Azerbaijan Set to Present its Biennial Transparency Report at COP29

On Monday, November 18, as part of the COP29 events, Baku hosted a presentation of the Roadmap for the 'Energy Efficiency Strategy in Azerbaijan.'

Azerbaijan produced 24.1 million tonnes of crude oil (including condensate) in the first ten months of 2024, a decline driven by reduced output at key offshore fields, according to data from the Ministry of Energy.

Azerbaijan and Germany conducted a high-level business dialogue focused on "Green Transformation" during the COP29 climate summit, organized by the Azerbaijan Export and Investment Promotion Agency (AZPROMO) and the Eastern Business Association of Germany. The event brought together around 40 representatives from both countries, including companies specializing in renewable energy, food production and packaging, ICT and technology services, water management solutions, automotive industry technologies, and other sectors.

Azerbaijan's defense and national security expenditures are set to increase significantly next year, driven by the need to enhance military capabilities and respond to Armenia's escalating militarization efforts, Finance Minister Samir Sharifov said on Monday.