Baku hosts an event on "The role of tourist sites in the promotion of beekeeping products."
Opening the meeting, Deputy Minister of Economy and Industry Sahib Mammadov spoke about the ways of the output of honey, wax, royal jelly and other natural products to international buyers. According to him, the quickest way is buying honey at hotels and recreation areas. "Hotels can use honey as food and at the same time promote its medicinal properties that can attract more buyers among domestic and foreign tourists," he said, recalling the specific benefits provided to farmers working in this direction.
"The properties and quality of domestic honey are known, but local entrepreneurs need to think about competitive products and about bringing them, including packaging, to international standards.
According to him, local honey is promoted and sold in all international forums of entrepreneurship, but this is not enough. The entrepreneurs also should seek markets and should ensure high quality of their products.
During the event, the organizers presented an exhibition of products of local beekeepers. -17-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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