Azerbaijan and China agreed on a draft agreement on air traffic
During the visit to Beijing, the National Civil Aviation Administrations of Azerbaijan and China agreed on a draft intergovernmental agreement on air services and signed a document.
The official report of the National Civil Aviation Administration of Azerbaijan noted that the new agreement provides for the airlines of the two countries additional opportunities to establish regular flights. In the international relations department of the administration they told Turan that the directions of new routes will be agreed at the airlines.
Note that the Azerbaijan Airlines and China Southern Airlines operate seasonal flights between Baku and Urumqi. The Azerbaijani cargo airline Silk Way Airlines operates services between the two countries.
The meeting with representatives of the Civil Aviation Administration was attended by representatives of the Azerbaijani airlines. - 08D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review