Azerbaijan’s economic model covering the last 10 years has proved to be valuable, Shahmar Movsumov, executive director of the State Oil Fund of Azerbaijan (SOFAZ), reported. “Over the last decade, this economic model has turned Azerbaijan into a completely new country and helped create modern infrastructure. However, in the new economic environment this model ceased…
Since the beginning of 2016/2017 MY, Ukraine exported 20.061 million tons of grains, up by 0.88 million tons YoY, the Ministry of Agrarian Policy and Food of Ukraine declared. In particular, wheat exports totaled 10.6 million tons (up by 1.1 million tons YoY), corn – 5.3 million tons (down by 0.45 million tons), and barley…
Azerbaijan has limited cash transactions by large entrepreneurs operating in trade and public catering to 30,000 manats per month, starting from 2017, according to the amendments to the Tax Code approved at a plenary session of the Parliament. In accordance with the amendments, the limit affects the entrepreneurs operating in trade and public catering with…
Some 183 countries became Azerbaijan’s foreign trade partners in January-November compared to 162 countries in the same period of 2015, the country’s State Customs Committee said in a report. According to the report, 13,244 legal entities and individuals (of them 5,226 legal entities and 8,018 individuals) were involved in the country’s foreign economic activities. Azerbaijan’s…
The government of Azerbaijan plans to increase the share of the insurance market in the country’s non-oil GDP to 1.4% until 2020, the Strategic Road Map for Development of Financial Services in Azerbaijan said. Azerbaijan’s Financial Markets Supervision Chamber, which regulates the insurance market, said that the share of the insurance market in GDP was…
Ukraine and the Republic of Ireland have discussed the issue of possible expansion of trade and economic cooperation, in particular, with regard to imports of Irish beef, pork, milk, and dairy products to Ukraine. This has been reported by the State Service of Ukraine on Food Safety and Consumer Protection following a meeting of Chairman…
Azerbaijan has exempted the sale of poultry meat, production and sale of wheat flour and bread from value added tax (VAT) for three years starting from January 1, 2017, according to the amendments to the Tax Code approved at a plenary session of Parliament. The import and sale of wheat is also exempt from VAT…