In the evening of 18 April Baku Business Center will host a business meeting arrived in Azerbaijan group of businessmen from the People's Republic of China with local counterparts.
The Foundation to promote exports and investment in Azerbaijan told Turan, that the Chinese business mission included representatives from the construction, ICT, tourism, real estate, logistics, production of trucks and construction equipment, wood processing, food processing, etc.
The trade turnover between Azerbaijan and China in 2012 totaled $ 816 million, which is 22.3% more than the year before. The share of imports of Chinese goods accounted for $ 632.3 million is 0.6% more than in 2011.
The main part of Azerbaijan's exports accounted for crude oil - 187,355.8 tons ($ 159,815.2 million). To China it also sold polyethylene (12.8 thousand tons, $ 12,369.1 million), iodine - (97 tons, $ 3,234.6 million), and other products. From China comes to Azerbaijan consumer goods, as well as vehicles, electrical appliances and equipment, pipes and other products made of black metal. For example, in 2012, was purchased in China 8 earthmoving machines and units for drilling tunnels with a total value of $ 62.6 million, and 2,257 trucks of 5-20 tons, totaling $ 70.5 million, etc. - 08D -
Economics
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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Azerbaijan's State Statistics Committee announced on Tuesday that the monthly statistical reporting system for retail sales and services has been revised to enhance transparency and accuracy.
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The State Oil Company of Azerbaijan (SOCAR) is examining opportunities in geothermal energy in partnership with U.S. companies as part of Azerbaijan's efforts to advance renewable energy. SOCAR President Rovshan Najaf and John Wallace, CEO of DeGolyer and MacNaughton, met in Baku to discuss initiatives including geothermal energy projects and carbon capture, utilization, and storage (CCUS) technologies, SOCAR announced on Tuesday.
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On Tuesday, the Turan E-Commerce and Export Forum in Baku unveiled the new "Made in Turan" trademark, marking a bold step toward uniting the economic potential of Turkic states under a single label. This initiative aims to stimulate trade and strengthen economic ties among the member states of the Organization of Turkic States (OTS).
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