Azerbaijani-Russian economic relations: Unlocking the potential for boosting trade turnover

Azerbaijan is set to introduce new legislation aimed at addressing unemployment and aiding job seekers, as highlighted in the World Bank Group's 2024 Business Ready report on the "workforce" indicator. The initiative underscores the government's commitment to tackling employment challenges in the country.

Turkey and Azerbaijan signed an important agreement on cooperation in the field of natural gas on May 14, which marks a new dimension in their bilateral relations. The agreement paves the way for the delivery of Turkmenistan's natural gas to Turkey via Azerbaijan and Georgia, Acting Turkish Energy Minister Alparslan Bayraktar announced at a press conference.

Goydaniz Gakhramanov has been re-elected as the chairman of the Board of the Association of Travel Agencies of Azerbaijan (ATAA) at the IV Assembly of the organization. Gakhramanov acknowledged the achievements in Azerbaijan's tourism sector while highlighting ongoing challenges that need to be addressed.

According to the State Statistics Committee, Azerbaijan's GDP decreased by 4.5% in the first four months of 2024, amounting to 38.18 billion manats ($22.45 billion). This indicates a significant decline compared to the same period in 2023, which is largely due to a drop in oil revenues.