Azerbaijan will start accepting applications from investors wishing to work in its free trade zone (FTZ) in March 2017, Eugene Seah, chief operating officer of the Baku International Sea Trade Port, said. Preparation is now underway in the run-up to the start of accepting applications from companies interested to operate in the FTZ. Azerbaijan’s President…
Azerbaijan’s Energy Minister Natig Aliyev could participate in OPEC’s December 9 meeting with non-OPEC countries, Energy Ministry has said in a message. Aliyev will take part in the meeting in case a relevant invitation is received and it is decided that participation is expedient. “I believe the meeting will determine volume of production cut by…
The EU has successfully implemented more than 45 twinning projects in Azerbaijan, Head of Operations Section at the EU Delegation in Azerbaijan Jeroen Willems said. “This is a very good indicator, and it, in particular, exceeds the number of projects in Georgia and Moldova”, he said. “More than 30 public institutions used twinning-tools during the…
The deficit in Azerbaijan’s payment balance will amount to $5 billion in 2016, Elman Rustamov, chairman of the country’s Central Bank (CBA), said. Rustamov said the biggest part of deficit of Azerbaijan’s balance of payments, that is 88% to 90%, was associated with problems in the capital flow balance. “It cannot be said that the…
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…
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’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…