Economy

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has earned $78.5 million from the Shah Deniz field (gas and condensate) since the beginning of the current year until April 1, Azernews reports. According to information released by the State Oil Fund of the Republic of Azerbaijan, revenues from the Shah …

Azerbaijan’s tourism potential has been demonstrated at the International Mediterranean Tourism Market (IMTM 2024) in Tel Aviv, Israel. Six local partners, including the Azerbaijan Tourism Board, Azerbaijan Airlines CJSC, and Shahdag Mountain Resort, are representing the country at IMTM 2024, which welcomed 2,200 representatives from 65 countries, Azernews reports. The International Mediterranean …

Azerbaijani Ambassador to Bosnia and Herzegovina Vilayat Guliyev has met with the Serb member of Bosnia and Herzegovina, Željka Cvijanović, and the Prime Minister of the Republic of Srpska, one of the two entities of the country, Radovan Višković, Azernews reports, citing Azertag. During the meeting, the sides hailed the excellent political …

The Intellectual Property Agency earned 1,902,473 manats ($ 1119101.76) in revenue last year, Azernews reports, citing the agency’s report for the year 2023. It was noted that during the reporting year, the state budget received 224 thousand manats ($131764.70) in state fees due to the agency’s provision of services stipulated in the …

Bilge Adam, a large Turkish technology company with more than 27 years of experience in the fields of software development, system integration, and technology services, is coming to Azerbaijan, Azernews reports. The company got acquainted with the local business environment and evaluated cooperation formats within the framework of the visit of 19 …

Ankara is considering options for supplying Turkmen gas to Turkiye through Azerbaijan, Iran and the Caspian Sea, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar said, Azernews reports. “Turkmen gas is an issue that has been on our agenda for many years. There are three options for gas delivery. One of …

The recent meeting between Azerbaijan’s Minister of Labor and Social Protection of Population and Co-Chair of the Intergovernmental Commission on Trade and Economic Cooperation, Sahil Babayev, and Serbia’s Ambassador to Azerbaijan, Dragan Vladisavljević, highlights the growing momentum in bilateral relations between the two nations. Against a backdrop of shared strategic …

The 10th Southern Gas Corridor Advisory Council Ministerial Meeting and the 2nd Green Energy Advisory Council Ministerial Meeting, held in Azerbaijan’s capital city of Baku, hit the headlines in the media outlets of Italy such as Energia Italia, Agenzia Nova, il Secolo XIX, Borsa Italiana, Green Economy Agency, Azernews reports. The articles …

To promote economic activities and diversify exports, Azerbaijan takes different measures. One of these measures is to strengthen its position in e-commerce. For this purpose, the government conducts regular reforms, and officials hold meetings with representatives of governments and companies. In this regard, Azerbaijan recently hosted the representative of the …

Azerbaijan and Latvia have discussed directions for the expansion of non-oil Azerbaijani exports, Azernews reports. According to the Ministry of Economy of Azerbaijan, Deputy Minister Sahib Mammadov met with Deputy Minister of Agriculture of the Republic of Latvia, Normunds Shmits. At the meeting, the role of mutual visits and high-level meetings in …