Azerbaijan stated its decision not to join the Customs Union of Russia, Kazakhstan and Belarus, said the head of the State Customs Committee Aydin Aliyev. At a meeting with the Minister for Customs Cooperation Committee of the Eurasian Economic, Vladimir Goshin, he said that Azerbaijan will not join this organization.
The meeting was held during the session of the Council on Customs Cooperation and the Global Excise Summit in the headquarters of the World Customs Organization (WCO) in Brussels, according to the press service of State Customs Committee.
Customs union is a form of trade and economic integration of Belarus, Kazakhstan and Russia, which provides a single customs territory, within which customs duties and restrictions of economic nature are not applied.
Countries-members of the Customs Union apply a common customs tariff and other measures to regulate trading with third countries.
With regard to proposals to join the Customs Union, Azerbaijan has got such proposals from Moscow. In particular, last time the Russian State Duma Speaker, Sergey Naryshkin, declared in Baku in early July.-0-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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