Economy

A record number of container trains – 48 units – have been shipped to Azerbaijan within the TURKUAZ project, which implements rail freight from Turkey to Azerbaijan and vice versa passing through Georgia via the Baku-Tbilisi-Kars railway, ADY Container reported on July 16. Overall, 1.344 tons of granulated sugar has …

SOCAR and Technip Energies entered today a cooperation agreement to study sustainability measures in the offshore upstream activities, including CO2 emission reduction, improvement of power efficiency and associated optimization in the total cost of ownership. The cooperation agreement includes evaluation of a joint pilot project for offshore energy production on …

Azerbaijan increased the volume of trade turnover with Georgia by $161.1 million during the first five months of 2021, the State Customs Committee has reported. The trade turnover between the two countries amounted to $379 million, with exports amounting to $348.6 million and imports to $30.3 million. Thus, Georgia became Azerbaijan’s …

The prosecutor generals of the five Caspian states – Azerbaijan, Iran, Kazakhstan, Turkmenistan and Russia – signed a declaration on cooperation in the protection of the Caspian Sea, Trend reports. The document was signed at a meeting of prosecutor generals of the states of the Caspian region, which was held on on …

Baku and Islamabad have set up the Pakistan-Azerbaijan Chamber of Economic Cooperation (PAKAZCHAM) to develop and deepen economic cooperation between the two countries, local media has reported. Membership of the Chamber will soon be open to legal and commercial structures of both countries, with Baku hosting the permanent representation of …

A regular meeting of the Working Group on Energy Supply of the Interdepartmental Center, functioning under the Coordination Headquarters of Azerbaijan, has been held, Trend reports on July 3. The working group was created with the aim to find the centralized solution of issues in the territories of Azerbaijan, previously …

The Russian Export Center offered to use its financial instruments for the implementation of big infrastructure projects in Azerbaijan, Trend reports on July 2 with reference to the Russian Export Center and the statement made during the meeting of Deputy Prime Minister of Azerbaijan Shahin Mustafayev and the Russian delegation headed by …

Russia’s agriculture watchdog Rosselkhoznadzor has lifted the ban on tomato imports from eleven more Azerbaijani enterprises, starting from July 1. The decision was made based on the results of the quarantine phytosanitary examination of samples of products selected during the joint video inspections, and under the guarantees of Azerbaijan’s Food …

Azerbaijan’s Nagorno-Karabakh has a potential to become a renewable energy haven in the region, UK’s ABC Money news agency has reported. In an article “How Azerbaijan is Transforming Karabakh into a Renewable Energy Hub”, the agency noted that the implementation of such renewable energy projects in Nagorno-Karabakh is part of Azerbaijan’s …

The trade turnover between Azerbaijan and China amounted to $553.4 million from January through April 2021, which is by 10.2 percent more than in the same period of last year, Trend reports with reference to the Azerbaijani State Customs Committee. Azerbaijan exported goods worth $119.7 million to China in the reporting period …