In 2012, in the Nakhchivan Autonomous Republic (NAR) was established 21 legal persons and liquidated 22 companies. According to experts, this trend indicates a low level of development of private business in this autonomy.
According to the State Statistics Committee, the NAR, as of 1st January 2013 there are 1832 statistics reporting units, including state agencies and local governments. According to local media, business in this autonomous region is concentrated in the hands of the Supreme Mejlis of Nakhchivan Vasif Talibov, a relative of President Ilham Aliyev. Talibov controls "Cahan Holding" "Gemiqaya Holding", which produce the bulk of GDP of Nakhchivan. - 08B-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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