Created Ltd. Azerbaijan International Telecom at the Ministry of Communications and High Technologies
By the Order of the State Committee for Property Affairs of June 22, the Center for International Relations and Calculations (TSMSR) of the Ministry of Communications and High-Tech was converted (INN9900048721) into a limited liability company Azerbaijan International Telecom (short title AzIn Telecom ).
The company told Turan that while the procedure of state registration of the LLC and the definition of its share capital continues.
TSMSR has been acting since 1994. One of the main functions of the organization is to conclude agreements with international operators for the implementation of communication services (telephone, telegraph, telex, e-mail and use of the channels), as well as the product of inter-state calculations on them. It offers certificates of conformity for equipment and telecommunication devices.
In 2013 TSMSR served 9,684 international communication channels. 08B
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- Photo sessions
- 25 June 2015 15:43
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- Economics
- 25 June 2015 16:22
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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