On January 18, the closure of the Azerbaijani branch of the company Champion Technologies Russia & Caspian BV (https://goo.gl/lpmv2M) was announced. This company operated in Baku since 2004 and represented a wide range of specialized reagents, as well as provided technical solutions to problems encountered in the oil and gas industry. The founder of this company was a Texas company CS-US Holdings, Inc (USA).
The Turkish company Seha that had 23 years of experience in Azerbaijan for the sale of electrical products and electrical equipment also closed. The owner of this company Bahri Tupuz (https://goo.gl/7Gleqy) has been accused of having links with Hizmet Movement announced in Turkey as a terrorist organization.
The company Nil Kitap Kirtasiye Sanayi Ltd. Sti that celebrated the 20th anniversary of its activity in Azerbaijan in 2016 is also said to be in touch with the movement Hizmet. It announced today the transformation and change of name to LLC Axent Kirtasiye. The company has a network of stores selling stationery. ---08B
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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