabbarov in the United Kingdom. The minister expressed his gratitude to the EBRD for its longstanding and continuous …

Due to the sanctions, there is a shortage of chicken eggs in the Russian market. In order to overcome this and stabilize the market prices of eggs, Russia intends to import eggs from abroad. Azerbaijan is among the countries whence eggs will be imported. The export of eggs to Russia …

As a result of meetings held by the Food Safety Agency of Azerbaijan (AFSA) with the Ministry of Agriculture and Rural Affairs of China, authorization was obtained to export poultry meat and other poultry products to that region, Azernews reports. Within the framework of the Agency’s cooperation with the relevant agency of …

On December 11, 2023, the President of the State Oil Company of the Azerbaijan Republic (SOCAR) Rovshan Najaf met with the delegation of Mizuho Financial Group, one of the largest bank holdings in Japan, Azernews reports. At the meeting, satisfaction was expressed with the long-term effective activities of Japanese companies in Azerbaijan, …