Azerbaijan invited the Croatian companies to invest in agriculture, tourism, technology and chemical industry. This was said at the Azerbaijani-Croatian business forum by the head of the Azerbaijan Fund for Export and Investment Promotion (AZPROMO) Rufat Mammadov.
The business forum is held within the visit of the President of Croatia Kolinda Grabar-Kitarovic to Baku.
Addressing the event, the President of the Economic Chamber of Croatia Luka Burilovich reported that exports from Croatia to Azerbaijan amounted to 396 million dollars in 2015, which is 14% more than in 2014 year. Azerbaijan exported to Croatia goods in the amount of 392 million dollars.
During the visit, the President of Croatia also met with the President of SOCAR Rovnag Abdullayev and told him that in Croatia they are looking forward to the delivery of Azerbaijani gas to the Balkan countries through the Ionian - Adriatic Gas Pipeline.
Rovnag Abdullayev, in turn, said the Memorandum of Understanding between SOCAR and Croatia, Albania, Bosnia and Herzegovina and Montenegro on the construction of Ionian - Adriatic gas pipeline (IAP) was an important step for the energy security of the region. -71D-
Economics
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Vahid Magerramov, Head of the Public Association for Support of Agrarian Reforms, has raised concerns over rising consumer prices in Azerbaijan, warning that the inflation trend could have serious economic consequences for the country.
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Silk production in Azerbaijan decreased by 32.9% year-on-year in the first eight months of 2024, reaching 239.4 tons, according to data released by the State Statistics Committee. The decline was attributed to a reduction in the number of silkworm seeds distributed to farmers, reflecting a longer-term trend in the sector's contraction, noted agricultural expert Vahid Maharramov.
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Sunniya Durrani-Jamal has officially taken office as the new Country Director of the Asian Development Bank (ADB) in Azerbaijan, succeeding Candice Mcdagan, who held the position since 2021. Durrani-Jamal brings over 25 years of professional experience, including 16 years in senior roles at ADB, to her new position. She previously served as ADB’s Regional Director in Cambodia and Senior Advisor to the Vice President for East Asia, Southeast Asia, and the Pacific.
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Azerbaijan's drive to diversify its economy is faltering, despite years of policy announcements and state programs aimed at reducing reliance on the energy sector. The country has struggled to implement effective diversification measures, leaving it vulnerable to external economic pressures, analysts said.
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