Baku hosts conference on the development and prospects of the customs system. The organizers are the American Chamber of Commerce (AMCHAM) in Azerbaijan and the State Customs Committee (SCC).
The SCC head Aydin Aliyev highlighted the need for transparency in the activities of the committee, somehow linking it to the instability of the global economy and the decline in the exchange price of oil.
According to him, the issue of reduction of customs duties on some imported products, mainly raw materials and components for the production of local products, is considered. --17D-
Economics
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The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
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The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
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Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
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Issues related to the development of the energy sector through digital innovations were the subject of negotiations between Rovshan Najaf, President of SOCAR, and Seita Hagihara, President and Vice President of Yokogawa Electric Corporation, a leading Japanese multinational company specializing in electrical engineering and industrial automation.
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