Economy

The first meeting of the Azerbaijan-Saudi Arabia Business Council will be held in the coming months, Azernews reports. Azerbaijani Small and Medium Business Development Agency board chairman Orkhan Mammadov said that the process of establishing the Council between the town countries is still ongoing. “As co-chairs, Ahmed Dakheel and I discussed the …

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, …

An Azerbaijani company operating in the Sumgayit Chemical Industrial Park started exporting its products to the USA, Azernews reports citing the Economic Zones Development Agency (EZDA). According to the agency, the export geography of Azertexnolayn LLC, a resident in the Sumgayit Chemical Industrial Park under the management of the Economic …

Azerbaijan ranks third among Georgia’s foreign trade partners after Russia and Turkiye, Azernews reports, citing the National Statistics Office of Georgia. According to the report of the Georgian statistics office on the results of 2023, trade turnover between Azerbaijan and Georgia amounted to $120 m. The report reads that Georgia’s …

The 9th meeting of Azerbaijan-Hungary Joint Intergovernmental Commission on economic cooperation has been held in Budapest, the capital city of Hungary. Prior to the meeting, Co-chair of the Commission, Azerbaijani Minister of Labor and Social Protection of the Population Sahil Babayev met with Co-chair of the Commission, Hungarian Minister of …

BP plans to drill three oil wells in the Azeri Central East (ACE) platform at the Azeri-Chirag-Gunashli (ACG) block of fields, Azernews reports citing bp Regional President to Azerbaijan, Georgia, and Turkiye Gary Jones telling at the briefing dedicated to company’s plans for future. “The first well will be drilled …

“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 …

The official visit of Romanian President Klaus Iohannis to Azerbaijan on February 2 proves that the European countries are interested in elevating and further expanding cooperation with Azerbaijan to the level of strategic partnership, Azernews reports, citing MP Kamaladdin Gafarov. Romanian-Azerbaijani relations have been intensively developing on the basis of …

The Czech Republic is exploring opportunities to expand its presence in the transport connectivity and energy sectors in Azerbaijan, Jaroslav Kurfürst, Deputy Minister of Foreign Affairs of the Czech Republic, told Trend exclusively. “In the previous decade, the most important Czech investment projects in Azerbaijan were in the field of transport infrastructure. …

Azerbaijani and Pakistani officials discussed cooperation in the pharmaceutics sector. The discussions took place between Chairman of the Economic Zones Development Agency (EZDA) Elshad Nuriyev and Pakistani Ambassador in Azerbaijan Bilal Hayee and CEO of IBL Group Seyid Nadim Ahmed. During the meeting, the parties discussed the possibility of implementing …