Azerbaijan will launch the construction of several pharmaceutical plants soon, Shahin Mustafayev, Azerbaijani minister of economy, reported. Mustafayev added that at present, Azerbaijan was holding talks on the cooperation in field of pharmaceutics with a number of countries. “The talks on joint medication production are being held with Iran, Turkey and a number of European…
DetailsAzerbaijan and Russia’s Dagestan agreed to cooperate on development of foreign economic relations. A memorandum of cooperation was signed between Agency for Entrepreneurship and Investments of Dagestan Republic of Russia and Azerbaijan Export and Investments Promotion Foundation (AZPROMO) during the 7th Azerbaijani-Russian Interregional Forum in Baku. The memorandum was signed by Bashir Magomedov, head of…
DetailsAzerbaijan and Russia intend to expand the network of flights, which are currently carried out in six directions between the two countries, Head of the International Cooperation Department of the Federal Agency for Tourism of Russia Valery Korovin said. He said that the level of tourism logistics between the two countries was below its real…
DetailsVietnam offers Azerbaijan certain proposals for cooperation in energy, transportation, agriculture and commerce, the Azerbaijani ambassador to Vietnam Anar Imanov reported. “All these proposals will be considered during the first meeting of the Azerbaijan-Vietnam Intergovernmental Commission for Economic, Trade, Scientific and Technical Cooperation, planned to be held in the near future”, he said. Currently, a…
DetailsThe 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…
DetailsAccording to Bulgarian Ministry of Agriculture, as of October 20, nearly 371thousand ha of corn were threshed, which was 88% of the intended area (423 thousand ha). 1973.1 KMT were harvested with the average yield of 5.32 MT/ha. Harvesting is 16.1% faster than in 2015. As of the reporting date, average corn productivity was 0.2%…
DetailsCurrency 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…
DetailsThe International Monetary Fund (IMF) has revised upwards expectations regarding the ratio between Ukraine’s gross foreign debt and GDP in 2016-2017. According to the IMF, the indicator will grow to 141.3% of GDP from 136.4% of GDP (earlier it was excepted to be 152.3% of GDP) and in 2017 it will fall to 136.3% of…
DetailsThe Southern Gas Corridor (SGC) project is running in very professional manner, European Commission Vice President for Energy Union Maros Sefcovic reported. Sefcovic said that the competition was very tough, but he was confident that Caspian gas would reach Europe before 2020 via the Southern Gas Corridor. “An enormous investment was made. The project is…
DetailsAzerbaijan’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…
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