In November, the government of Azerbaijan is to hold together with the industrial development of the United Nations (UNIDO) an international conference on the development of the industry.
As the Economy and Industry Minister Shahin Mustafayev told the official media, the project will be implemented also due to achievements in the field of agriculture, information and communication technologies, alternative energy, tourism and other emerging priority areas.
According to him, currently due to loans from international financial institutions 14 projects with a total value of $ 7.2 billion are implemented. Preference is given to road construction and transport, water and sanitation, energy, agriculture, environment, finance and other sectors.
The Minister said that the largest share of the loan portfolio (35%) belongs to the World Bank, the Asian Development Bank - 16%, EBRD - 10%, the Islamic Development Bank - 6%, the rest - the result of agreements with other international financial institutions.
Mustafayev aims to further borrowing credits from abroad under the state guarantees. - 17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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