Azerbaijan’s President Ilham Aliyev has signed a decree on application of the “Law on Amending Tax Code of Azerbaijan” adopted by the country’s parliament on September 30. The amendments stipulate removing the value added tax (VAT) for the goods transshipment services directly related to transit cargo transportation. The VAT rate in Azerbaijan is 18%. Currently,…
Azerbaijan Caspian Shipping CJSC has launched Shahdag ferry for traffic on the Trans-Caspian International Transport Route, the CJSC said in a message. The message says that the ferry has been launched after a major overhaul. Main and auxiliary engines, various systems, steering wheel and other mechanisms, as well as premises and accommodation were modernized during…
As many as 78 state enterprises and facilities will be put up for privatization of the State Property Issues Committee of Azerbaijan on November 22, the message of the committee said. The enterprises operate in the fields of cotton growing, agricultural chemistry, transport, construction and others. These enterprises are located both in Baku and in…
A.M. Best, the world’s oldest and most authoritative insurance rating and information source, has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of “bbb-” of AzRe Reinsurance OJSC, the sole domestic reinsurer in Azerbaijan. The outlook of these Credit Ratings (ratings) remains stable, according to the service’s message. “The ratings…
Air Arabia, a low-cost airline of the UAE, is opening direct Sharjah-Baku flights. The launch of flights is a result of joint cooperation between Air Arabia, Azerbaijan Airlines CJSC and the authorities, and is aimed at the development of a new route linking Baku and Sharjah. Air Arabia will start flights from Sharjah International Airport…
Azerbaijan’s Prime Minister Artur Rasizade has met President of Venezuela Nicolas Maduro. Rasizade said Azerbaijani-Venezuelan relations were at a good level, adding that both countries supported each other within international organizations. The Prime Minister said there was good potential for boosting economic ties between the two countries and stressed the importance of increasing efforts for…
In January-August the import volumes of wheat to Azerbaijan totaled 953.6 thousand tons, up by 1.8% YoY, the State Statistical Committee of the Republic of Azerbaijan reported. According to the statistics figures, the general cost of imported wheat to the country totaled nearly $179 million (down by 17.2%). Also, in the reporting period Azerbaijan imported…