Minister of Agriculture of Azerbaijan, Majnun Mammadov, at a meeting with a delegation headed by Roberto Perosa, Secretary for Trade and International Relations of the Ministry of Agriculture and Livestock of Brazil, called on Brazilian businessmen to explore investment opportunities in the agricultural sector of Azerbaijan.
Azerbaijan's trade performance in 2023 exhibited robust growth, with a positive trade balance and promising prospects for the balance of payments. The share of exports in the foreign trade balance stood at 72.4%, outpacing imports, which accounted for 27.6%. Throughout the year, the trade balance demonstrated a steady expansion, culminating in a significant increase from $13.87 billion in September to $15.73 billion by the end of November.
The second meeting on "green energy" in Baku on March 1 showcased Azerbaijan's commitment to renewable energy sources (RES) through significant partnerships and ambitious projects.
A key highlight of the event was the signing of a Memorandum between the State Agency for Renewable Energy Sources and WindEurope, a prominent European organization, focusing on cooperation in wind energy development. This partnership underscores Azerbaijan's ambition to harness wind energy potential, with a particular emphasis on the Caspian-Black Sea-Europe "green" energy corridor.
The 10th anniversary meeting of the Advisory Council of the Southern Gas Corridor (SGC) held in Baku on March 1 didn't herald euphoric announcements of capacity doubling by 2027, as envisioned in the EU-Azerbaijan Memorandum of July 2022. Instead, Azerbaijani officials, alongside the European Commission, acknowledged that future gas supply growth through the pipeline hinges on market demands.