Indonesia is interested in development of trade-economic relationships with Azerbaijan, despite quiet a distance between the countries, Irman Gusman, chairman of the Indonesian Council of Regional Representatives, told journalists at the end of last week.
He added that considering a developed oil industry of Azerbaijan, Indonesia would like to establish cooperation in this field. Gusman said that at present Indonesia is a big oil importer. "For this reason we have offered the Azerbaijani government to consider a possibility to build an oil refinery in Indonesia," Gusman added.
He said the Azerbaijani government took the proposal with understanding. Guzman apparently has in mind the November visit of President Ilham Aliyev to Jakarta, where this question was discussed.
* The governments of Kyrgyzstan, Tajikistan and Georgia have requested the Azerbaijani government to build oil refineries in these countries. Various companies have also requested State Oil Company of Azerbaijan (SOCAR) to buy shares of the oil refineries in Italy and Ukraine. However, SOCAR decided to invest capital into construction of STAR oil refinery in Izmir, Turkey, which is going to start in 2013.-0--
Economics
-
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.
-
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."
-
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.
-
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.
Leave a review