Azerbaijan's Economy Demonstrates Resilience, Overcoming Dependence on Oil and Gas Exports

On Thursday, President Ilham Aliyev spoke at a high-level meeting dedicated to Azerbaijan's economic indicators and future strategies, emphasizing significant growth in the non-oil sector and outlining plans to maintain economic stability by the end of the year.

As part of efforts towards decarbonization, Samira Musayeva, Deputy Head of the State Tax Service at Azerbaijan's Ministry of Economy, met with a delegation from the World Bank during the International Carbon Pricing Forum in Baku. According to the State Tax Service, the meeting focused on exploring various approaches to carbon pricing and promoting sustainable economic development.

Baku, September 26, 2024 — On September 26, the 2nd Economic Forum of the member countries of the Azerbaijan-Gulf Cooperation Council (AGCC) officially opened in Baku. The event was organized with the support of the Ministry of Economy and the Agency for Export and Investment Promotion of the Republic of Azerbaijan (Azpromo).

In the first eight months of 2024, Azerbaijan's fruit and vegetable export sector experienced notable fluctuations, with a general decline in the physical volume and value of key export products. Compared to the same period in 2023, exports of fruits and vegetables decreased by 6.1% in physical volume and 3.3% in value, signaling a challenging year for the sector.