Azerbaijan and Slovenia Interested in Development of ICT Links
Slovenia intends to expand bilateral relations with Azerbaijan not only in politics , investment , tourism and trade, but also in the field of information and communication technologies.
This was discussed during the reception of President Ilham Aliyev Balkan delegation headed by the mayor of Ljubljana Zoran Jankovic . Guests were also the Minister of Defence of Slovenia Roman Yakich and Minister of Economic Development and Technology Stanko Stepishnik .
Official guests said they "are impressed at the rapid development of the capital of Azerbaijan."
The Azerbaijani government has previously stated its desire to be present in the ICT market in Slovenia. Minister of Communications and Information Technologies Ali Abbasov at a meeting with Deputy Prime Minister and Minister of Economic Development and Technology of Slovenia Radovan Zerzhavom in September last year spoke of the possibility of investing in information services and space communications by the first national telecommunications satellite AzerSpace- 1.
In Azerbaijan, there are 5 companies with Slovenian capital, but the prospects there are especially in the tourism sector. - 17D-
Economics
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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.
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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.
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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.
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"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.
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