The hotel Four Seasons in Baku on June 21 will host a business forum organized by the Black Sea Trade and Development Bank (BSTDB) as part of the 15th annual meeting of the members of the Governing Council (GC). This year, completed a one-year term of presidency of Azerbaijan in SU BSBTD.
The Foundation to Promote Exports and Investment in Azerbaijan told Turan that the work of the Business Forum will bring together representatives of different spheres of business entities from 10 countries, including Greece, Italy, Serbia, Jordan, Russia, Turkey, etc. The forum will discuss the achievements and investment opportunities offered by Azerbaijan, the international investment community.
Managing in the Black Sea Bank of Azerbaijan is the Minister of Finance Samir Sharifov and the alternative manager is the Minister of Economic Development Shahin Mustafayev.
BSTDB was founded by 11 countries in 1996 with the aim of integration between them and to promote their economic development. The bank started its activity in 1999. The authorized capital of BSBTD is 3 billion SDR (1 SDR = 0.66 USD). The share of Azerbaijan's participation in the bank's capital is 5%. - 08D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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