Azerbaijan discussing projects in pharmaceuticals and car industry with Iran

Azerbaijan and Iran have discussed the projects for joint production of pharmaceutical products, cars and car spare parts, said the message from Azerbaijan’s Economy Ministry. The issues were discussed during the meeting of Azerbaijan’s Economy Minister Shahin Mustafayev with Iran’s Minister of Communication and Information Technology Mahmoud Vaezi. Vaezi was on an official visit to…

Azerbaijan: 12 projects receive investment promotion documents

Twelve more entrepreneurs have received investment promotion documents worth a total of 106 million manats for their projects. The documents were handed to the entrepreneurs during the event organized by Azerbaijan’s Economy Ministry on July 29. Azerbaijan’s Deputy Economy Minister Niyazi Safarov said that despite the difficult economic situation in the world, Azerbaijan took systematic…

Azerbaijan: investments in Turkey to go up

Azerbaijan plans to increase investments in Turkey up to $20 billion until 2018, said Azerbaijan’s Economy Minister Shahin Mustafayev. “Currently, the volume of Azerbaijani investments in Turkey totals $8 billion”, said Mustafayev. He also noted that Turkey had invested nearly $10 billion in Azerbaijan. More than 1,700 Azerbaijani companies operate in Turkey and the number…

Azerbaijan: talks on WTO accession held in Geneva

Another round of talks on Azerbaijan’s accession to the World Trade Organization (WTO) started in Geneva, the Azerbaijani Foreign Ministry said. According to the ministry, at the negotiations the Azerbaijani delegation was headed by Deputy Foreign Minister Mahmud Mammad-Guliyev. Earlier, Chidu Osakwe, director of the WTO office of accession, said the changes taking place in…

Azerbaijan: AZAL and Ural Airlines agree on Gabala-Moscow code-share

Azerbaijan Airlines (AZAL) and Russian Ural Airlines will start operating joint flights on Gabala-Moscow-Gabala route from July 31. According to the code-share agreement, flights of Ural Airlines on this airline will be operated under the codes of both airlines. Direct flights on Gabala-Moscow-Gabala route will be operated every week on Sundays. Departure from Domodedovo International…

Azerbaijan: assets of State Oil Fund up

Assets of the State Oil Fund of Azerbaijan (SOFAZ) increased by 4.6% and amounted to $35.1 billion as of July 1, as compared to $33.57 billion in early 2016, SOFAZ said in a report. SOFAZ’s revenues totaled almost four billion Azerbaijani manats during the H1 2016, and expenditures were almost at 2.256 billion manats. During…

Azerbaijan and Afghanistan mull creation of joint enterprises

Azerbaijan and Afghanistan discussed the creation of joint enterprises to produce food products, said Azerbaijan’s Economy Ministry. The discussions were held within the meeting of Azerbaijan’s Economy Minister Shahin Mustafayev with Afghanistan’s Ambassador to Azerbaijan Mohammad Taqi Khalili. The economic cooperation between the two countries and other issues of mutual interest were also discussed during…

Ukraine and Azerbaijan agree to resume Odessa-Brody pipeline project

Presidents of Azerbaijan and Ukraine Ilkham Aliyev and Pyotr Poroshenko have discussed potential resumption of works within the Odessa-Brody pipeline project, Aliyev said at a joint press conference with Poroshenko. “We’ve discussed the Odessa-Brody project and gave instructions to resume the project”, he said, adding that the project “is creating good opportunities.” The Odessa-Brody pipeline…