Economy

Canadian magazine highlights Azerbaijan`s economic accomplishments

13.01.2011 | Readed: 802

The "Diplomat and International Canada" magazine has published an article "Azerbaijan, Georgia, Armenia: East confronts West" by Fen Osler Hampson, Director of the Norman Paterson School of International Affairs, Carleton University, Ottawa. According to the Azerbaijani embassy to......

Ministry of Taxes introduces new service Video Guide

11.01.2011 | Readed: 833

The official web page of the Ministry of Taxes of Azerbaijan www.taxes.gov.az has introduced a new section Video Guide for its users. The new section, which will be functioning in Azerbaijani, Russian and English, is aimed at......

SOCAR over-fulfils plan on gas delivery in 2010

08.01.2011 | Readed: 789

SOCAR delivered 909,982 million cubic meters (mcm) of gas to the state gas supply system in December. 22,190 mcm of gas was injected and 160,961 mcm of gas was collected out during December. A total of 1,048,753 billion cubic meters of gas was consumed in December. Of this total, 932,830 mcm of......

Azeri Prime Minister meets Kyrgyz delegation

30.12.2010 | Readed: 751

Azerbaijan`s Prime Minister Artur Rasizade met first deputy premier of Kirgizstan Omurbek Babanov. Mr. Rasizade updated the economic and political achievements of the country. He stressed a necessity to boost cooperation in the fields of economy, culture and science. Mr. Babanov......

President Ilham Aliyev endorses 2011 budget of State Oil Fund

29.12.2010 | Readed: 769

President of Azerbaijan Ilham Aliyev signed an order to endorse the 2011 budget of the State Oil Fund of the Azerbaijan Republic (SOF). Under the order, SOF`s revenues will be AZN 9,132,941,000 and expenditures 6,886,155,400 SOF`s revenue of 8,349,564,100 manats will come from the......

ECO countries` foreign ministers gather in Istanbul

23.12.2010 | Readed: 751

On the threshold of the Economic Cooperation Organization`s XI Summit the foreign minister of member countries held their 19th meeting. Azerbaijan`s foreign minister Elmar Mammadyarov took part at the event. As stated, in the meeting the ECO foreign ministers council presidency passed From......

Chairman of Nakhchivan Supreme Assembly meets Korean ambassador to Azerbaijan

22.12.2010 | Readed: 857

Chairman of Supreme Assembly of the Nakhchivan Autonomous Republic Vasif Talibov has met Korean ambassador to Azerbaijan Lee Chi-han. The chairman of Supreme Assembly informed the ambassador about the Autonomous Republic`s status, economy, science and education. Lee Chi-han said the......

Azeri Premier views Uzbekistan`s National Exhibition in Baku

05.12.2010 | Readed: 819

On December 4th Prime Minister of Azerbaijan Artur Rasizade visited the first National Exhibition of Uzbekistan launched here. Uzbek Deputy Premier, Minister of Foreign Economic Relations, Investments and Trade Elyor Ganiev informed Rasizade about the products demonstrated at the......

Baku to host international conference on Caspian climate

01.12.2010 | Readed: 760

An international conference on "Management of the climate change mitigation initiatives of Caspian oil and gas companies - an inter-regional exchange of experience" is kicking off today in Azerbaijan`s capital. The conference is co-organized by the State Oil Company of Azerbaijan Republic......

Azeri Premier meets polish deputy PM

25.11.2010 | Readed: 746

Azerbaijan`s Prime Minister Artur Rasizade met with Deputy Premier of Poland Valdemar Pawlak. Rasizade praised political and cultural relations between the two states, adding "there is a good potential to increase economic cooperation". The Azeri Premier expressed confidence......

Azerbaijan, ADB discuss cooperation plans

24.11.2010 | Readed: 787

Finance Minister of Azerbaijan Samir SHarifov met with new Asian Development Bank`s country director for Azerbaijan Olly Norojono on Tuesday.  The meeting discussed present state of Azerbaijan-ADB relations including future cooperation plans. Norojono pointed out the ADB is......

Hillary Clinton: We are working to secure new sources of natural gas for Europe by expanding cooperation with partners in Middle East and Caspian region

21.11.2010 | Readed: 815

We are working to secure new sources of natural gas for Europe by expanding cooperation with partners in the Middle East and the Caspian region, including Azerbaijan; a new supply route through Georgia, Turkey, and into Europe, U.S. Secretary of State Hillary Clinton said in her remarks at the......

‘Belarus eager to get Azerbaijan oil using swap scheme'

21.11.2010 | Readed: 796

Belarus suggests purchasing oil from Azerbaijan using a swap scheme, said President of Belarus Alexander Lukashenko as he met with President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev. The Belarusian head of state was thankful to the President of Azerbaijan for......

SOFAZ`s assets reach USD 21 720.8 mln

07.11.2010 | Readed: 757

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2010 reached 9 578.2 mln manats, while budget expenditures constituted 3 944.6 mln manats. Revenue of 9 458.7 mln manats was received from implementation of oil and gas......

Azerbaijan`s National Exhibition in Tashkent ‘very well' organized

07.11.2010 | Readed: 785

Uzbek Deputy Premier, Minister of Foregin Economic Relations, Investments and Trade Elyer Ganiyev said in his meeting with Azeri Economic Development Minister Shahin Mustafayev that National Exhibition of Azerbaijan in Tashkent has been very well organized. Ganiyev said it was the wise......

Azeri FM joins Fourth Regional Economic Cooperation Conference on Afghanistan

04.11.2010 | Readed: 753

The Azerbaijan`s Minister of Foreign Affairs, Elmar Mammadyarov, took part in the Fourth Regional Economic Cooperation Conference on Afghanistan in Istanbul. Prior to the opening of the conference, Azeri FM met Turkey`s Foreign minister Ahmad Davudoglu. The meeting focused on the......

Azerbaijan, Egypt to discuss economic ties in Cairo

04.11.2010 | Readed: 820

The fourth meeting of the Azerbaijan - Egypt Intergovernmental Committee on Economic, Scientific and Cultural Cooperation is due in Cairo in March, 2011. The meeting will highlight the investment opportunities and trade turnover, prospects of development of Azerbaijani-Egyptian cooperation in......

Azerbaijan`s economy in focus of Columbus symposium

31.10.2010 | Readed: 819

Counsellor of Azerbaijan Embassy to Austria Shamil Alasgarov participated in Columbus symposium in Austrian city Saltsburg. Mr. Alasgarov briefed on economic development of Azerbaijan, non-oil sector and large-scale projects. Chief of Azerbaijan State Oil Company`s office in Austria......

Turkish delegation to visit Nakhchivan

27.10.2010 | Readed: 757

A Turkish delegation led by Zafar Caghlayan, state minister for foreign trade, will be visiting the Nakhchivan Autonomous Republic from Tuesday. During the 2-day stay, the delegation comprised of 90 state officials, border zone authorities and business leaders will hold meetings with......

Azerbaijani Foreign Minister meets US Treasury Under Secretary

20.10.2010 | Readed: 891

Azerbaijani minister of foreign affairs Elmar Mammadyarov met with the US delegation led by US Treasury Under Secretary Stuart Levey. The sides discussed Azerbaijan-US relations, development of bilateral economic cooperation and regional issues. The Azeri minister said the......

Baku hosts business forum on railway development prospects

13.10.2010 | Readed: 817

A business forum "Strategic partnership 1520: Caucasus region" kicked off here Tuesday to mark the 130th anniversary of the "Azerbaijan Railways".{nl}The event provides forum for discussions on the railways in CIS member countries and Baltic nations as well as Finland and Mongolia. 1520......

SOCAR over-fulfils plan on gas custody transfer for the last nine months

09.10.2010 | Readed: 796

SOCAR delivered 881 mln 66 thousand cubic meters of gas to the state gas supply system in September. 260 mln 54 thousand cubic meters of gas was injected during September. A total of 621 mln 12 thousand cubic meters of gas was consumed in September. Of this total, 527 mln 120 thousand cubic......

Azerbaijan, Russia discuss migration issues

29.09.2010 | Readed: 777

Azerbaijani Prime Minister Artur Rasizade received Director of the Federal Migration Service of Russia, colonel-general Konstantin Romodanovsky. According to press service of the Cabinet, the sides hailed the work done to create legal base on migration service among the CIS countries.......

Azerbaijan, Morocco discuss cooperation prospects

29.09.2010 | Readed: 824

Deputy Foreign Minister of Azerbaijan Khalaf Khalafov has met Speaker of the Moroccan House of Representatives Abdelwahad Radi. Khalafov said Azerbaijan and Morocco had successful political dialogue. He noted the two countries had great potential to boost the economic cooperation. He......

Azerbaijan promotes its potential at US Asia Expo

23.09.2010 | Readed: 740

Azerbaijan has promoted its potential at the US Asia Expo, which comprised an investment seminar, business expo and global Venture funding in Los Angeles. The opening of event was attended by Los Angeles mayor Antonio Villaraigosa, ambassadors and general consulates of diplomatic missions......

Azeri Premier meets Adb`s Vice-President

18.09.2010 | Readed: 800

Prime Minister of Azerbaijan Artur Rasizade met Vice-President of the Asian Development Bank Xiaoyu Zhao. During the meeting, Zhao praised the accomplishments achieved in Azerbaijan in social, economic and humanitarian spheres. The sides discussed the current state of the......

Baku hosts international conference on Azerbaijan model of economic growth

18.09.2010 | Readed: 819

An international conference entitled "Azerbaijan model of economic development" has been organized here by the Regional Development Center in Azerbaijan. Opening session "Azerbaijani economy: yesterday, today and tomorrow", director of the Center said Azerbaijan suffered the least from......

Kazakhstan intends to increase volume of trade turnover with Azerbaijan, Kazakh ambassador

31.08.2010 | Readed: 737

Kazakhstan intends to increase the volume of trade turnover with Azerbaijan, ambassador Serik Primbetov told journalists. The ambassador noted the volume of trade turnover between the two countries made up $465 million in 2008, but as a result of the implications of the global financial......

IDB-Azerbaijan relationship ‘developing rapidly'

21.08.2010 | Readed: 825

The relationship between the Islamic development Bank and Azerbaijan was developing rapidly, Executive Director of the Islamic Development Bank Selim Cafer Karatas told AzerTAc. Karatas said the IDB plans to carry out several projects in Azerbaijan in the near future. He praised the......

Milli Majlis members meet Lithuanian delegation

17.08.2010 | Readed: 753

Members of the Azerbaijan Milli Majlis Committee on Economic Policy met the Lithuanian delegation headed by Arunas Valinskas, chairman of Resurrection Party and member of Lithuanian Seimas` Committee on Foreign Affairs on Monday. Chairman of the Committee Ziyad Samadzade said both......

Azerbaijan's investment and export opportunities presented

11.08.2010 | Readed: 770

Azerbaijan Export and Investment Promotion Foundation (AZPROMO) organized Monday presentation of investment and export opportunities of the country. The event brought together UN Resident Coordinator and UNDP Resident Representative Fikret Akcura, Azerbaijan's ambassador to Ukraine......

Shah Deniz 2 consortium to hold talks with customers

06.08.2010 | Readed: 775

Norwegian energy company Statoil ASA (STO) said Wednesday that the consortium operating the Shah Deniz 2 gas field in Azerbaijan plans to begin bilateral talks with potential customers over the supply of around 10 billion cubic meters of gas a year. The second expansion stage of Shah Deniz......

‘Switzerland will support all efforts to ensure Azerbaijan's development'

04.08.2010 | Readed: 740

"My country will always support all important efforts aimed at ensuring Azerbaijan's sustainable development", Swiss ambassador in Baku Alain Guidetti said. The diplomat praised relations between Switzerland and Azerbaijan, saying "the two countries enjoy solid friendly ties in......

Russian Presidential Administration chief praises economic cooperation with Azerbaijan

03.08.2010 | Readed: 754

Head of the Russian Federation's Presidential Administration has praised his country's economic cooperation with Azerbaijan. Sergey Naryshkin spoke to journalists as he is visiting Baku. "Despite the global economic crisis our loses in trade were not big last year, and......

Azerbaijan Central Bank suspends Contact money transfer system

03.08.2010 | Readed: 801

The Central Bank of Azerbaijan has instructed all local banks across the country to stop business relations with the Contact money transfer system. The move came after a monitoring revealed the system had carried out financial operations in Armenian-occupied territories of......

SOFAZ budget revenues stand at 6 101.2 million manats for January-June 2010

03.08.2010 | Readed: 743

Budget revenues of Azerbaijan State Oil Fund (SOFAZ) for the period of January-June, 2010 reached 6 101.2 million manats, while budget expenditures constituted 2 630.2 mln manats. Revenue of 6 089.3 mln manats was received from implementation of oil and gas agreements, including 6 000.1......

US special envoy on Eurasian energy: Azerbaijan has always been reliable transit country

29.07.2010 | Readed: 761

The United States` special envoy for energy issues in Eurasia Richard Morningstar said Azerbaijan has always been a reliable transit country. "And I hope it will remain so in the future," Morningstar said while visiting Astana, the capital of Kazakhstan. He also commented on the......

Azeri Premier meets Turkish minister of state for foreign trade

29.07.2010 | Readed: 803

Prime Minister of Azerbaijan Artur Rasizade met Turkish minister of state responsible for foreign trade Zafer Caglayan on Wednesday. Rasizade said reciprocal visits contribute to boosting cooperation between the two countries in political, economic and humanitarian spheres. The......

Turkish minister: We must increase trade with Azerbaijan to $5bn

29.07.2010 | Readed: 798

Turkey's State Minister Responsible for Foreign Trade has stressed the necessity of boosting the bilateral trade with Azerbaijan, saying "we must make it reach 5 billion dollars". Zafer Caglayan spoke to journalists upon his arrival in Baku, where he is expected to have several......

Turkish minister of state visits Baku Business Center

29.07.2010 | Readed: 784

Turkish State Minister for foreign trade Zafer Caglayan participated in an exhibition in Baku Business Center showing development of Azerbaijan's economy, social and cultural spheres. Mr. Caglayan also met with Azerbaijan's Minister of Economic Development Shahin Mustafayev to......

Baku to host Azerbaijan-Turkey business forum

28.07.2010 | Readed: 767

Azerbaijani and Turkish businessmen will come together in Baku Thursday for a joint forum. Turkey's State Minister Responsible for Foreign Trade Zafer Caglayan will lead a large delegation of businesspeople from a wide range of fields, including power engineering, food and......

Baku hosts 6th meeting of intergovernmental commission on Azerbaijan-Georgia economic cooperation

24.07.2010 | Readed: 819

On July 23rd the sixth meeting of intergovernmental commission on Azerbaijan-Georgia economic cooperation was held here. Prime Minister of Azerbaijan Artur Rasizade addressed the meeting highlighting relationship between the two countries. He underscored the role of the......


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