Ukraine: first imports of liquefied gas from Azerbaijan

Ukraine has imported 740 tons of propane-butane mixture (LPG) from Azerbaijan in the beginning of the third decade of November, according to UPECO consulting company. Ukraine hasn’t previously received liquefied gas from Azerbaijan. “The importers are Ukrainian Nadezhda company and SOCAR Energy Ukraine (subsidiary of Azerbaijan’s state oil company SOCAR), which contracted for 530 tons…

Belarus and Azerbaijan analyzing joint production of carpets and cotton fabrics

Belarus and Azerbaijan are analyzing the prospects of joint production of carpets and cotton fabrics, the Belarusian President’s press-service said in a statement following President Alexander Lukashenko’s talks with Azerbaijani President Ilham Aliyev. “In my opinion, Azerbaijan did the right thing when it decided to develop its cotton growing industry. Output figures will rise so…

Azerbaijan: Taxes Ministry completes joint twinning project with EU

The European Union (EU) and Azerbaijan’s Taxes Ministry have successfully completed the implementation of a joint twinning project on improvement of human resources management, the country’s Deputy Taxes Minister Sahib Alakbarov said. The twinning project’s implementation was carried out jointly with taxes administrations of the EU, France and Spain. “This project has become a successful…

Azerbaijan: reasons of GDP decline

Azerbaijan’s GDP amounted to 49.2 billion manats in January-October, down by 3.7% YoY, the country’s finance minister Samir Sharifov said. He made the remarks during a discussion on the draft state budget and the concept of social and economic development for 2017 and the next three years. The discussions on the draft state budget at…

Azerbaijan to support all North-South corridor members

The Azerbaijani government is ready to assist all participants of the international North-South transport corridor in every way possible, Sahil Babayev, Azerbaijan’s deputy economy minister, said. “Azerbaijan, being a member of such multimodal projects as North-South and West-East transport corridors, sees itself as a regional hub. Logistics and infrastructure development is necessary for development of…

Azerbaijan: railways on priorities until 2019

Addressing the International Rail Business Forum titled “Strategic Partnership 1520: Caspian region”, Head of Azerbaijan Railways CJSC Javid Gurbanov spoke about priorities of the company’s activities. The priority directions of the activity of Azerbaijan Railways CJSC for 2017-2018 includes the development of the North-South transport corridor, renewal of infrastructure from Yalama to Astara in order…

Azerbaijan: foreign debt exceeds $7.6 billion

As of October 1, the volume of Azerbaijan’s foreign state debt amounted to $7.651 billion (12.403 billion manats), that is, 20.1% of the country’s GDP, Azerbaijan’s Finance Ministry said in a message. The statistics on borrowings includes Azerbaijan’s direct obligations and contingent obligations on the loans, drawn under state guarantee. As of October 1, the…

Azerbaijan: privatization in investment tenders gives $1.1 billion

$1.1 billion have been invested in Azerbaijan’s economy through investment tenders, Rafig Jalilov, deputy chairman of Azerbaijan’s State Committee on Property Issues, said. Volume of the domestic production rose by 1.5 billion manats thanks to these investments, according to him. Around 47,000 industry, trade, transportation and other state facilities, as well as non-residential facilities and…

Azerbaijan: no need to rush in privatizing large enterprises

Privatization of Azerbaijan’s large state enterprises, including state oil company SOCAR, requires time and such issues must not be hurried, Rafig Jalilov, deputy chairman of Azerbaijan’s State Committee on Property Issues, said. “It is needed to be consistent in such issues, since the privatization of large enterprises touches the issues of Azerbaijan’s economic independence”, Jalilov…

Azerbaijan and Iran to launch new passenger train

A passenger train will be launched between Azerbaijan’s Nakhchivan and Iran’s Mashhad before late November, Javid Gurbanov, head of Azerbaijan Railways CJSC, reported. Gurbanov said the train would start running either on November 27 or November 30. The Nakhchivan-Julfa-Tabriz-Tehran-Mashhad passenger train will run twice a week. Renewed cars will be used for the trips. (Trend/Business…