Economy

By Leman Mammadova Direct flights will be opened between Azerbaijan and Pakistan, Azerbaijani Ambassador to Pakistan Ali Alizade said on the Pakistani television channel Channel 5. The parties began to work in this direction, he said during the Diplomatic Enclave telecast. Alizade expressed official Baku’s interest in expanding trade and economic cooperation with …

The capitalization of the banking sector of Azerbaijan in October 2018 amounted to 4.7 billion manats, which is 12.43 percent more than the figure at the beginning of the year, Trend reports referring to the Financial Market Supervision Authority (FIMSA). As the FIMSA report said, the total assets of banks …

Import and export operations between Azerbaijan and Belarus reached $186 million in 11 months of this year, which is about $26 million more against the same period of 2017, according to the National Statistical Committee of Belarus. The volume of imports from Belarus to Azerbaijan amounted to $165,377,000, while exports …

Chairman of the Azerbaijan-Ukraine International Alliance Elmar Mammadov and head of Volyn Regional State Administration Alexander Savchenko discussed the ways of developing tourism relations between the two countries. Mammadov called on Ukrainian companies to invest in the development of tourism in Azerbaijan. He said that transparent conditions have been created …

Official exchange rate of the Azerbaijani manat against the US dollar, set by the Central Bank of Azerbaijan (CBA), remained unchanged last week. Accordingly, at the end of the week, the average rate was 1.7 AZN/USD. Official AZN/USD exchange rate December 3 1.7 December 10 1.7 December 4 1.7 December …

Azerbaijan will open two wine houses in Moscow in 2019, said Minister of Economy and Industry Shahin Mustafayev at the 17th Azerbaijan-Russia Intergovernmental Commission on Economic Cooperation held in the Russian capital. The minister also revealed plans to launch wine houses in the Russian cities of Yekaterinburg and Saint Petersburg.

The price of Azerbaijani oil has decreased on the world markets. The price of a barrel of Azeri Light crude fell $0.82 to stand at $62.19.

The delegation of Azerbaijani entrepreneurs left for Saudi Arabia to establish cooperation, the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) told Trend on Dec. 13. “The Azerbaijani delegation includes 29 companies engaged in the production of building materials, textiles, canned products, juices, as well as travel agencies, etc.,” AZPROMO said. …

Co-organized by Azerbaijan’s Ministry of Agriculture and Ministry of Economy, an Azerbaijan-Turkey agricultural forum has been held in Baku. Participants in the event included heads of Azerbaijan’s government bodies, businessmen, and a 65-member Turkish delegation. Addressing the forum, Azerbaijan’s Minister of Agriculture Inam Karimov noted that built on the basis …

In Azerbaijan, always welcome guests. Whenever you come here, a warm and cordial welcome awaits you. But there are such festivals in our country that seem to be created to demonstrate the generosity of the Azerbaijani land and the hospitality of the people. If you make a visit to such …