In May, Gabala to host Azerbaijani-Turkish-Georgian business forum
The third Turkish-Azerbaijani-Georgian business forum will be held on May 21 in Gabala.
Previous discussions with senior economic ministers of the three countries were in Tbilisi (February 2012) and Kars (June 2012).
The Ministry of Economic Development told Turan, that the forum will discuss the prospects for expanding trilateral economic cooperation.
Presentations will also be held for new investment opportunities, bilateral and multilateral meetings of business circles of the three countries.
Azerbaijan, Turkey and Georgia are joined by close economic ties. On the territory of these countries are oil and gas pipelines Baku-Tbilisi-Ceyhan and Baku-Tbilisi-Erzurum gas pipeline. In the final stage the railway Baku-Tbilisi-Kars. -08D-
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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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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