On May 10, the Baku Business Center hosted a business meeting with a delegation of the Emirate of Qatar, led by the head of the Business Development Department of the State Investment Agency, Sheikh Abdulaziz Ali al-Thani.
The Ministry of Economy held a presentation of the State Investment Company and Sumgait Chemical and Industrial Park. The Azerbaijani government is trying to attract investment to the non-oil economy via these two structures.
Note that investment activity between the two countries is not high. Foreign trade turnover between Azerbaijan and Qatar did not exceed US $ 0.5 million in 2014-2015 (according to the State Customs Committee of Azerbaijan). ------08D
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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