For Nine Months, Fees from State Social Protection Fund Increased by 20.6%

Azerbaijan's President has ratified a significant economic cooperation agreement with Albania, paving the way for expanded trade and investment between the two nations. The "Agreement on Economic Cooperation between the Government of the Republic of Azerbaijan and the Council of Ministers of the Republic of Albania," initially signed on March 1, 2024, in Baku, encompasses various sectors including energy, transport, and tourism.

In a significant crackdown on illegal fishing activities, the Border Service of the National Security Committee of Kazakhstan, in collaboration with border agencies from of Russia and Azerbaijan, has successfully curtailed poaching in the Caspian Sea, preventing potential damages estimated at over 2.3 billion tenge ($5.2 million).

China has solidified its position as the leading importer to Azerbaijan, overtaking other countries in terms of the volume of goods imported during the first two months of the year, according to data from Azerbaijan's State Statistics Committee (SSC). During January and February, Azerbaijan's foreign trade turnover reached approximately $6.4 billion, with imports accounting for $2.65 billion or 31.7 percent of the total.

In a significant move to enhance their energy partnership, Azerbaijan and Saudi Arabia signed several key documents on May 3rd, aimed at expanding their collaborative efforts in renewable energy and climate change initiatives.