Economy

Russia’s Penoplex Group has opened a plant in Azerbaijan’s Hajikabul district to manufacture thermal insulation panels, Azernews reports, citing Interfax. The company invested AZN18.4 million (about $10.8 million) in the Penoplex Prikavkazye plant, which was built on 6.7 hectares in the Hajikabul industrial quarter, Azerbaijan’s Economic Zones Development Agency reported. The plant …

Steps to be implemented within the Georgia Resilient Agriculture, Irrigation and Land Project were discussed in a meeting between the Georgian Agriculture Minister Otar Shamuagia and Rolande Pryce, the Regional Director of the World Bank in the South Caucasus, in Tbilisi on Monday, the Ministry said, Azernews reports, citing Agenda. Supported by …

SOCAR’s stand has been highly appreciated at the XXVIII International Conference and Exhibition “Oil and Gas of Turkmenistan-2023,” Ambassador of Azerbaijan to Turkmenistan Gismat Gozalov wrote on X, Azernews reports. “The international conference and exhibition ‘Oil and Gas of Turkmenistan-2023’ kicked off in Ashgabat. At the event, the stand named SOCAR’s …

The city of Nakhchivan is hosting the 3rd Azerbaijan- Turkiye Energy Forum and the first International Conference themed “Nakhchivan – Green Energy Zone” Azernews reports. The conference participants first visited the monument of National Leader Heydar Aliyev in the city, laid flowers in front of it, and paid tribute. Later, the guests …

An Azerbaijani delegation led by the Head of the Antimonopoly and Consumer Market Control State Service under the Economy Ministry Mammad Abbasbeyli visited Korea, Azernews reports. As part of the trip, the delegation participated in the First Association of Southeast Asian Nations – Commonwealth of Independent States – Korea Fair Trade Commission …

Azerbaijan and Israel discussed the possibilities of diversifying trade and economic relations, Azernews reports, citing a post on X by the Azerbaijani Economy Minister Mikayil Jabbarov. The Minister notes that he had a video conference with Israeli Agriculture Minister Avi Dichter. The conference discussed the current state and future opportunities for diversifying …

Cooperation between Kazakhstan and Azerbaijan has reached a new level, said Kazakh Ambassador to Azerbaijan Alim Bayel at a roundtable discussion on “Azerbaijan-Kazakhstan relations: regional cooperation”, Azernews reports. “All this is the result of mutual visits of the heads of our states. This trustful dialog at the highest level is the key …

Economic relations between Azerbaijan and China are gradually deepening, and Azerbaijan Economy Minister Mikayil Jabbarov’s working visit to China which continued from September 1 to September 4 plays an important role in further developing economic relations between the two countries. China sees Azerbaijan as an important regional trade partner and …

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf met with the CEO of TotalEnergies Patrick Puyane, Azernews reports, citing SOCAR. ​ At the meeting, satisfaction was expressed with the long-term effective cooperation between SOCAR and TotalEnergies, and the strategic importance of jointly implemented projects in terms …

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 …