According to the International Labor Organization, the average salary in Azerbaijan is one of the lowest among the 71 countries for which data are available.
According to material published on the website InvestorSsholl.ru, the highest average wage in Luxembourg is 3,722 dollars a month.
Azerbaijan ranks one of the last on the average salary of $303, and is behind poor Georgia and Armenia, which rank 55th and 57th respectively with the index and $430and $404.
Azerbaijan’s index was below of many African and Asian countries, not to mention the poor European countries - Bulgaria, Bosnia and others. The worst situation is in the Republic of Moldova, Mongolia, Tajikistan, Kyrgyzstan and Syria. -02D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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