Economy

Azeri Premier meets Adb`s Vice-President

18.09.2010 | Readed: 862

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: 871

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: 785

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: 877

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: 802

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: 818

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: 821

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: 790

"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: 798

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: 850

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: 789

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: 810

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: 856

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: 851

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: 832

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: 828

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: 862

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......

Baku hosts 11th Azerbaijan-Germany business forum

20.07.2010 | Readed: 815

The 11th Azerbaijan-Germany business forum organized by Azerbaijan Economic Development Ministry, Azerbaijan Investments and Export Promotion Foundation (AzPROMO) and Germany-Azerbaijan Economic Union started in Baku. The event brought together officials and about 50 businessmen engaged in......

Turkey, Azerbaijan sign protocol of intent on construction of Turkey-Azerbaijan's NAR gas pipeline

20.07.2010 | Readed: 813

The State Oil Company of Azerbaijan (SOCAR) and Turkey's Botas company signed a protocol of intent on construction of the gas pipeline from Turkey to Azerbaijan's Nakhchivan Autonomous Republic (NAR). The document was signed by SOCAR President Rovnag Abdullayev and Chairman of......

Azerbaijan and Egypt boost oil and gas cooperation

08.07.2010 | Readed: 837

Azerbaijan's Minister of Industry and Energy Natig Aliyev met Oil Minister of Egypt Amin Sameh Fahmi to discuss cooperation in oil and gas sector. Mr. Aliyev said Azerbaijan is to keen to expand relations with Egypt in energy sphere. Mr. Fahmi hailed his meeting with Azerbaijan......

SOCAR wins SAP CIS Quality Award

03.07.2010 | Readed: 863

The State Oil Company of Azerbaijan has become a SAP CIS Quality Award 2010 Gold winner for its achievement in the successful software implementations. The awarding ceremony took place June 2 at the SAP's headquarters. SAP manager for business development in Central and Eastern......

Azerbaijan-Turkey gas agreement ‘opens good opportunities' to attract European companies to Azerbaijan's energy sector

01.07.2010 | Readed: 817

The European Union's special representative for South Caucasus Peter Semneby has praised a gas agreement between Azerbaijan and Turkey, saying its was of particular importance for Azerbaijan. Speaking to journalists in Baku, Semneby said the agreement opened good opportunities to......

Azeri Premier meets Syrian Minister of Petroleum and Mineral Resources

01.07.2010 | Readed: 792

Prime Minister of Azerbaijan Artur Rasizade met Syrian delegation led by Minister of Petroleum and Mineral Resources and co-chairman of a Syria-Azerbaijan intergovernmental commission Sufian Allaw on June 30th. Rasizade described Syria as a "friendly and fraternal country" for......

UNIDO`S Director general visits Azerbaijan Diplomatic Academy

01.07.2010 | Readed: 803

Director General of UN Industrial Development Organization Kandeh K. Yumkella delivered report on global development trends at Azerbaijan Diplomatic Academy. Mr. Yumkella said needs in energy permanently grow, and population rapidly increases, in particular in Africa and Asia. UN......

Baku hosts 5th General Assembly of International Islamic Trade Finance Corporation

25.06.2010 | Readed: 809

The 5th General Assembly of the International Islamic Trade Finance Corporation has been held in Azerbaijan's capital. The meeting discussed the Corporation's annual report for the fiscal year 2009, and approved several audited financial reports. The participants also......

Baku meeting to Develop Road Map for Enhancing Intra-OIC Trade ends

23.06.2010 | Readed: 828

The Baku Meeting to Develop the Road Map for Enhancing Intra-OIC Trade has wrapped up. On the second day of the event, held as part of the 35th Annual Meeting of the Islamic Development Bank, participants discussed a road map that would further develop cooperation between IDB member......

Azerbaijani Premier meets IFAD chief

23.06.2010 | Readed: 786

Prime Minister of Azerbaijan Artur Rasizade met President of International Fund for Agricultural Development (IFAD) Kanayo Nwanze. The two praised current level of agricultural cooperation between the country and the organization. They noted IFAD had "successfully" implemented two......

GE Supports Oil and Gas Growth in Caspian Sea Region with New $6M Services Facility in Azerbaijan

22.06.2010 | Readed: 1898

New Global Services Center to Provide Enhanced Drilling & Production Capabilities BAKU, AZERBAIJAN - June 21, 2010 - Expanding its support for oil and gas producers that play a vital role in the economic growth of the Caspian Sea......

IDB President: I hope Azerbaijan will deepen cooperation with IDB member-countries

20.06.2010 | Readed: 845

President of the Islamic Development Bank, IDB, Ahmed Mohammed Ali, who arrived in Baku to attend the 35th annual meeting of IDB Board of Directors, has expressed hope the gathering will create an opportunity for Azerbaijan to further boost cooperation with IDB member-nations. In an......

World Bank and IMF Confirm Azerbaijan escapes impact of global crisis

19.06.2010 | Readed: 910

Johns Hopkins University's Central-Asia and Caucasus Institute hosted a conference "Impact of the global financial crisis on the Central Asian and Caucasus countries" The conference was attended by leading specialists of the International Monetary Fund and World Bank, US economic......

Baku hosts international seminar on copyright and creative industries

11.06.2010 | Readed: 784

An international seminar titled "Copyright and economic significance of creative industries" kicked off in Azerbaijan`s capital on June 10th. The seminar is co-organized by the Azerbaijan Copyright Agency and World Intellectual Property Organization. The event was opened......

Finland's Wartsila offers its services in Azerbaijan

10.06.2010 | Readed: 908

Vice-President of Finnish energy manufacturer Wartsila Christophe Vitzthum met with Azeri Deputy Minister of Industry and Energy Natig Abbasov to hold presentation on the company's solutions and services. Addressing the meeting, Azeri Deputy Minister of Industry and Energy Natig......

Energy ministers of Turkey and Azerbaijan hold press conference

08.06.2010 | Readed: 788

Turkey`s Energy and Natural Resources Minister Taner Yildiz and Azerbaijan Minister of Industry and Energy Natig Aliyev gave a press conference after the energy agreement was signed between Turkey and Azerbaijan in Ciragan Palace of Istanbul. Mr. Yildiz said: "Eight meetings were held to......

Daily oil production in Azerbaijan hits record high of 1 million barrels in 2009

05.06.2010 | Readed: 796

Azerbaijan posted a record oil production of 1 million barrels a day last year, SOCAR President Rovnag Abdullayev said at the Caspian Oil and Gas conference. Exploration, drilling, construction and production work carried out together with foreign oil firms produced good results. Overall......

Baku hosts Azerbaijan-Belarus intergovernmental commission's meeting

03.06.2010 | Readed: 805

On June 2nd the 6th meeting of an Azerbaijan-Belarus intergovernmental commission on trade and economic cooperation was held in Baku. Vice-Premiers Yagub Eyyubov of Azerbaijan and Andrey Kobyakov of Belarus chaired the meeting. The meeting featured discussions on what had been done......

Center for Strategic Studies hosts ‘roundtable' on US energy policy in South Caucasus and Caspian region

03.06.2010 | Readed: 759

The Center for Strategic Studies under the Azerbaijani President has today hosted a roundtable meeting on "U.S. energy policy in the South Caucasus and Caspian region". Special Envoy of the United States Secretary of State for Eurasian Energy Richard Morningstar made a presentation at......

Baku hosts international conference as part of 17th International Caspian Oil & Gas Exhibition

03.06.2010 | Readed: 777

An international conference called "European geopolitics of energy and the role of Azerbaijan" started in Baku yesterday as part of the 17th International Caspian Oil & Gas Exhibition and Incorporating Refining and Petrochemicals. The event was opened by ITE Group PLC senior advisor......

International oil and gas conference kicks off in Baku

02.06.2010 | Readed: 754

The 17th international oil and gas conference has started. The conference`s session "Europe`s energy geopolitics and role of Azerbaijan" was addressed by Minister of Industry and Energy Natig Aliyev, Senior advisor of the ITE Group PLC Andrew Wood, US Secretary of State`s Special Envoy......

Vilnius hosts Azerbaijan-Lithuania Intergovernmental Commission meeting

27.05.2010 | Readed: 723

A first meeting of an Azerbaijan-Lithuania Intergovernmental Commission on Economic Cooperation has today been held in Vilnius. Azerbaijan`s Taxes Minister Fazil Mammadov and Lithuanian Foreign Minister Audronius Azubalis co-chaired the event. The meeting featured discussions on......

Oil pipelines haul 15. 6 mln tons, gas pipelines 6.4 bln cubic metres in january-april

20.05.2010 | Readed: 662

Oil pipelines transported 15.6 mln tons in Azerbaijan, while gas pipelines 6.4 bln cubic metres in January-April, State Statistics Committee reports. Of the overall volume, oil transportation via Baku-Tbilisi-Ceyhan main export pipeline accounted for 76. 3......

BP-Azerbaijan produces 72 million barrels of oil from ACG in first quarter

18.05.2010 | Readed: 694

"BP-Azerbaijan" Company produced 72 million barrels or 9.7 m tons of oil from Azeri-Chirag-Gunashli (ACG) field during the first quarter of 2010, the company`s press-service said. Daily production from ACG makes up 797, 300 barrels. The company forecasts......

Azerbaijan discloses 12th EITI report

15.05.2010 | Readed: 715

The meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on Friday. Azerbaijan has instituted a regular process of disclosing, reconciling and publishing company payments......


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