Economy

Another project in the format of trilateral cooperation in the field of railway transportation between Azerbaijan, Turkey and Russia has been launched. This time, a container export train is to be transported from Turkey to Russia. The 15-container train headed from Ankara, Turkey to Russia’s Vorsino station in Moscow. The …

On Jan.28, 2020, the Caspian Policy Center (CPC) hosted a panel of experts to discuss the significance of the Southern Gas Corridor (SGC) project, future energy infrastructure developments, decarbonization efforts, and regional integration. “The completion of the SGC comes at an interesting time of changing energy markets and increased focus …

Azerbaijan, which tripled its economy during the last 15 years and aims to double its economy relying on non-oil sector in the next 10 years, is preparing for a new investment wave that depends on the ability to take advantage of the fourth industrial revolution. According to the World Investment …

Azerbaijan was Georgia’s main bitumen supplier in 2020, accounting for 63.8 percent of this country’s total imports of bitumen, Azertag has reported. In 2020, Azerbaijan exported 82,100 tons of oil bitumen to Georgia. Overall, Georgia imported 128,700 tons of oil bitumen in 2020, which is by 24.3 percent or 41,300 …

Azerbaijan increased its trade turnover with Belarus by 37.7 percent, brining the volume to $313.1 million in 2020, the State Customs Committee has reported. Of total turnover, the country’s export to Belarus amounted to $164.9 million, while imports from Belarus to Azerbaijan reached $148.2 million. By comparison, the mutual trade turnover was $227.2 million in …

Azerbaijan and Turkey have signed a memorandum of understanding on developing small and medium businesses (SMO) of the two countries, Azertag has reported. The memorandum was signed between Azerbaijan’s Small and Medium Business Development Agency and the Turkish Association of Business People and Entrepreneurs (TÜMKİAD) during the TÜMKİAD delegation’s visit …

Iran-Azerbaijan-Russia trilateral cooperation within the North-South corridor will be researched during the visit of Iranian Foreign Minister Mohammad Javad Zarif to Azerbaijan, The Iranian Embassy in Azerbaijan told Trend. According to the report, Iranian Foreign Minister Mohammad Javad Zarif will pay a visit to the Republic of Azerbaijan on January 24-25, …

Azerbaijan State Oil Company (SOCAR) and Russian Transneft have signed a deal to pump over 1 million tons of oil through the Baku-Novorossiysk pipeline in 2021, the Russian media has reported with the reference to Transneft Press Secretary Igor Demin. Some 85,000 tons of Azerbaijani oil is planned to be …

Establishing joint railway and industrial town of Iran and Azerbaijan was finalized at the 14th meeting of the joint economic commission, said Governor-General of Ardebil Province Akbar Behnamjou on Tuesday. The two projects will be operationalized in the near future, Behnamjou told IRNA in an exclusive interview. Behnamjou said that …

Azerbaijan increased the volume of production in the non-oil and gas sector by 12.5 percent during the period of January-December 2020, the State Statistics Committee has reported. In 2020, industrial enterprises and individual entrepreneurs, operating in this sector, produced industrial products worth AZN 37.1 billion ($), which is a decrease …