Economy

Baku hosts Azerbaijan-Switzerland forum

28.10.2011 | Readed: 989

On October 27th Azerbaijan-Switzerland business forum started in Baku as a part of the visit of Switzerland`s State Councilor in charge of the Department of Health and Economy Pierre-François Unger. The event brought together businessmen engaged in banking, industry, trade, health,......

Azerbaijan and IMF prepare adequate response to new global economic threats

25.10.2011 | Readed: 1038

Chairman of the Central Bank of Azerbaijan Elman Rustamov received Head of IMF mission for Azerbaijan Nadeem Ilahi on Monday. The sides have discussed macro-economic situation in Azerbaijan, money and course policy for 2012, measures for strengthening macroeconomic stability. Also adequate......

1st summit of Turkic-speaking states` business council held

21.10.2011 | Readed: 1020

On October 20th the Cooperation Council of Turkic-speaking States held its first ever business council meeting to discuss lifting barriers to trade. Attended by representatives of major organizations and companies in the Turkic-speaking states and delegations from the governments of......

Azerbaijani Parliament`s Speaker meets Ecuadorian Minister of Foreign Affairs, Trade and Integration

20.10.2011 | Readed: 1004

Speaker of the Azerbaijani Parliament, Ogtay Asadov met Ecuadorian Minister of Foreign Affairs, Trade and Integration Ricardo Armando Patino Aroca on Wednesday. Asadov said such visits would contribute to development of bilateral relationship. According to him, Azerbaijan is among those......

Baku hosts second Azerbaijan-Germany business forum (October 19th, 2011)

20.10.2011 | Readed: 960

The second Azerbaijan-Germany business forum was held Wednesday in Baku as part of the visit of chief of Bavarian State Ministry of Economy, Infrastructure, Transport and Technology`s department on international trade. The forum was co-organized by the Azerbaijan Export & Investment......

Austrian president meets Premier of Azerbaijan

13.10.2011 | Readed: 997

On October 12th, visiting President of Austria Heinz Fischer met with the Prime Minister of Azerbaijan Artur Rasizade. The Austrian president expressed pleasure with his visit to Azerbaijan. Assessing the talks with President Ilham Aliyev as highly positive, Mr. Fischer said he is......

Austrian minister visits State Oil Company of Azerbaijan

13.10.2011 | Readed: 989

On October 12th chief of Azerbaijan`s State Oil Company (SOCAR) Rovnag Abdullayev met with Austrian minister for economy, family and youth Reynhold Mitterlenher. Mr. Abdullayev said a visit of Austrian President Heinz Fischer to Azerbaijan will give a new impetus to development of......

Azerbaijani, Austrian businessmen meet in Baku

13.10.2011 | Readed: 983

On October 12th more than 260 business people from Azerbaijan and Austria came together in Baku to explore ways of building cooperation in a variety of fields, including agriculture, food industry, construction, consulting, ICT, finance, alternative energy and healthcare. The forum, held......

Baku hosts international conference on "Building bridges over borders"

11.10.2011 | Readed: 997

On October 10th an international conference titled "Building bridges over borders" co-organized by GUAM Parliamentary Assembly and Baltic Assembly started in Azerbaijani Parliament. Opening the meeting, head of Azerbaijani delegation to GUAM PA Elton Mammadov spoke of the importance of......

Azerbaijan, France sign memorandum of understanding

08.10.2011 | Readed: 981

On October 7th the Ministry of Economic Development of Azerbaijan and French Development Agency signed a memorandum of understanding on FIA Group`s operation in Azerbaijan, as part of official visit of French President Nicholas Sarkozy to Azerbaijan. The document was signed by......

Azerbaijan`s Premier meets participants of Council Meeting of International Congress of Industrialists and Entrepreneurs

07.10.2011 | Readed: 995

On October 6th Prime Minister of Azerbaijan Artur Rasizade received a group of participants of the Council Meeting of the International Congress of Industrialists and Entrepreneurs. Rasizade said development of entrepreneurship in Azerbaijan and creation of favorable business climate was......

Azerbaijan attends 6th KAZENERGY Eurasian Forum in Kazakhstan

07.10.2011 | Readed: 1021

A delegation led by President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev participated in the 6th Eurasian Forum "KAZERNERGY-2011" dedicated to the 20th anniversary of Kazakhstan`s independence in Astana. Abdullayev informed participants on cooperation of......

Investor`s Fair kicks off in Baku

05.10.2011 | Readed: 985

On October 4th An Investor`s Fair organized by the Azerbaijan Micro-finance Association (AMFA) started here. Representatives of micro-finance organizations and banks and the US ambassador to Azerbaijan Matthew Bryze are attending the fair. Issues of prevention of over-indebtedness......

Deputy PM: Azerbaijan attaches particular importance to developing cooperation with Russia

05.10.2011 | Readed: 1016

Azerbaijan`s deputy prime minister Yagub Eyyubov has said his country attaches a particular importance to developing cooperation with Russia. "We place a special emphasis on developing our cooperation with the Russian Federation, including its federal districts," Eyyubov told a Russian......

Azerbaijan, Belgium discuss development of bilateral relations

05.10.2011 | Readed: 1033

On October 4th Azerbaijan`s Minister of Foreign Affairs Elmar Mammadyarov met with the Director General of Bilateral Affairs at the Ministry of Foreign Affairs of Belgium Geert Muylle. The current state of bilateral relations was discussed in the meeting. The Belgian official was informed......

Statoil expresses intention to expand activity in Azerbaijan

05.10.2011 | Readed: 1007

Norwegian energy company Statoil`s officials have expressed their intention to expand their activity in Azerbaijan. Statoil's executive vice president Peter Melbye, Vice Chairperson Torgeir Kydland and President of Statoil in Azerbaijan Lars Troen Sorensen met Azeri Minister of......

EU to increase financing of Eastern Partnership

05.10.2011 | Readed: 960

The European Union plans to issue an additional 150 million euros to finance the Eastern Partnership project until 2014, Polish Foreign Minister Radoslaw Sikorski said. About 2 billion euros will be spent on realization of the project and 1.2 billion euros will be provided for bilateral......

GUAM Secretary General: "Azerbaijan`s presidency at GUAM will give impetus to development of cooperation in energy sector"

01.10.2011 | Readed: 937

"Azerbaijan, Georgia, Ukraine and Moldova agreed in Warsaw on expansion of cooperation with the European Union and develop energy projects," the minister of foreign affairs and European integration of Moldova Yuri Leanca said at the meeting of heads of the foreign ministries of GUAM held in......

Baku hosts 37th meeting of PABSEC Cultural, Educational and Social Affairs Committee

29.09.2011 | Readed: 1003

The 37th meeting of Parliamentary Assembly of Black Sea Economic Cooperation (PABSEC) Cultural, Educational and Social Affairs Committee has today started in Azerbaijan`s capital. Speaking in the meeting, member of Azerbaijani Parliament, deputy chairman of the PABSEC Committee Jale......

CEIBC members meet US Ambassador

29.09.2011 | Readed: 971

Members of the Caspian-European Integration Business Club (CEIBC) met with the US Ambassador to Azerbaijan Matthew Bryza. CEIBC president and chief executive director Telman Aliyev provided information on activity of the organization. He noted that CEIBC which was established in 2002......

Azeri minister addresses Summer Davos in China

16.09.2011 | Readed: 961

Azerbaijan`s minister of information and communication technologies Ali Abbasov has addressed the Annual Meeting of the New Champions, the "Summer Davos", in Dalian, China. The minister highlighted Azerbaijan`s ICT achievements. Abbasov said development of information technologies was......

Azerbaijan, Latvia discuss migration cooperation

14.09.2011 | Readed: 987

Chief of the Azerbaijan State Migration Service Arzu Rahimov was in Latvia from September 5 to 10 at the invitation of the Latvian Interior Ministry. During the trip, the Azeri Chief Migration Officer had a number of meetings in Latvia. Rahimov and head of the Latvian Interior......

International conference on custom electronic services kicks off in Baku

13.09.2011 | Readed: 982

The 3rd international scientific and practical conference on custom electronic services strated in Baku. The co-oganizers of the event are the State Customs Committee of Azerbaijan and the Russian Federal Customs Service. The conference brings together nearly 200 delegations from 25......

SOCAR holds press conference on discovery of gas deposit on Absheron block

13.09.2011 | Readed: 943

The State Oil Company of Azerbaijan Republic, SOCAR held press conference on discovery of new gas deposit on the Absheron block at the Azerbaijan sector of the Caspian Sea. Vice-president of SOCAR, academician Khoshbakht Yusifzade informed the media representatives on the deposit, answered......

Azerbaijan ranks 55th in Global Competitiveness Report

08.09.2011 | Readed: 1005

Azerbaijan ranked 55th in the overall rankings in the Global Competitiveness Report. The Global Competitiveness Report 2011-2012, comes out amid multiple challenges to the global economy and a continuing shift in the balance of economic activity away from advanced economies and toward......

Azerbaijan to be represented at China-Eurasia exhibition

02.09.2011 | Readed: 968

Azerbaijan will be represented at the China-Eurasia exhibition from September1 to 5, due in Urumchi, Beijing. The aim of the event is expansion of economic cooperation between China and other countries in the Eurasian region, study investment opportunities, to exchange ideas related to......

Sangachal Terminal exports about 154.5 million barrels of oil

26.08.2011 | Readed: 1054

Oil and gas from ACG and Shah Deniz continue to flow via subsea pipelines to the Sangachal terminal. The capacity of the terminal's overall processing systems is currently 1.2 million barrels of oil and 25.5 million cubic metres of Shah Deniz gas per day (about 39.5 million cubic......

Azerbaijan draws Korean consultants for preparation of Industrial Development Program

23.08.2011 | Readed: 953

The Korea International Cooperation Agency (KOICA) has started providing consulting assistance to Industry and Energy Ministry of Azerbaijan as part of the World Friendship Consulting programme for the development of non-oil sector of the Azerbaijan economy. The Ministry reports that......

Astrakhan-Azerbaijan trade grew 14-fold in first half of 2011

21.08.2011 | Readed: 1000

Trade between Russia`s Astrakhan region and Azerbaijan saw a 14-fold increase in the first half of 2011 as compared to the same period last year, according to Astrakhan`s Ministry of International and Foreign Economic Relations. "The Astrakhan-Azerbaijan trade reached 8.3 million US......

German ambassador: Azerbaijan is one of our major oil suppliers

21.08.2011 | Readed: 972

Germany`s ambassador in Baku Herbert Quelle has said Azerbaijan is one of his country`s major oil suppliers. "Azerbaijan is seventh among main suppliers of oil to Germany," he noted. The ambassador said Germany exported 700 million euros worth goods, in particular vehicles, to......

"Azerbaijan is one of the strongest performing economies in the post-Soviet space", The Guardian

19.08.2011 | Readed: 1038

The Guardian, a British national daily newspaper has published an article titled "End of the USSR: visualizing how the former Soviet countries are doing, 20 years on". The article focuses on key data concerning the economic situation in former USSR republics two decades since the Soviet Union......

Caspian states sign protocol to prevent oil spills

14.08.2011 | Readed: 1044

Official representatives of Caspian states (Azerbaijan, Russia, Kazakhstan, Turkmenistan and Iran) in Aktau, Kazakhstan, have signed protocol on regional readiness, response and cooperation in case of incidents causing oil pollution. The protocol was signed as part of the third session of......

Azerbaijan and US boost customs cooperation

14.08.2011 | Readed: 1027

Chairman of Azerbaijan`s State Customs Comittee, lieutenant-general Aydin Aliyev met US ambassador Mattew Bryza. Mr. Aliyev said the relations between Azerbaijan and US were rapidly deloping in all spheres. He briefed on activity of the state customs service, which is to turn 20 next year.......

Azerbaijan, Dominica discuss bilateral relations

11.08.2011 | Readed: 954

On August 10th Azerbaijan`s Premier Artur Rasizade met with Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica. Skerrit expressed assurance the current visit would give a push to future development of bilateral relations, adding there is enormous potential for development......

SOFAZ`s assets to reach over 100 billion dollars

09.08.2011 | Readed: 1000

Budget revenues of Azerbaijan`s State Oil Fund (SOFAZ) for the period of January-June, 2011 reached 7827.2 million manats, while budget expenditures constituted 2593.1 mln manats. Revenue of 7692.2 mln manats for the period of January-June, 2011 was received from implementation of oil and......

US magazine publishes article on Azerbaijan`s importance in Nabucco pipeline project

03.08.2011 | Readed: 1022

The United State`s magazine "Wall Street Journal" has published an article on Azerbaijan`s role in Nabucco pipeline. The article says: "Two decades after Azerbaijan emerged from the Soviet Union and began striking oil deals with Western companies, it faces vital decisions on its plans......

"The Business Year" journal`s special edition on Azerbaijan presented

30.07.2011 | Readed: 986

A special edition of "The Business Year" journal dedicated to the 20th anniversary of Azerbaijan`s independence was presented yesterday. Head of the Azerbaijan President Administration`s socio-political department Ali Hasanov linked the edition to the fact that Azerbaijan has been the......

New business aviation terminal opened for use in Azerbaijan

29.07.2011 | Readed: 1020

A region`s new second-to-none business aviation terminal has opened its doors today in Azerbaijan. The first flight was organized to Italy. Silk Way Business Aviation Company is an owner of the terminal. The terminal houses large hall, family rooms and business center, rooms for......

Azeri top diplomat meets GUAM Secretary General

23.07.2011 | Readed: 912

Foreign Minister of Azerbaijan Elmar Mammadyarov met GUAM Secretary General Valeri Chechelashvili. The talks focused on the current state of relations, prospects for cooperation in economic, humanitarian, tourism, transport and other spheres, as well as GUAM`s relationship with......

Azerbaijan, Germany discuss cooperation at the Cabinet of Ministers of the Azerbaijan

22.07.2011 | Readed: 982

A meeting with German delegation was held at the Cabinet of Ministers of the Azerbaijan. The meeting co-chaired by Azerbaijan deputy Prime Minister Abid Sharifov and chief of division of German Federal Ministry of Economic Cooperation and Development Friedel Eggelmeyer discussed......

Azerbaijan, China mull trade and economic cooperation in Baku

19.07.2011 | Readed: 995

The 4th meeting of Azerbaijan-China commission on trade and economic cooperation started here. The meeting co-chaired by Azerbaijan deputy Prime Minister Abid Sharifov and Chinese vice-Minister of Commerce Zhong Shan will discuss economic cooperation and expansion of relations between the......

ITGI fully meets Azerbaijan's strategic interests

16.07.2011 | Readed: 980

The Interconnector Turkey-Greece-Italy (ITGI) gas pipeline creates the most real opportunity for export of Azerbaijani gas to Europe. The statement came from president of Greek Depa Harris Sachinis, visiting Baku. He said ‘ITGI fully meets the strategic interests of......


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