Economy

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

29.09.2011 | Readed: 1014

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: 980

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: 972

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: 999

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: 994

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: 957

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: 1016

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: 978

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: 1067

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: 965

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: 1012

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: 985

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: 1051

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: 1062

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: 1040

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: 970

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: 1019

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: 1036

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: 993

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: 1028

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: 926

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: 994

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: 1004

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: 993

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......

First trade and economic meeting between Azerbaijan and China held in Baku

12.07.2011 | Readed: 974

The First meeting of the working group on trade and economy between Azerbaijan and the Xinjiang Uygur Autonomous Region, People`s Republic of China (PRC) was held in Azerbaijan`s capital. Speaking in the meeting, Azeri Deputy Minister of Economic Development Niyazi Safarov briefed the......

Belarusian Prime Minister embarks on official Azerbaijan visit

08.07.2011 | Readed: 961

Prime Minister of Belarus Mikhail Myasnikovich has kicked off an official visit to Azerbaijan. Belarusian Prime Minister was welcomed at the Ganja International Airport. Myasnikovich started his visit by laying flowers at the monument to national leader Heydar Aliyev in the city......

Second Azerbaijan International Insurance Forum kicks off in Baku

08.07.2011 | Readed: 976

The second Azerbaijan International Insurance Forum (AIIF 2011) started here on July 7th. The two-day Forum, organized by Azerbaijan Insurers Association (ASA) and Ministry of Finance, has brought together representatives of insurance companies of Europe and CIS member states.......

Rome hosts 2nd meeting of Azerbaijan-Italian intergovernmental commission

07.07.2011 | Readed: 995

The second meeting of Azerbaijan-Italian intergovernmental commission for economic cooperation has been held in Rome, Italy. The meeting was co-chaired by Azerbaijan`s Industry and Energy Minister Natig Aliyev and Italian Deputy Foreign Minister Alfredo Mantica. The event focused on......

Azeri Premier meets director general of customs service of Argentina

01.07.2011 | Readed: 1083

On June 30th Prime Minister of Azerbaijan Artur Rasizade met Mrs. Maria Siomara Ayeran, director general of customs service of Argentina. Mrs. Maria Siomara Ayeran said she was honored to be in Azerbaijan which is the most developed country in the region. She praised the level of......

Azerbaijan Diplomatic Academy to organize summer energy school

01.07.2011 | Readed: 989

The 5th Baku Summer Energy School will be co-organized by Azerbaijan Diplomatic Academy (ADA) and State Oil Company of Azerbaijan Republic (SOCAR) on July 2 -16. SOCAR, the Ministry of Environment and Natural Resources, the Ministry of Industry and Energy, as well as representatives of......

Azerbaijani Akkord, French Bouyges companies sign MOU

30.06.2011 | Readed: 1169

The Azerbaijani Akkord and French Bouygues Travaux Publics companies have signed a Memorandum of Understanding, which involves cooperation between the parties in the infrastructural projects in Azerbaijan, including the laying of new lines and Baku metro stations. The memorandum was signed......

Azerbaijan, Argentina discuss customs cooperation

29.06.2011 | Readed: 1008

Chairman of Azerbaijan`s State Customs Committee Aydin Aliyev met Maria Siomara Ayeran, general director of customs service of Argentina. Aliyev expressed satisfaction with strengthening of customs relations between the two countries. He recalled that Azerbaijan and Argentina signed......

Azerbaijan`s oil reserves make 2bn tons

21.06.2011 | Readed: 991

Azerbaijan`s confirmed oil reserves are estimated at 2 billion tons, said first vice president of the country`s state oil firm, SOCAR, Khoshbaxt Yusifzade. He said the country`s confirmed gas reserves are estimated at 3.8 trillion cubic meters. "So far more than 36 billion US......

Azerbaijan`s customs chief participates in CIS meeting

19.06.2011 | Readed: 994

The Azerbaijani delegation led by chairman of the Azerbaijan`s State Customs Committee Aydin Aliyev attended the 53rd meeting of the Council of Heads of Customs Services of CIS member states in the Russian city of Irkutsk. The event featured the information about the follow-up to the......

Shahdaniz-2 to help increase gas production to 25bn cm, SOCAR

19.06.2011 | Readed: 1007

First vice-president of Azerbaijan`s state oil firm, SOCAR, Khoshbakht Yusifzade has said the implementation of the Shahdaniz-2 project will help to increase the country`s gas production to 25 billion cubic meters per year. "Currently the Shahdaniz field produces 9 billion cubic meters of......

World Bank, Azerbaijan`s State Customs Committee discuss cooperation prospects

19.06.2011 | Readed: 977

Chairman of Azerbaijan`s State Customs Committee Aydin Aliyev has met with World Bank`s (WB) Country Manager Joseph M. Owen to discuss prospects for relevant cooperation. Aliyev described "The State Program of the Customs System of Azerbaijan Republic for 2007-2011" as an important stage......

Azeri FM in Spain for official visit

17.06.2011 | Readed: 971

Azerbaijan`s Foreign Minister Elmar Mammadyarov is in Spain for an official visit. The Azeri minister gave interview to Spain`s El Mundo newspaper as part of his visit to Spain. He spoke of relations between two countries and development of prospects of these relations. Mammadyarov......

Abu Dhabi Fund for Development finances power station construction in Azerbaijan

15.06.2011 | Readed: 977

Finance Minister of Azerbaijan Samir Sharifov, on behalf of the government of Azerbaijan, and Director General of the Abu Dhabi Fund for Development Mohammed Saif Al Suwaidi signed a loan agreement here on Wednesday to finance the Cenub project. The Abu Dhabi Fund will set aside $60 mln to build......

United States highly value achievements of Azerbaijan and development of Shakhdeniz, ambassador of United States Matthew Bryza

11.06.2011 | Readed: 1081

The United States highly value progress achieved by Azerbaijan last year and achievements of a consortium developing Shakhdeniz field in partnership with foreign companies, ambassador of United States Matthew Bryza said. The ambassador said that debates over gas sale rates are approaching......

18th Caspian Oil & Gas Conference Incorporating Refining & Petrochemicals kicks off in Baku

09.06.2011 | Readed: 963

18th Caspian Oil & Gas Conference Incorporating Refining & Petrochemicals kicked off in Azerbaijan`s capital bringing together 500 representatives from different countries. The first session was dedicated to ensuring energy security and market integration. It heard a report by......

Norway`s Crown Prince: Azerbaijan rationally uses its oil reserves

09.06.2011 | Readed: 1005

Haakon, Crown Prince of Norway, has said Azerbaijan rationally uses it oil reserves. Speaking to a pres conference on the outcomes of his two-day visit to Baku, he noted: "A sharp fall in the poverty level in Azerbaijan in the last 10 years proves that the country`s oil reserves are......

Southern Corridor project becoming a reality, U.S. Ambassador Matthew Bryza

09.06.2011 | Readed: 1003

{nl}"Today`s discussions prove that Southern corridor project is becoming a reality thanks to both sides` efforts", ambassador of the United States Matthew Bryza stated at the evening reception organized by the embassies of the United States and UK in Azerbaijan prior to the 18th......


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