Economy

A meeting has been held between the Pakistani Ambassador to Azerbaijan Bilal Hayee and President of Azerbaijan Airlines (AZAL) Jahangir Asgarov. The sides discussed issues of bilateral cooperation between Azerbaijan and Pakistan in the field of civil aviation, as well as long-term plans to increase passenger and cargo traffic. The …

Baku will host an extraordinary meeting of heads of member states of the Turkic Chambers of Commerce and Industry (TCCI) on Monday, the National Confederation of the Entrepreneurs (Employers’) Organizations of Azerbaijan Republic (AEC) has told AZERTAC. The meeting, on the theme of “A new era of social and economic development …

Azerbaijan is taking important steps to accelerate the development of alternative energy, Azerbaijani Energy Minister Parviz Shahbazov said. Shahbazov made the remarks at the Baku International Energy Charter Forum on “Transition to renewable energy sources in electricity production, transport, heating and cooling: modern challenges and trends”, Trend reports. “The transition in the …

Russia was Azerbaijan’s largest trade partner among CIS countries during the first nine months of 2020, with the trade turnover between the two countries amounting to $1.9 billion, the State Customs Committee has reported. Of the total turnover, export of Azerbaijani goods to Russia amounted to $499.7 million, while the goods imported …

On October 6, 2020 Armenians launched cluster bombs on the Baku-Tbilisi-Ceyhan pipeline. Although the shell fragments fell within 10 meters of the pipeline, it was not damaged. Thus, the energy supply to Europe – the project of the 20th century, was not interrupted. This event once again demonstrates how sensitive …

The third report on “Energy Investment Risk Assessment” was presented online within the Azerbaijan’s chairmanship of the International Energy Charter (IEC), Energy Ministry has reported. The report assesses the legal and regulatory risks of energy investments in 30 countries in Asia, Europe, America and Africa. During the videoconference, Deputy Energy …

The volume of traffic on the Belarusian Railway with Azerbaijan increased by 7.4 percent, amounting to 100,000 tons during the period of January-August 2020, Belarusian media has reported. During the reporting period, cargoes to Azerbaijan mostly included the woodworking products from Belarus. The range of cargoes also included construction materials, …

Azerbaijan was the fourth largest trading partner of neighbouring Georgia in the period between January and August this year with the trade turnover between the two countries amounting to $594 million in the reporting period. Azerbaijan’s share in Georgia’s total trade turnover was 8.5 percent. Thus, Azerbaijan is the fourth …

Russia was Azerbaijan’s top export market in the first eight months of this year, according to the State Customs Committee. Official statistics suggests that Russia, Ukraine and Belarus were the largest export destinations of Azerbaijan among the CIS member states. The volume of export with Russia made $463.3 million, while …

Azerbaijan`s Minister of Ecology and Natural Resources Mukhtar Babayev and Chairman of Japan-Azerbaijan Economic Commission, Managing Executive Officer of ITOCHU Corporation, President of Energy and Chemicals Company Keita Ishii have discussed prospects for economic cooperation between the two countries during a video conference. Minister Babayev hailed cooperation with Japan in …