Bilateral talks start between Azerbaijan and Russia on mutual recognition of customs control in respect of fruit and vegetables. Yesterday this order (http://government.ru/media/files/5ZzXsvfRToejuulpTjRjojriGTpm79Ai.pdf) was signed by the Russian Prime Minister Dmitry Medvedev.
In the case of unification of customs procedures between the two countries businessmen's transaction costs will be reduced by half, which will reduce the final cost of goods. It is an export of live trees, plants, flowers, herbs, fruits, vegetables, nuts, processed products and various foods. This means that if the local customs pass a shipment, the Russian side will not examine it in the case of advance transmission of information and provision of documents drawn up in accordance with the requirements of the protocol.
Russian experts believe that the Azerbaijani products are cheaper than their Russian analogues and our country could become an additional source of food for the Russians. --17D-
Economics
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The Eurasian Development Bank (EDB) is actively exploring the possibility of expanding its shareholder base to include neighboring countries such as Azerbaijan, Turkmenistan, and Mongolia. This was announced by EDB Chairman Nikolai Podguzov at a press conference on December 5, 2024, where he emphasized the importance of expanding the bank’s membership to foster sustainable growth.
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In 2023, the trade turnover between Azerbaijan and Turkey reached $7.5 billion, aligning with 50% of the target set by both nations, which aims for $15 billion in future bilateral trade. This milestone was shared by Barış Altıparmak, the World Turkish Business Council representative for Azerbaijan, during a meeting of the Eurasian Council of the organization in Baku.
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Azerbaijan's President Ilham Aliyev signed a decree on Thursday to establish the Nakhchivan Industrial Park in the Nakhchivan Autonomous Republic, aiming to foster competitive production and bolster entrepreneurial growth.
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SOCAR and Yokogawa Electric signed a Memorandum of Understanding (MoU) on Thursday to enhance their collaboration.
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