Economy

The 7th meeting of the Joint Commission on Trade, Economic, Scientific, Technical and Cultural Cooperation between the governments of Azerbaijan and Romania will be held in Bucharest, co-chairman of the commission from the Azerbaijani side, Minister of Labour and Social Protection of Population Sahil Babayev said, the ministry told Azernews. …

Increasing the number of Azerbaijani satellites is one of the important issues, Azernews reports, citing the Chairman of Azerkosmos, Samaddin Asadov telling at the discussion of the new draft law “On Space Activity”, which was discussed at the committee meeting of the Milli Majlis on May 11. He noted that currently, Azerbaijan …

The Cabinet of Ministers has made changes in the “goods nomenclature of foreign economic activity of the Republic of Azerbaijan, rates of import customs duties and rates of export customs duties,” Azernews reports. The decision was prepared in order to adapt the current legislation to the “Protocol on Amendments to the Preferential …

Chairman of Azerbaijan’s State Customs Committee, Customs Service Lieutenant General Shahin Baghirov has met with a delegation led by Parliamentary Vice-Minister for Foreign Affairs of Japan Yoshikawa Yuumi. Touching upon the economic and trade relations between the two countries, the sides stressed the importance of further strengthening of cooperation in …

The investments of SOCAR Türkiye have reached $18bn, Azernews reports, citing the CEO of SOCAR Turkiye, Elchin Ibadov’s interview given to international media outlets. “SOCAR is the largest foreign direct investor in Turkiye. As a company operating in the field of energy, which is one of the most priority areas for the …

Gas prices in Bulgaria in May were reduced by 21 percent compared to April due to gas supplies from Azerbaijan. Azernews reports, citing local media, this is stated in the message of the Bulgarian Energy and Water Supply Regulatory Commission (EWRC). Thus, prices for May are set at BGN 77.55 (USD …

4.0-magnitude tremors were recorded at 0756 (GMT+4) in the Caspian Sea, Azernews reports via the Republican Seismic Survey Center (RSSC) of Azerbaijan The epicenter of the quake was located at a depth of 56 kilometers. Republican Seismic Survey Center is the main organization, involved in the research and study of earthquakes on …

The State Maritime and Port Agency under the Azerbaijani Ministry of Digital Development and Transport and the General Directorate for Maritime Affairs of the Turkish Ministry of Transport and Infrastructure have signed a memorandum of understanding on cooperation in maritime transport. The document was inked by Chairman of the Board …

The 5th meeting of the Azerbaijan-Saudi Arabia Working Group has been held in Riyadh, bringing together representatives of relevant institutions as well as businessmen of both countries to explore potential collaborations and opportunities. The meeting, co-chaired by Deputy Minister of International Relations at Ministry of Investment of Saudi Arabia Mohammed …

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 …