During a meeting in Baku, Minister of Economic Development Shahin Mustafayev with the Ambassador of Argentina in Azerbaijan Carlos Dante Riva preliminary agreement was reached to hold the first meeting of the Joint Working Group on Trade and Economic Cooperation, in December of this year. However the parties, despite the claim in December 2012 by the Parliament of Azerbaijan on agreement on trade and economic cooperation, have not yet agreed on the composition of the working group.
The press service of the Ministry of Economic Development told Turan, that the discussions also agreed to hold in December of that year the business forum with the participation of representatives of the business community.
The sides discussed the prospects of expanding cooperation in the field of agriculture, as well as networking in the fields of ICT, tourism, construction, manufacturing medicines and alternative energy.
According to the State Customs Committee of Azerbaijan, in 2012 the trade turnover between Azerbaijan and Argentina fell by 59% to $ 15 million, which is almost entirely a credit to Argentine exporters. This was mainly due to the suspension of Azerbaijan's exports. In 2012, Azerbaijan imported from Argentina fruit, cream and vegetable oils, waste from the extraction of soybeans and other products. - 08D-
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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