Economy

A long queue of cargo trucks has been observed at Azerbaijan’s Samur customs post of the General Customs Department for Northern Territories on the border with Russia, the Azerbaijani State Customs Committee told Trend on October 25. According to the committee, there is no problem with the departure of cars through the …

The Azerbaijan Space Agency (Azercosmos) under the Ministry of Digital Development and Transport, and the Pakistan Space and Upper Atmosphere Research Commission (SUPARCO) have signed a Memorandum of Understanding (MoU). The memorandum envisages cooperation in various areas of space. This includes joint actions in space science, technology and applications, human …

The Azerbaijani parliament has approved a social security deal with Serbia, Azernews reports. On October 21, a draft bill “On the adoption of the agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of Serbia on social security” was presented to parliament’s discussion. Musa …

The tax revenues to the state budget equaled AZN10.4 billion ($6.1bn) in January-September 2022, Azerbaijan’s Economy Minister Mikayil Jabbarov said, Azernews reports. He added that this amount is AZN4bn ($2.4bn) or 64.5 percent more than during the relevant period of 2021. “In January-September of 2022, the tax revenues to the …

Azerbaijan’s First Deputy Prime Minister Shahin Mustafayev and Iranian Vice-President and Head of Department of Environment Ali Salajegheh discussed issues of protecting the environment of the Caspian Sea, Azernews reports. During the meeting, the sides noted the significance of the 6th Conference of the Parties to the Framework Convention for …

Azerbaijan’s State Oil Company (SOCAR) and Romanian Romgaz have signed a memorandum of understanding on cooperation, Azernews reports. The document was signed by SOCAR Vice President Elshad Nasirov and Romgaz S.N.G.N Deputy Chief Officer Aristotel Jude during the visit of Economy Minister Mikayil Jabbarov, Energy Minister Parviz Shahbazov and SOCAR …

“In recent days, there have been different opinions that the decision of OPEC plus to cut daily oil production by 2 million barrels since November will lead to a deficit in the oil market. I believe that OPEC plus, as always, this time adopted such a decision in order to …

The Embassy of India in Baku has organized a B2B meeting on India-Azerbaijan Cooperation in tiles sector with the participation of an Indian delegation comprising four companies and about 15 representatives of major Azerbaijani companies and business support organizations including AZPROMO. Companies from both countries gathered in JW Marriott Absheron …

AZAL President Jahangir Asgarov has met with Senior Vice President of the Italian company “Leonardo” Marco Buratti to discuss prospects for cooperation in civil aviation. The parties at the meeting touched on the issues of cooperation in the field of aircraft maintenance and repair, as well as the introduction of …

Azerbaijan`s Minister of Energy Parviz Shahbazov has participated in the “New Challenges, New Opportunities: What’s in Store for the Oil and Gas Market?” Plenary Session at the Russian Energy Week International Forum. The minister shared his views on the balancing of the global oil market and the development of green …