Economy

SOCAR, RWE Dea to study hydrocarbon prospectivity in Caspian Sea

07.05.2014 | Readed: 3123

The State Oil Company of the Azerbaijan Republic (SOCAR) and German RWE Dea have signed a Joint Study Agreement that will see the two companies evaluate the hydrocarbon prospectivity in an area south of Baku in the Caspian Sea in close......

Azerbaijani government, ADB sign agreement on 4th tranche of Road MFF 2007

06.05.2014 | Readed: 2773

On May 5th Azerbaijan and the Asian Development Bank (ADB) signed a loan agreement on the 4th tranche of Multi-Tranche Financing Facility (MFF) of Road Network Development Program. The deal was inked by finance minister of......

SOCAR Vice-President: We are committed to supplying gas to EU

03.05.2014 | Readed: 2235

Vice-President of Azerbaijan`s State Oil Company (SOCAR) Elshad Nasirov has expressed the country`s commitment to boost the European Union`s gas supply as he was interviewed by CNN. He touched upon the Southern Gas Corridor......

Azerbaijani, Spanish businessmen come together in Baku

25.04.2014 | Readed: 2425

On April 24th an Azerbaijani-Spanish business forum started in Baku. Organized by the Azerbaijani export and investment promotion foundation, AZPROMO, the event brings together businessmen from a wide range of fields of......

Azerbaijan, Spain discuss prospects for cooperation

25.04.2014 | Readed: 1936

On April 24th Azerbaijani Minister of Economy and Industry met a delegation led by Minister of Foreign Affairs and Cooperation of the Kingdom of Spain Jose Manuel Garcia-Margallo to discuss prospects for cooperation between the two......

SOFAZ Supervisory Board holds next meeting

25.04.2014 | Readed: 1770

A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was held on April 24. The meeting, chaired by Prime Minister of Azerbaijan and Chairman of the Supervisory Board Artur Rasizadeh,......

1st International Caspian Energy Forum–2014 starts in Baku

24.04.2014 | Readed: 1814

On April 23rd, the 1st International Caspian Energy Forum–2014 kicked off in Baku. Organized by the Caspian Energy International Media Group, the forum brings together 300 delegates from 50 countries. The forum is......

Azerbaijan-Cambodia business forum held in Baku

23.04.2014 | Readed: 1568

An Azerbaijan-Cambodia business forum has been held in Baku. Organized by Azerbaijan`s Economy and Industry Ministry in partnership with AZPROMO, the forum brought together......

Azerbaijan Chamber of Auditors, Georgian Federation of Professional Accountants and Auditors sign MoU

17.04.2014 | Readed: 1752

On April 16th Azerbaijan Chamber of Auditors and the Georgian Federation of Professional Accountants and Auditors (GFPAA) signed an agreement on Mutual Understanding. Speaking to the signing ceremony, which took place in Baku,......

Azerbaijan presents audit service development concept

12.04.2014 | Readed: 1939

On April 11th Azerbaijan presented its Concept of Development of the Audit Service for the years 2012-2020. The concept was developed in accordance with 2012-2015 National Anti-Corruption Action......

New major contracts signed as part of Shah Deniz project

11.04.2014 | Readed: 1974

The consortium for the development of the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea has signed a contract with the consortium consisting of BOS......

Baku hosts Azerbaijan-Montenegro business meeting

07.04.2014 | Readed: 2085

Supported by Azerbaijan`s Ministry of Economy and Industry, an Azerbaijan-Montenegro business meeting has been held in Baku. The event, organized by the Azerbaijan Export & Investment Promotion Foundation (AZPROMO), brought......

Azerbaijan-Russia business forum kicks off in Baku

04.04.2014 | Readed: 2036

On April 3rd an Azerbaijan-Russia business forum kicked off in Baku as part of a visit by Deputy Chairman of the Government of Stavropol Region Andrey Murga. Organized by Azerbaijan Export and Investment Promotion......

Azerbaijan, Germany eye economic cooperation

31.03.2014 | Readed: 2010

Head of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov has met Chairman of the German-Azerbaijani Forum Hans Eberhard Schleyer and his accompanying delegation. They discussed how to boost......

Baku hosts Azerbaijan-Russia business forum

14.03.2014 | Readed: 2737

On March 13th Azerbaijani and Russian businessmen came together in Baku for a business forum. Organized by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), the forum......

“2020 & Beyond: Accelerating Economic Development” Azerbaijan Investment Summit kicks off

13.03.2014 | Readed: 2397

On March 12th an Azerbaijani Investment Summit themed “2020 & Beyond: Accelerating Economic Development” commenced in capital Baku. The summit has assembled an international audience......

Changes will be made to SOFAZ budget, Executive Director

13.03.2014 | Readed: 2281

Some changes will be made to the budget of the State Oil Fund of the Azerbaijan Republic (SOFAZ), its Executive Director Shahmar Movsumov has told journalists. “A total of $51m will be spent to......

Round table on “Shahdeniz-2” and “Southern Gas Corridor” held in Washington

06.03.2014 | Readed: 2342

On March 4th a round table titled “Shahdeniz-2” and “Southern Gas Corridor” was held at the Center for Strategic and International Studies (CSIS), in Washington, the U.S. The event was moderated by senior......

Baku-Tbilisi-Kars Railway Project Coordination Council convenes in Baku

25.02.2014 | Readed: 2200

The 18th meeting of the Baku-Tbilisi-Kars Railway Project Coordination Council has started in Baku. The meeting was co-chaired by Azerbaijani Transport Minister Ziya Mammadov and Georgian Vice-Prime......

“Tax system of Azerbaijan: realities and prospects” forum starts in Baku

07.02.2014 | Readed: 2864

On February 6th, the 3rd tax forum kicked off in Baku. Titled “Tax system of Azerbaijan: realities and prospects”, the 2-day event brings together representatives of international organizations and NGOs, as well as banks employees, businessmen and......

Azerbaijan, EU discuss energy cooperation

01.02.2014 | Readed: 2740

Azerbaijan`s Minister of Energy Natig Aliyev has met head of the European Union Delegation to the country Malena Mard to discuss energy cooperation. They commended the progress of relations between Azerbaijan and the European......

SOFAZ Revenue and Expenditure Statement for January-December 2013

29.01.2014 | Readed: 2763

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2013 reached 13 600.5 million manats, while budget expenditures constituted 12 302.7 million manats. Revenue of 13......

Azerbaijan-Hungary business forum kicks off in Baku

28.01.2014 | Readed: 2632

On January 27th an Azerbaijani-Hungarian business forum has started in Baku as part of a visit of Hungarian State Secretary for Foreign Affairs and External Economic Relations Peter Szijjarto. The event, co-organized by the......

Davos hosts Night of Azerbaijan under motto “SOCAR - Energy of Azerbaijan”

24.01.2014 | Readed: 1981

On January 22th the Night of Azerbaijan under the motto “SOCAR - Energy of Azerbaijan” was held in Davos. The Night of Azerbaijan was organized in Davos for the third time. The goal of the event is to promote......

WCO regional conference kicks off in Baku

23.01.2014 | Readed: 1590

On January 22nd the 1st regional conference of the European Heads of National Training Centers of the World Customs Organization (WCO) kicked off in Baku. Addressing the event, chairman of Azerbaijan State Customs Committee,......

Azerbaijani Minister of Agriculture attends 6th Berlin Agriculture Ministers' Summit

22.01.2014 | Readed: 1418

Azerbaijan`s Minister of Agriculture Heydar Asadov attended the 6th Berlin Agriculture Ministers' Summit. With over 1.500 participants, among them 72 Ministers from around the world this year, the GFFA is a unique political......

TAP and Interconnector Greece-Bulgaria Sign Memorandum of Understanding on Technical Cooperation

09.01.2014 | Readed: 1733

The Trans Adriatic Pipeline AG (TAP) and Interconnector Greece-Bulgaria (ICGB), the company in charge of the development, financing and construction of the Interconnector Greece-Bulgaria (IGB), have signed a memorandum of understanding......

New contract on Shah Deniz-2 project signed

29.12.2013 | Readed: 2139

The Shah Deniz partnership has awarded its next major contract for Stage 2 development of the Shah Deniz gas field in the Caspian Sea, BP reported. The contract for provision of detailed engineering, project management and procurement support services for the Shah Deniz......

US magazine “Foreign Affairs”: Gas politics after Ukraine. Azerbaijan, Shah Deniz, and Europe's newest energy partner

19.12.2013 | Readed: 2729

The US magazine “Foreign Affairs” has issued an article titled “Gas politics after Ukraine. Azerbaijan, Shah Deniz, and Europe's newest energy partner” by Professor Brenda Shaffer. The article says that this week, EU leaders signed a deal with......

“AtaBank” OJSС started “New Year, New Chance” competition on its’ facebook page

16.12.2013 | Readed: 2806

“AtaBank” OJSC is launching a new gift campaign “New Year, New Chance” on its’ Facebook page from......

Azerbaijani State Maritime Administration takes part in IMO meeting

06.12.2013 | Readed: 2890

A delegation of the Azerbaijani State Maritime Administration took part in the 28th meeting of the International Maritime Organization in London. The International Maritime Organization's (IMO) Maritime Safety Committee discussed ways to improve mandatory......

Istanbul hosts Caspian Forum

06.12.2013 | Readed: 2507

The 3rd Caspian Forum has started in Istanbul, Turkey bringing together senior officials, representatives of companies and leading experts from 35 countries. The Forum was organized by the Caspian Strategy Institute (HASEN) with the support of SOCAR, BP and......

Azerbaijan, China ink cooperation deal

06.12.2013 | Readed: 1900

On December 5th Azerbaijan and China signed an agreement on cooperation that will see the Chinese government allocate a $4.477.611mln grant to Azerbaijan with the aim of expanding friendly, and technical and economic bonds between the two countries. Under......

BakuTel 2013 exhibition kicks off in Azerbaijan`s capital

03.12.2013 | Readed: 2503

On December 2nd Bakutel 2013, the largest telecommunication and information technology exhibition in the Caucasus and Caspian region opened in Baku. The exhibition has become the most important platform for the display of achievements in the high technology......

“Global Cyber Security Cooperation: Challenges and Visions” conference kicks off in Baku

03.12.2013 | Readed: 2121

On December 2nd a conference titled “Global Cyber Security Cooperation: Challenges and Visions” started in Baku as part of BakuTel 2013, 19th Azerbaijan International Telecommunications and Information Technologies Exhibition. The conference, organized......

Titan the Robot in Azerbaijan for first time among CIS countries

03.12.2013 | Readed: 2284

Azerbaijan was the first country in the CIS to host Titan the Robot, an entertainment concept utilised by event management companies worldwide, when it was presented at the Bakutel 2013, the largest telecommunication and IT exhibition in the Caspian......

Azerbaijani, German governments ink financial cooperation agreement

29.11.2013 | Readed: 1627

The governments of Azerbaijani and Germany have signed an “Agreement on Financial Cooperation on the projects agreed in 2008-2012”, said the Azerbaijani Ministry of Finance. Under the agreement signed by Azerbaijani Finance Minister Samir Sharifov and......

21st Meeting of Council of Ministers of Economic Cooperation Organization held in Tehran

27.11.2013 | Readed: 1668

The 21st meeting of the Council of Ministers of the Economic Cooperation Organization (ECO) was held in Tehran on November 26th. Azerbaijani Minister of Foreign Affairs Elmar Mammadyarov noted in his opening remarks that the Presidency of the ECO Council of......

Regular meeting of Working Group on Qazvin – Resht – Astara (Iran) – Astara (Azerbaijan) project kicks off

19.11.2013 | Readed: 5021

The discussion on the railway project Qazvin–Resht– Astara (Iran)–Astara (Azerbaijan), the segment of the North-South transportation corridor, has become more active as the second working-group meeting started today in Iran’s city of Enzeli. At the......

Silk Road countries international customs forum kicks off in Gabala

15.11.2013 | Readed: 4444

The 6th International Forum on the Role of Customs Administrations in Promoting and Facilitating Trade among Silk Road Countries has kicked off in Gabala, Azerbaijan. The forum brings together customs officials from Azerbaijan, Turkey, Bulgaria, Kazakhstan,......

Round table “Current situation in usage of alternative and renewable energy sources: achievements, targets” held within Baku International Humanitarian Forum

02.11.2013 | Readed: 5949

A round table on “Current situation in usage of alternative and renewable energy sources: achievements, targets” has been held in the State Agency for Alternative and Renewable Energy Sources within Baku International Humanitarian Forum. Chairman of......

SOFAZ hosts conference “10 years of Azerbaijan in EITI. From history to new stage”

27.09.2013 | Readed: 4094

On September 26th The State Oil Fund of the Republic of Azerbaijan (SOFAZ) hosted an international conference titled “10 years of Azerbaijan in EITI. From history to new stage” devoted to the 10th anniversary of the Extractive Industries Transparency Initiative......


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