Deficit in the balance of travel services for the three quarters reached 300 million U.S. dollars
Travel services for a total of $ 1.5 billion were provided to foreigners in Azerbaijan in January-September 2012. This is $ 667 million, or by 80.1% more than in the corresponding period last year.
Of the total volume of exports of tourism services 32.6% were non-residents costs incurred in the course of business travel to Azerbaijan.
In turn, according to the balance of payments, the amount of travel services provided to residents of Azerbaijan abroad, for the period increased by $ 648.7 million or 56.3% to $ 1.8 billion, of which 63.2% was spent in private foreign travel. - 15B -
Economics
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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