On September 16 a business forum opened in Baku with participation of the Presidents of Azerbaijan and the Czech Republic and businessmen of the two countries.
Speaking at the opening, Ilham Aliyev said that there is a need to coordinate the strengthening of bilateral economic relations. According to him, they discussed the participation of Czech banks in the projects in Azerbaijan and bilateral cooperation in the field of transport and energy.
According to him, last year the volume of investments in Azerbaijan totaled 27 billion USD, most of which are foreign funds.
In turn, the President of the Czech Republic Milos Zeman said that 30% of the oil purchased by the Czech Republic comes from Azerbaijan. There are all opportunities for expansion of ties and cooperation in other spheres. -02D-
Economics
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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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