Completed the official visit to Hungary of the Minister of Communications and Information Technologies Ali Abbasov. The inviting party was Minister of Economic Development of the country Zsuzsa Nemeth.
Chief signalman was in an information technology University of Pannonia in Veszprem to exchange students and young professionals . Speech by Minister for the students and faculty on the topic of "Trends of the global development of information and communication technologies," according to the press service of the ministry, has caused great concern in the region of Central Europe.
During the meeting with Zsuzsa Nemeth decided to prepare a report about the main areas of cooperation to the next meeting of the inter-parliamentary economic committee of Azerbaijan- Hungary in Baku. Ali Abbasov invited the Hungarian counterpart to visit an international exhibition BakuTel, which will be held in Baku on 2-5 December this year.
During the visit, Minister Ali Abbasov also visited the center CERN @ WIGNER DataCenter in Budapest , considered one of the main centers of information technology in Europe. The center's director , Peter Levai and Project Manager Gabor Peto detail informed the Azerbaijani Minister of the operating principles and possibilities of this "think tank" .
The visit was attended by Secretary of State for Telecommunications issues Wailly Hungarian Vilmos Nagy, Hungarian ambassador to Azerbaijan Zsolt Csutora and Azerbaijani ambassador to Hungary Vilayat Guliyev. - 17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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