Economy

Azerbaijan has supported the decision made on increasing daily oil production within the OPEC+ agreement by 400,000 barrels for January 2022, the Energy Ministry has reported on its website. The decision was taken at the 23rd Ministerial Meeting of the OPEC and non-OPEC countries. Energy Minister Parviz Shahbazov stated that …

Azerbaijan’s investment opportunities were presented in Korea within the forum entitled “Azerbaijan-Korea trade and investment forum: Great return to Karabakh: investment potential of liberated lands, ongoing and planned projects”. The event was organized jointly by Azerbaijan’s Export and Investment Promotion Foundation (AZPROMO), Azerbaijan’s embassy in Korea, and the Korea International …

Representatives of Azerbaijan Caspian Shipping Company, (ASCO), SOCAR, the State Agency for Maritime and Port Management, the Hydrographic Department of the Naval Forces and the Baku International Sea Trade Port CJSC have held a meeting on ensuring navigation safety in the Azerbaijani sector of the Caspian Sea. During the meeting, …

“The world is facing a wave of inflation triggered by extraordinary developments in global commodity prices,” Recep Tayyip Erdogan said on Wednesday, according to Anadolu Agency. “As humanity, we’ve felt the effects of the coronavirus pandemic very deeply in every area of our lives,” Turkey’s president said in a video …

The Summit of Heads of Member States of the Economic Cooperation Organization (ECO) will be held in Ashgabat, Turkmenistan on November 28. The summit will focus on further strengthening the activities of the organization, as well as expanding economic relations and enhancing mutually beneficial cooperation between the member states. The …

The Rasht-Astara railway project in the Gilan Province (northern Iran) is very important for Iran and Azerbaijan, Iranian Minister of Roads and Urban Development Rostam Ghasemi said, Trend reports. He made the remark during a meeting with Azerbaijani delegation led by Deputy Prime Minister of Azerbaijan Shahin Mustafayev. According to Ghasemi, that …

Azerbaijan increased electricity exports to neighboring Georgia by 1.56 percent, bringing the volume of exports to 505.7 million kWh in January-October 2021, Azertag has reported. During the reported period, Georgia imported a total of 1.7 billion kWh of electricity. Thus, Azerbaijan accounted for 29.32 percent of Georgia’s total electricity imports. It …

The 25th International Business Forum (IBF), co-organized by Azerbaijan’s Small and Medium Business Development Agency (SMBDA), Turkey’s Independent Industrialists and Businessmen Association (MUSIAD) and IBF, has kicked off in Baku. The event brings together high-level state officials from nearly 30 countries, representatives of international organizations, diplomatic corps, business associations, chambers …

The next step has been taken to facilitate the export of agricultural products produced in Azerbaijan. Thus, the new project, developed jointly by the Azerbaijani and Russian railways, provides for the quality and timely delivery of perishable agricultural products produced in Azerbaijan to the main market, Russian consumers. The project …

“Further expansion of cooperation with Azerbaijan is in line with business interests of BP”, said Chief Executive Officer of BP Bernard Looney as he met with President of Azerbaijan State Oil Company (SOCAR) Rovnag Abdullayev at SOCAR’s main office. Emphasizing the importance of the meeting between President Ilham Aliyev and …