Directorate of the European Commission on Competition has postponed the term of consideration of the deal on purchase of 66% shares of Greek DESFA gas distribution operator by SOCAR.
It was earlier planned that the consideration will take place before March 23, but the final date of the procedure has been postponed till April 22, 2015.
In June 2013 Greece sold the bloc of shares (66%) of DESFA to SOCAR for 400 million Euro, However, the EU puts the obstacles to the actual handover of the shares.
While commenting on the deal earlier SOCAR President Rovnag Abdullayev said that Europe and Greece need the project more, than Azerbaijan.—0—
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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