The volume of Azerbaijan's investments in Russia is $1 billion, while Russia's investments in Azerbaijan reach $3 billion. These statistics were quoted by Deputy Minister of Economy of Azerbaijan Sahib Mammadov during the meeting by the commission for economic and humanitarian cooperation between the governments of Azerbaijan and St. Petersburg. According to the press service of the Ministry of Economy of Azerbaijan, 170 agreements on 50 economic spheres have been signed between the two countries. "About 700 enterprises with Russian capital operate in Azerbaijan. In 2016, the trade turnover between Azerbaijan and Russia increased by 10.5 percent and amounted to $ 2 billion. Russia is one of the main trade partners of Azerbaijan, "Mammadov said. -03D-
Economics
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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Kazakhstan has taken another step towards reducing its dependence on traditional oil export routes, as the first shipment of crude oil from the giant Kashagan field reached the Baku-Tbilisi-Ceyhan (BTC) pipeline at the end of January. In an interview with Kazinform, experts consider this move as part of a broader strategy to diversify transit options and hedge against geopolitical risks.
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The State Oil Company of Azerbaijan (SOCAR) and Yokogawa Europe BV have organized an "Executive Workshop" as part of a broader cooperation framework established under a Memorandum of Understanding (MoU) signed between the two companies, SOCAR said in a statement.
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