Deputy Foreign Minister Khalaf Khalafov received a Japanese delegation yesterday. Takeshi Hikihara, Special Minister of the Caucasus, Central Asia and Guam, led the group.
Hikihara called Azerbaijan an important country in the region and a strategic state for Japan.
Referring to the February 7 launch of the first Azerbaijani satellite, the Japanese diplomat said that his country has a great experience in this matter and is ready to share it with Azerbaijan.
Khalafov noted the ongoing political dialogue between the two countries and welcomed cooperation in all areas, including the fields of education and culture. Referring to economic cooperation, Khalafov mentioned the important role of Japanese companies operating in Azerbaijan, and the significance of Japanese experience in the field of communication technology. He also discussed the expansion of inter-parliamentary cooperation between the two countries. -04D-
Economics
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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.
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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."
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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.
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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.
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