Economy

Prospects for expanding mutual cooperation in the energy sector between the State Oil Company of Azerbaijan (SOCAR) and the Bolivarian Republic of Venezuela have been discussed, Azernews reports. With reference to SOCAR, this became known during the meeting of SOCAR President Rovshan Najaf with Ambassador Extraordinary and Plenipotentiary of Venezuela to Azerbaijan, …

The projects carried out in the field of “green energy” provide an opportunity to expand the potential of electricity production and export, and open wide prospects for the transportation of electricity from Central Asian countries to Europe through Azerbaijan. This was announced at a tripartite meeting held in Baku with …

Azerbaijan’s tourism potential has been presented in Shanghai, one of the largest cities in China, with reference to local media outlets, Azernews reports. Speaking at the event attended by representatives of Chinese tourism companies, Chairman of the State Tourism Agency Fuad Nagiyev said Azerbaijan, with its cultural heritage, colourful nature, and ancient …

“Currently, the Caspian region is experiencing a number of difficulties related to the negative impact of unresolved environmental problems.” This was stated by Minister of Ecology and Natural Resources Mukhtar Babayev at the meeting of the expert group to study the causes of changes in the level of the Caspian …

Azercosmos, the Space Agency of the Republic of Azerbaijan, has recently signed a new agreement with the Turkish satellite communications operator Türksat. According to the agreement, Türksat will be able to use the power of the Azerspace-2 telecommunications satellite in projects related to the transmission of satellite data in the …

Russia’s Penoplex Group has opened a plant in Azerbaijan’s Hajikabul district to manufacture thermal insulation panels, Azernews reports, citing Interfax. The company invested AZN18.4 million (about $10.8 million) in the Penoplex Prikavkazye plant, which was built on 6.7 hectares in the Hajikabul industrial quarter, Azerbaijan’s Economic Zones Development Agency reported. The plant …

Steps to be implemented within the Georgia Resilient Agriculture, Irrigation and Land Project were discussed in a meeting between the Georgian Agriculture Minister Otar Shamuagia and Rolande Pryce, the Regional Director of the World Bank in the South Caucasus, in Tbilisi on Monday, the Ministry said, Azernews reports, citing Agenda. Supported by …

SOCAR’s stand has been highly appreciated at the XXVIII International Conference and Exhibition “Oil and Gas of Turkmenistan-2023,” Ambassador of Azerbaijan to Turkmenistan Gismat Gozalov wrote on X, Azernews reports. “The international conference and exhibition ‘Oil and Gas of Turkmenistan-2023’ kicked off in Ashgabat. At the event, the stand named SOCAR’s …

The city of Nakhchivan is hosting the 3rd Azerbaijan- Turkiye Energy Forum and the first International Conference themed “Nakhchivan – Green Energy Zone” Azernews reports. The conference participants first visited the monument of National Leader Heydar Aliyev in the city, laid flowers in front of it, and paid tribute. Later, the guests …

An Azerbaijani delegation led by the Head of the Antimonopoly and Consumer Market Control State Service under the Economy Ministry Mammad Abbasbeyli visited Korea, Azernews reports. As part of the trip, the delegation participated in the First Association of Southeast Asian Nations – Commonwealth of Independent States – Korea Fair Trade Commission …