"Azerkosmos" will own the French Earth observation satellite
LLC "Azerkosmos" plans to own till the end of the year an Earth observation satellite "SPOT 7" by the French company "Airbus Defense and Space", and start its commercial operation.
The work on an agreement "On strategic cooperation", which will be signed between these structures is at its final stage, according to the press release of the Ministry of Communications and high technology . The document provides for a distribution of profits from joint use satellites "SPOT 6" and "SPOT 7", training of local staff in the management, and marketing of satellite exports of modern technology and knowledge by the company "Airbus Defense and Space" in Azerbaijan, and other matters.
On June 30 this year the company “Airbus Defence and Space” launched a satellite into orbit "SPOT 7" in the frames of cooperation with Azerkosmos.
Memorandum of Mutual Understanding on Cooperation in the field of observation services between Azerkosmos LLC and Airbus Defense and Space was signed in Baku on May 12, 2014. - 17D-
Economics
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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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