DHL Global Forwarding Logistics Represented in Baku
The first step to creating a hub of logistics in Azerbaijan has been made. The Executive Director of the German company DHL Eastern Europe Kerem Behcet Inanc also led the local representative.
The subsidiary DHL Global Forwarding Azerbaijan is registered in the Ministry of Taxes and entered the Ministry’s registry with nominal registered capital of 100 manat.
Recall, the agreement on the establishment of a logistics hub for the transit of goods from China to Europe was reached in Istanbul on May 22 at a meeting of heads of CJSC Azerbaijani Railways, DHL representative for Eastern Europe in the face of Inanc and the DHL representative in China Steve Huang.
DHL with headquarters in Bonn and the main hub in Leipzig was founded in 1969 and is a leader in the global logistics market. More than 5,000 offices operate in 120,000 cities of 200 countries. They have 300,000 employees. --17D-
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- Social
- 26 October 2016 15:22
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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