Foreign companies are reducing their activities in Azerbaijan – the Ministry of Taxes of Azerbaijan informs on the latter two cases. The company Commonwealth Oil & Gas Company (USA) is closing the local office. Its lenders are asked to contact within 60 days to the address Baku, Sabail district, A. Zeynalli Street 14.
The local branch is also eliminated by the Irish company Merton Investments Ltd, inviting creditors to submit claims within 60 days to the address: Baku, Khatai District, Yusif Safarov Street, 1. --17D-
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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