The Azerbaijani government delegation on 17-18 February will visit Bosnia and Herzegovina. During the visit, the Export and Investment Promotion Fund of Azerbaijan will organize in Banja Luka a bilateral business forum, where it has invited Azerbaijani entrepreneurs.
Despite the attempts of the two countries, the level of trade turnover between Azerbaijan and Bosnia is at a low level. The State Customs Committee of Azerbaijan, in 2012, exports of goods to Bosnia was virtually at zero ($ 2000). Imports from Bosnia are $ 284,000, which is 2% less than in 2011.
The first business forum Azerbaijan - Bosnia-Herzegovina was held in October last year during a visit to Baku Chairman of the Presidium of the country Bakir Izetbegovic. The event was attended by about 70 entrepreneurs from both countries. - 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