Azerbaijan: volume of wine exports in 2017 revealed

In 2017 Azerbaijan exported wine products worth $6 million, economy minister Shahin Mustafayev said at a press conference on February 13.

Furthermore, Azerbaijani wines worth $1 million were delivered to China, he said. (Trend/Business World Magazine)

Azerbaijan: Baku expanding railway network

Laying work of new station tracks started at the Eybat cargo train station in Qaradag district of Baku, said the message of the public-relations department of Azerbaijan Railways on February 5. A surge of cargo turnover is expected after the completion of large-scale projects carried out on the railways of the country, the message notes.…

Azerbaijan: new-generation weapons produced

The defense industry plays an important role in the economy of every confident country in the world, including Azerbaijan, whose defense industry is expanding with each passing year. In 2017 the enterprises of Azerbaijan’s Ministry of Defense Industry continued work on the production of defense products. The ministry noted that the volume of defense and…

Kazakhstan: transit of energy resources to step up cooperation with Azerbaijan

Export of energy resources, including gas and liquefied gas to third countries through the territory of Kazakhstan and Azerbaijan will strengthen the transit cooperation between the two countries, Ambassador Extraordinary and Plenipotentiary of Kazakhstan Beibit Isabayev declared. “Recently we’ve held a meeting of the intergovernmental commission between our countries, where we have approved of a…

Azerbaijan: Tatra trucks to be produced

Azerbaijan will launch the production of Tatra trucks from 2018, the Azerbaijani embassy in the Czech Republic said. A memorandum was signed between Ganja Automobile Plant production association and Tatra company at the embassy of the Czech Republic in Azerbaijan. The document was signed by head of Ganja Automobile Plant Khanlar Fatiyev and chairman of…

Azerbaijan: Unibank issues USD bonds

The Baku Stock Exchange (BSE) has registered the issue prospectus of interest-bearing book-entry registered unsecured bonds of OJSC Unibank, said the BSE in a message on December 18. One thousand bonds at a par value of $10,000 each have been issued. The yield on the bonds will be 6% per year. Unibank has been operating…

Azerbaijan: GDP to grow in 2018

The UN predicts an increase in Azerbaijan’s GDP by 1.8% in 2018, according to the “World Economic Situation and Prospects-2018” (WESP) report prepared by the UN Department of Economic and Social Affairs. According to the report, Azerbaijan’s GDP will decrease by 1% in 2017 and will grow by 2.3% in 2019. The restoration of the…

Azerbaijan to launch direct flights to Croatia

Azerbaijan offers Croatia to launch direct flights for development of tourism, Azerbaijani Economy Minister Shahin Mustafayev said. Mustafayev made the remarks at a meeting with Croatian Deputy Prime Minister, Minister of Economy, Entrepreneurship and Crafts Martina Dalic in Baku, the Azerbaijani Economy Ministry reported on November 29. Speaking about cooperation between the two countries, Mustafayev…

Azerbaijan: four bridges constructed

Four bridges have been constructed in Azerbaijani Agstafa district, Azeravtoyol OJSC reported. Three bridges were built on the Agstafa-Poylu-Georgian state border highway and one bridge on the Agstafa-Poylu-Duzgishlag-Gazakh highway to ensure comfortable and safe movement of the citizens. New bridges were built across Agstafachay, Ajiderechay and Kura rivers, as well as over the railway. The…