The delegation headed by the director of the State Civil Aviation Administration (SCAA) of Azerbaijan, Arif Mammadov, will participate in the 39th Session of the Assembly of the International Civil Aviation Organization in Montreal, Canada from 27 September to 7 October.
According to SCAA, the provisional agenda includes the current activities of the global framework, topical issues of safety, aviation security and the environment.
On September 26, the second World Aviation Forum (IWAF-2016) in Montreal will consider the identification of needs and the establishment of the conditions necessary to increase the pace of implementation of global standards of civil aviation.
The Azerbaijani delegation in the framework of the events will hold bilateral meetings with the heads of administrations of foreign states. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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