In January-August this year, the volume of industrial production in Azerbaijan made up AZN 23 million. This is 3.3% lower than in the comparable period of 2011.
The State Statistics Committee told Turan that the share of non-oil sector accounts for AZN 4.2 bn of industrial production. In this sector, production increased for eight months by 7.9%. In the oil sector, because of the decline in mining, the production decreased 5.4%.
The share of mining industry from the beginning of the year accounts for 76.5%, processing industry - 18.2%, manufacturing, distribution and supply of electricity, natural gas and steam - 4.2%, etc. -08D-
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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