Global standards for local ICT
Standards ISO 27000 "Information Security", ISO 20000 "Systems of information technology management" and ISO 22301 "Stability processes" will be applied in the field of ICT.
This topic will focus on the international forum in Baku October, said the press release from the State Committee for Standardization, Metrology and Patents. Organizers of the event will be the Institute of Standardization and Certification of Azerbaijan together with the British Standards Institute.
The main objective of the forum is use in Azerbaijan of the international ISO standards in this area, to identify opportunities to integrate standards into existing sphere.
The forum will include presentations by representatives of leading Russian telecommunications companies and the British Standards Institute. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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