Economy

Fluor Selected as Project Management Contractor for OGPC Project of SOCAR

31.03.2015 | Readed: 2144

The State Oil Company of Azerbaijan Republic (SOCAR), as a result of the bidding process, awarded Fluor Limited a contract to provide project management contractor......

Fitch Affirms Azerbaijan at 'BBB-'; Outlook Stable

14.03.2015 | Readed: 2116

Fitch Ratings has affirmed Azerbaijan's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB-'. The Outlooks are Stable. The issue ratings on......

Azerbaijan, US discuss how to expand bilateral cooperation

06.03.2015 | Readed: 2129

On March 5th, Azerbaijan`s Minister of Finance, co-chair of the Azerbaijan-US Intergovernmental Commission on economic cooperation Samir Sharifov met newly appointed U.S. Ambassador to the country Robert......

Baku hosts Azerbaijan-Czech business forum

04.03.2015 | Readed: 1970

Azerbaijan-Czech business forum kicked off in Baku within the framework of visit of the Czech delegation led by Minister of Industry and Trade Jan Mladek. The event brought together more than 150 businessmen from both sides operating in the fields of......

Silk Way Group to purchase three Boeing 747-8 Freighters

02.03.2015 | Readed: 2094

Azerbaijan`s Silk Way Group will purchase three 747-8 Freighter airplanes as the company signed an agreement with Boeing. The agreement was signed by President of Silk Way Group Zaur Akhundov and Vice-president of Boeing Commercial Airplanes Marty Bentrott.......

Number and average monthly salary of employees engaged in transport, information and communication enterprises in 2014

21.02.2015 | Readed: 2022

In 2014 average number of employees engaged in transport enterprises formed 73.5thousand in 2014, 71.6% of them worked in state enterprises, 28.4% in private sector. 50.9 % of employees worked in surface and pipeline, 11.7 % in water, 16.4% in air transport and......

“Azerbaijani tax system: Realities and Prospects” Forum kicks off in Baku

10.02.2015 | Readed: 2016

The Tax Forum themed “Azerbaijani tax system: Realities and Prospects” dedicated to the 15th anniversary of the establishment of the Taxes Ministry in Azerbaijan today kicked off in Baku. The forum also gathered representatives of the Cabinet of......

Azerbaijani, Kazakh customs committees ink engagement plan

10.02.2015 | Readed: 1975

The international trade development between Azerbaijan and Kazakhstan is envisaged in the bilateral engagement plan for 2015-2016s signed in Baku. As was noted, the two countries intend to expand the foreign trade operations, which do not reflect the......

Azerbaijan and Russian Customs Services sign documents

05.02.2015 | Readed: 2014

On February 4th, a delegation led by the Russian Federal Customs Service Director Andrei Belyaninov who is on two days official visit to Azerbaijan met the Chairman of Azerbaijan`s State Customs Committee Aydin Aliyev to sign documents on this......

Standard & Poors credit rating for Azerbaijan stands at BBB

31.01.2015 | Readed: 1940

Standard & Poors credit rating for Azerbaijan stood at BBB-. Moodys rating for the country`s sovereign debt is Baa3. Fitchs credit rating for Azerbaijan is BBB-. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness......

Azerbaijan, Gabon discuss customs cooperation

27.01.2015 | Readed: 1891

Chairman of the State Customs Committee of Azerbaijan Aydin Aliyev has met a Gabonese delegation led by Deputy Minister of Economy, Investment Promotion and Planning Marie Julie Bilogo Bi-Nzendong to discuss cooperation in the customs field. Highlighting......

Prices for local petrol and diesel fuel returned to previous level on Azerbaijani President’s instructions

15.01.2015 | Readed: 1791

In accordance with the instructions of the President of Azerbaijan Ilham Aliyev the Tariff (Price) Council cancelled the increase of prices for petrol AI-92 and diesel oil of local production. According to the Tariff Council, today, on behalf of the......

Oil price on world markets

09.01.2015 | Readed: 1797

Oil prices have changed in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil has increased $0.62 to trade at $49.08, as well price of British Brent crude oil at the London ICE......

Turkish stretch of TANAP to be laid in the first quarter of coming year

09.12.2014 | Readed: 3051

Works on the Trans-Anatolian Natural Gas Pipeline (TANAP) project are in success. The project has completed tenders for the supply of pipe lines. The announcement of the construction tenders is nearly completed, President of the State Oil Company of Azerbaijan......

Baku hosts conference of Heads of National Training Centers for WCO Europe Region

09.12.2014 | Readed: 3133

The World Customs Organization today held the Conference of Heads of National Training Centers on strengthening the capacity of the European region in the capital of Azerbaijan. The meeting dedicated to the WCO Regional Office for Capacity Building in......

Azerbaijan, China sign grant agreement

09.12.2014 | Readed: 3074

A grant agreement between the Government of the People’s Republic of China and the Government of the Republic of Azerbaijan was signed. Under the signed document, the Chinese government will allocate a grant in the amount of 30 mln Chinese yuan ($4,5......

BSEC customs officials convene in Baku

27.11.2014 | Readed: 3264

A meeting of the heads of customs administrations of member states of the Organization of Black Sea Economic Cooperation (BSEC) has kicked off in Baku. The two-day meeting is attended by delegates from Azerbaijan, Bulgaria, Romania, Ukraine, Greece,......

International industry conference kicks off in Baku

27.11.2014 | Readed: 2070

An international conference on entitled " Industrialization in the 21st century: main trends of industrial policy, a modern approach and practices" has started in Baku. Opening the event,......

Milli Majlis discusses 2015 state budget package

19.11.2014 | Readed: 2424

Milli Majlis of the Republic of Azerbaijan started discussions on state budget package of Azerbaijan for 2015. 3-day discussions of budget package will include draft laws on “Azerbaijan’s state budget for 2014”, “The budget of the State Social......

"Baku Steel Company" LLC awarded the prize of "Metallurgical Company of the Year"

18.11.2014 | Readed: 2559

A flagship of the modern metallurgy of Azerbaijan Republic - Baku Steel Company LLC is the first up-to-date steelworks in the Caucasus region. The president of Georgia Giorgi Margvelashvili presented “Caspian Energy Award” on nomination......

Baku hosts 7th International Banking Conference

15.11.2014 | Readed: 2247

On November 14th, the 7th International Banking Conference kicked off in Baku under the support of CIS Financial and Banking Council, International Bank of Azerbaijan (IBA) and CIS Executive Committee. Opening the conference, Chairman of the CIS......

Iranian Minister: Hassan Rouhani`s visit will contribute significantly to the deepening of our relations with Azerbaijan

11.11.2014 | Readed: 2123

The Iranian Minister of Communications and Information Technology has expressed confidence that the forthcoming visit of President Hassan Rouhani to Azerbaijan will be an important step towards developing relations between the two countries. “The visit of......

Azerbaijan, Poland discuss cooperation in agrarian field

05.11.2014 | Readed: 2153

Azerbaijan and Poland have explored ways of developing cooperation in agrarian field as the country`s Minister of Economy and Industry Shahin Mustafayev met Polish Minister of Agriculture and Rural Development Marek Sawicki. They exchanged views on the......

Hungarian delegation visits SOFAZ

04.11.2014 | Readed: 2065

Executive director of the State Oil Fund of the Azerbaijan Republic (SOFAZ) Shahmar Movsumov has today met a delegation led by Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto. The sides discussed the current state and prospects of economic......

Baku hosts conference on “Baku-Tbilisi-Kars railway line - new opportunities for the development of the historical Great Silk Road”

17.10.2014 | Readed: 2983

An international conference titled “Baku-Tbilisi-Kars railway line – new opportunities for the development of the historical Great Silk Road” has been held in Baku. The event brought together representatives of European and Asian countries,......

Azerbaijani, Uzbek customs committees sign cooperation plan

15.10.2014 | Readed: 2852

Azerbaijan and Uzbekistan have signed a plan of cooperation in the fields of customs for 2015-216 and a protocol on the initial exchange of information between the two countries’ customs services about goods and vehicles passing the state border. The......

Azerbaijan, Iran discuss ICT cooperation

11.10.2014 | Readed: 2485

Azerbaijani Minister of Communications and High Technologies Ali Abbasov has today met Chairman of the Islamic Republic of Iran Broadcasting (IRIB) Ezzatollah Zarghami. During the meeting, they discussed cooperation prospects between the two countries in......

2nd Baku Forum of Economic Think-Tanks of ECO member states kicks off

02.10.2014 | Readed: 2939

The 2nd “Forum of the ECO Economic Think Tank Centers” and the 2nd “International Conference on Energy, Regional Integration and Socio-economic Development” kicked off in Baku. The Meetings is hosted by the Institute for Scientific Research on Economic......

Tallinn hosts 2nd meeting of intergovernmental commission on trade and economic cooperation between Azerbaijan and Estonia

02.10.2014 | Readed: 2023

The 2nd meeting of the intergovernmental commission on trade and economic cooperation between Azerbaijan and Estonia has been held in Tallinn. An Azerbaijani delegation led by Minister of Communications and High Technologies Ali Abbasov attended the......

Baku hosts next meeting of Azerbaijan-Russia Intergovernmental Commission

16.09.2014 | Readed: 2737

Baku has hosted the 14th meeting of Azerbaijan-Russia Intergovernmental Commission on economic cooperation. First Deputy Prime Minister of Azerbaijan Yagub Eyyubov praised the holding of the meeting of the intergovernmental Commission after a long......

bp-Azerbaijan holds career forum for Azerbaijan students and alumni

09.09.2014 | Readed: 2816

Bp-Azerbaijan hosted a career forum for Azerbaijani national overseas students and graduates specializing in the oil and gas industry related disciplines. The event is part of BP’s and its co-ventures’ commitment to supporting the country’s efforts in......

Azerbaijan, Germany mull economic ties

03.09.2014 | Readed: 2701

On September 2nd Azerbaijan`s Minister of Economy and Industry Shahin Mustafayev met with a German delegation comprising Hanns-Eberhard Schleyer, chairman of the Board of the German-Azerbaijani Forum, former Secretary General of......

State-of-the-art production areas launched at Baku Steel Company after major overhaul

23.07.2014 | Readed: 2770

Baku Steel Company LLC has launched new state-of-the production areas after a major overhaul aimed at increasing the facility`s production capacity and export potential. A solemn ceremony was held to inaugurate the production......

Azerbaijan, EU discuss cooperation prospects

18.07.2014 | Readed: 2689

Azerbaijan and the European Union have held discussions under the EU`s regional energy co-operation programme (INOGATE). Co-organized by Azerbaijan`s Ministry of Energy and INOGATE Technical Secretariat, the event discussed a......

Baku hosts Azerbaijani-Russian business forum

16.07.2014 | Readed: 2837

An Azerbaijani-Russian business forum has kicked off in Baku bringing together representatives of a total of about 60 companies from both countries specializing in a variety of fields, including agriculture,......

Ankara hosts 7th meeting of Azerbaijan-Turkey Intergovernmental Joint Economic Commission

12.07.2014 | Readed: 2822

The 7th meeting of the Azerbaijan-Turkey Intergovernmental Joint Economic Commission has been held in Ankara. An Azerbaijani delegation led by Deputy Prime Minister, co-chair of the commission Abid Sharifov met with Turkish......

SOFAZ Executive Director attends EITI Board Meeting in Mexico

03.07.2014 | Readed: 2364

An Azerbaijani delegation led by Executive Director of the State Oil Fund Shahmar Movsumov is participating in the 27th Extractive Industries Transparency Initiative (EITI) Board Meeting in Mexico. EITI is a special......

Azerbaijani Minister of Economy and Industry meets Russian Minister of Regional Development

24.06.2014 | Readed: 2365

Azerbaijani Minister of Economy and Industry Shahin Mustafayev has met Russian Minister of Regional Development Igor Slyunyayev on the sidelines of the 5th Azerbaijan-Russia Interregional Forum in Gabala. Mr. Mustafayev hailed......

5th Azerbaijan International Insurance Forum kicks off in Baku

20.06.2014 | Readed: 2496

The 5th Azerbaijan International Insurance Forum has started in Baku, brining together representatives of more than 250 local and foreign companies, experts from the UK, Germany, Belgium, France, Germany, Turkey and Russia. The......

Pasha Life Insurance wins award at FIAR 2014

04.06.2014 | Readed: 3069

The “Pasha Life Insurance” company has won a special award for success in life insurance market. The company won the award on the sidelines of the International Insurance and Re-insurance......

Azerbaijan-Vietnam business forum held in Hanoi

20.05.2014 | Readed: 3123

On May 19th an Azerbaijan-Vietnam business forum took place in Hanoi as part of a state visit by Azerbaijani President Ilham Aliyev. Speaking to the forum, Vietnamese Deputy Minister of Industry and Trade Nguyen Cam......

Azerbaijan, Brazil discuss relations in customs sphere

20.05.2014 | Readed: 3027

On May 19th Chairman of Azerbaijan`s State Customs Committee Aydin Aliyev met Undersecretary of Customs and International Relations at the Secretariat of the Federal Revenue of......


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