Government Preparing for Serious Increase in Import Excise Rates

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.

A recent study by the Institute of Socio-Economic Transformation (ISET), the CASE analytical center, and the Economic Expert Platform has revealed that the State Oil Company of the Azerbaijan Republic (SOCAR) topped the list of taxpaying gas stations in Ukraine last year. According to the research, in 2023, SOCAR led in paying fuel taxes in three quarters and payroll taxes in two quarters, as reported by tsn.ua.