Azerbaijan-Turkey Business Forum was held.4.11.2022
A eminent Azerbaijani-Turkish investment forum is set to convene in Baku on December 21.
The event, graced by the participation of key dignitaries, including Azerbaijani Economy Minister Mikail Jabbarov, Turkish Trade Minister Omer Bolat, and the Head of the Financial Office of the Turkish Presidential Administration Geksel Auchan, is poised to be a focal point for discussions on strategic initiatives to fortify economic cooperation between the two nations.
Jointly organized by the Agency for Export and Investment Promotion (AZPROMO) and the Turkish Exporters Assembly (TÜIB), the forum aims to provide a platform for deliberations among business leaders, investors, and businessmen, reflecting the shared commitment of Azerbaijan and Turkey to augmenting bilateral economic ties.
The timing of the forum, dedicated to the centennials of pivotal historical milestones for both nations, adds symbolic resonance to the discussions. The commemoration of Heydar Aliyev's birth and the establishment of the Republic of Turkey underscores the enduring historical ties between the two countries and their mutual trajectory towards progress and development.
Anticipated topics of discussion encompass a spectrum of strategic issues germane to the expansion of economic cooperation, reflecting a comprehensive approach to fostering mutually beneficial partnerships.
Economics
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China's trucks have begun using the Trans-Caspian International Transport Route (Middle Corridor). The first convoy of 26 trucks was loaded and dispatched on July 3 from the port of Kuryk in Kazakhstan on the "Mercury-1" ferry of the Azerbaijani sea transport fleet ASCO.
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Based on the Law ratified by the Milli Majlis and approved by President Ilham Aliyev on June 21, 2024, the authority to represent the state in the implementation of the Agreement on the exploration, development, and production sharing of gold, copper, and polymetallic prospective ore deposits has been transferred to “AzerGold” CJSC. This agreement covers deposits in Gadabay, Gosha, Kharkhar, Garadagh, the Ordubad group (Piyazbashi, Agyurd, Shekerdere, Kalaki), Gizilbulag, Damirli, and Vejnali, and was signed between the Ministry of Ecology and Natural Resources of Azerbaijan and the United States' “R.V. Investment Group Services, LLC”.
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As of July 1, 2024, Azerbaijan's retail price of AI-92 gasoline increased by 10 qepiks to 1.10 manats per liter, and diesel fuel rose by 20 qepiks to 1 manat per liter. The Tariff Council has pledged to reduce the price of Premium gasoline from 2 manats to 1.6 manats per liter starting July 15. Despite environmental justifications, officials emphasize that "even after the tariff changes, retail prices for AI-92 gasoline and diesel fuel remain low compared to most countries." However, the specific countries used for comparison were not disclosed.
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Azerbaijani President Ilham Aliyev signed into law amendments to the 2024 state budget, aiming to support the State Program on the Great Return, strengthen defense capabilities, and enhance national security, the Ministry of Finance announced.
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