The VII Azerbaijani-Russian inter-regional forum dedicated to trade, economic ties and mutual investment policy of the two countries will be held in Baku on November 1.
According to the Ministry of Economy, the forum will host a meeting of representatives of business circles of Azerbaijan and Russian regions. These are companies that are engaged in industry, agriculture, construction, tourism, trade, consulting, logistics, ICT, finance, pharmaceuticals, etc.
The previous VI Russian-Azerbaijani inter-regional forum was held in Yekaterinburg on September 30.
According to the State Customs Committee of Azerbaijan, for the first 9 months of this year the trade turnover between Azerbaijan and Russia amounted to $ 1 billion 347.1 million, which is slightly ($ 4.4 million) less than in the comparable period of 2015. Imports of goods from Russia were 4 times higher than Azerbaijan exports ($ 251.6 million). -------08D
Economics
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Azerbaijan’s Parliament has ratified a landmark agreement on the development and transmission of green energy with Kazakhstan and Uzbekistan. The agreement, signed by the leaders of the three countries during COP29 in Baku last November, aims to promote renewable energy sources, enhance energy security, and support sustainable development.
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Azerbaijan’s non-oil and gas exports increased by 0.3% in 2024, reaching $3.4 billion compared to the previous year, driven largely by higher sales of agricultural and food products, according to the latest Export Review by the Center for Analysis of Economic Reforms and Communication.
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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