Economy

Azerbaijan and Tajikistan have exchanged views on strengthening cooperation in land management, cadastre, and related fields, Azernews reports, citing the State Service on Property Issues under the Ministry of Economy. The head of the Azerbaijani agency, Matin Eynullayev, met with a delegation led by Orif Khojazoda, Chairman of Tajikistan’s State Committee on …

The third round of the high-level energy dialogue between Azerbaijan and the European Commission is scheduled to be held in Brussels on June 13, Azerbaijani Deputy Minister of Energy Orkhan Zeynalov announced in an interview with European media, Azernews reports. This meeting is part of the implementation of the Memorandum of Understanding …

At the Baku Energy Forum, SOCAR Vice-President Afgan Isayev emphasised the urgent need to establish a consortium among Caspian Sea countries to address the region’s complex logistics and lack of access to open seas, Azernews reports. “Logistics remains one of the key challenges facing Azerbaijan,” A. Isayev stated. “We do not have …

Azerbaijan Railways CJSC (ADY), a subsidiary of AZCON Holding, has intensified cooperation with Chinese logistics partners to boost container block train traffic along the Central Corridor, also known as the Middle Corridor, and to enhance digital cargo tracking solutions, Azernews reports. The discussions took place during the “Transport and Logistics – 2025” …

Azerbaijan and Moldova are exploring new opportunities to deepen bilateral cooperation across a range of sectors including investment, trade, and energy, Azernews reports, citing a post shared by Economy Minister Mikayil Jabbarov on his official account on the social media platform “X.” The discussions took place during a meeting with Moldova’s Deputy …

In 2024, a noteworthy yet modest development in Azerbaijan’s economic landscape occurred with the entry of direct foreign investment from Mexico. For the first time, Mexico contributed $5.2 million to Azerbaijan’s economy, marking a milestone in the relationship between the two nations. Although this investment accounted for just 0.1% of …

In recent years, Azerbaijan has focused on harnessing its economic potential and promoting export-oriented agricultural production. These efforts have led to significant progress in the development of traditional agricultural sectors. The modernization of infrastructure, better utilization of labor resources, and the effective use of natural resources have allowed for increased …

This week, the average prices of Azeri LT CIF, Azeri Light FOB Ceyhan, and Dated Brent crude oil increased, while the average price of Urals (EX NOVO) crude oil saw a decline, Azernews reports. The average price of Azeri Light crude oil, based on CIF from Azerbaijan’s Azeri-Chirag-Gunashli field, rose by $0.1 …

A joint meeting of the Economic Council and the Supervisory Board of the Azerbaijan Investment Holding was chaired by Prime Minister Ali Asadov. The agenda covered discussions on the current situation, key indicators, and prospects in the country’s oil and gas sector. Topics included the long-term development plans of SOCAR …

In 2024, a total of 19 wells were drilled in the Azeri-Chirag-Guneshli (ACG) oil field, exceeding the initial plan of 18 wells. This was stated by Russell Morris, bp’s Vice President for Wells in Azerbaijan, Georgia, and Türkiye, during the IADC Drilling Caspian 2025 conference in Baku, Azernews reports. Morris noted that …