Ganja Automobile Plant (GaAZ) plans to expand its production capacity. To this end, it has recently signed a memorandum with the Minsk Automobile Plant (MAZ) and a license agreement with JSC KamAZ (Russia).
According to the press service of GaAZ, during the visit of Director General of MAZ Dmitry Katerinich to Azerbaijan the sides signed a memorandum of cooperation, providing for the opening of centers for sales and service, and selling the output to third countries.
Ganja was also visited by the General Director of JSC KamAZ Sergey Kogoghin, which in general was satisfied with the condition of assembly of trucks at the plant.
In 2014, Azerbaijan collected 284 units of trucks (+ 15%) and 1,265 tractors (+ 71%).
The average salary of automakers in Azerbaijan is 291.2 manat per month, which is 2.4 times less than the average in the industry in 2014. ----08D
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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