Azerbaijani Foreign Ministry has decided to explain the unexpected statement by the Deputy Foreign Minister Mahmud Mammadguliyev on the request $ 1 billion at the WTO. This strange statement was made a few days ago, and caused a lot of questions.
On Thursday, a spokesman for the Foreign Ministry Hikmet Hajiyev explained that Baku intends to acquire the right from the WTO to obtain annual subsidies for the agricultural sector $ 2 billion. In this regard, the talks on the WTO accession are ongoing.
According to Hajiyev, after joining the WTO Azerbaijan wants to receive $1 billion to the agricultural sector and another $1 billion after returning to the jurisdiction of the Azerbaijani territories occupied by Armenia.
The negotiations on Azerbaijan's accession to the WTO have been conducted since 1997, and have not brought tangible results. -02D-
Economics
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The Agency for the Development of Small and Medium-Sized Businesses (KOBIA), in collaboration with the Ministries of Economy and Ecology and Natural Resources, organized a conference today in Baku focusing on the role of small and medium-sized enterprises (SMEs) in advancing the green economy.
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Under the golden September sun, the Third Grape and Wine Festival took place in Shamakhi, in the village of Meysari on September 7-8, 2024, drawing wine enthusiasts and tourists alike to celebrate Azerbaijan’s ancient winemaking traditions. Organized by the State Agency for Tourism, the festival highlighted the country’s efforts to rejuvenate its viticulture industry, with a focus on boosting local production and expanding export opportunities.
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Azerbaijan has spent over $1.6 billion on large-scale infrastructure projects, including the Crystal Hall for Eurovision, the Olympic Stadium in Baku, and the Shahdag ski resort. But according to Fikret Mamedov, a graduate of London Business School and director of Sage Solutions, this spending has not provided long-term benefits for the country’s economy.
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The outcome of the 44-day Second Karabakh War in 2020 has significantly reshaped the ranking of foreign direct investment (FDI) into Azerbaijan's economy, economist Gubad Ibadoglu said in an article. Recent data show a notable rise in investments from Russia, Turkey, and China, particularly targeting the liberated territories. However, Western investments have remained limited, as barriers such as monopolies, a lack of judicial independence, and the government's classification of states as "friendly" or "unfriendly" have dampened interest.
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