The Azerbaijani-Russian joint pharmaceutical plant will come to full production capacity in 2020, Azerbaijan’s Economy Minister Shahin Mustafayev said. He made the remarks during the plant’s groundbreaking ceremony in the Pirallahi Industrial Park. This is Azerbaijan’s first pharmaceutical plant, said the minister, adding that a 10% share in the joint venture would be owned by…
Currency reserves of the Central Bank of Azerbaijan (CBA) decreased by $127.2 million MoM (3.08%) to $4.005 billion in October, according to the CBA statistical data. The Central Bank’s currency reserves have decreased by 1.011 billion manats, or by 20.2% since early 2016. The reduction in CBA’s currency reserves began in June 2014. The reduction…
Azerbaijan’s state oil company SOCAR made a decision to extend the term of a letter of guarantee on the tender to buy a 66-percent stake in the Greek national gas transmission system operator DESFA for another month, Anar Mammadov, SOCAR Energy Greece executive director, reported. “We are trying to find a mutually acceptable solution”, he…
Azerbaijani and Swiss financial markets supervisory authorities have great potential to expand the existing ties, Chairman of Azerbaijan’s Financial Market Supervisory Body Rufat Aslanli said at the meeting with the leadership of the Swiss financial regulator. The presentation of activity of the Swiss Financial Market Supervisory Authority was held for the Azerbaijani delegation on a…
OPEC Secretary General Mohammad Sanusi Barkindo received Azerbaijani Minister of Energy Natig Aliyev and Ambassador and Permanent Representative of the Permanent Mission to the International Organizations in Vienna Galib Israfilov. Non-OPEC countries were invited to join in talks following the Algiers Accord, reached in Algeria on September 28. Natig Aliyev said that Azerbaijan was very…
Azerbaijan’s ambassador to Kenya with residence in Addis Ababa, Ethiopia, Elman Abdullayev said Azerbaijan and Kenya were determined to establish trade and business links. “We are very much ready to explore Kenyan market for Azerbaijan goods”, Abdullayev said. “And of course, we plan to launch a joint initiative to boost trade between the two countries.…
Azerbaijan and Dagestan have agreed to implement a number of joint projects in the spheres of trade and agriculture, Head of Dagestan Republic of the Russian Federation Ramazan Abdulatipov said at the agrarian forum “Dagestan’s Golden Autumn”. “There is an agreement with the Azerbaijani side to open a large store of Dagestan’s goods in Azerbaijan’s…