Azerbaijan has invested about $350 million in the UAE economy, Azerbaijani Minister of Economy Mikayil Jabbarov said. Jabbarov made the remark at the fourth meeting of the Azerbaijan-UAE Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation in Baku. “Some $2.2 billion were invested in the Azerbaijani economy by the UAE, of which $900 million…
The Central Bank of Azerbaijan (CBA) raised 150 million manats ($88.2 million) from banks at a deposit auction on November 12. Supply exceeded demand over 4.4-fold and reached 663.7 million manats ($390.4 million). The interest rate on deposit transactions concluded within the auction was 6.01%. Term of placement of funds is 13 days. The CBA…
The volume of bilateral trade between Spain and Azerbaijan has increased by 5.5% in the first semester of 2019, Charge d’affaires ad interim of Spanish embassy in Baku Ignacio Sanchez Taboada declared. He noted that economic and other private relations had clearly increased in 2018, though there was still much room for improvement. “Our bilateral…
The SOCAR Polymer LLC, a subsidiary of Azerbaijan’s state oil company, will reach full capacity in the production of high-density polyethylene in 2023. According to the updated government forecasts, by the end of 2019, 48,200 tons of high density polyethylene and 110,000 tons of polypropylene will have been produced at the company’s plants. Meanwhile, the…
As part of his visit to Switzerland, Head of the Department of Foreign Policy Affairs of the Azerbaijani Presidential Administration Hikmet Hajiyev has met with Head of the European and Eurasian offices of the World Economic Forum (WEF), member of the WEF Executive Committee Martina Larkin. During the meeting, Hajiyev described WEF as an important…
Azerbaijan is ahead of the US and Germany in terms of Efficiency Index of Rail Service, the Global Competitiveness Report for 2019 published by the World Economic Forum says. Azerbaijan’s Efficiency Index of Rail Service is 70.8, in accordance with the report. In this index, Azerbaijan is ahead of such developed countries as the US…
Over the past 15 years, gross domestic product in Azerbaijan has grown about 3-fold, industrial production 2.6-fold, export volumes 4.7-fold and foreign exchange reserves 24-fold, according to the statistics on macroeconomic indicators for the reporting period. During the same period, infrastructure projects were implemented in Azerbaijan, mainly in the regions. Thus, over the past 15…