JSC Capital Bank has become a member of the US-Azerbaijan Chamber of Commerce (USACC).
The bank reports that its initiative aims to increase international cooperation and attraction of foreign investments. For 20 years USACC specializes in the realization of oil contracts, but now there is also progress in the field of agricultural industry, tourism, ICT and alternative energy sources.
The history of Capital Bank (former Savings Bank) is more than 140 years. Today its shares (99.87%) are owned by Pasha Holding plus individuals (0.13%). --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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