In the course of the Azerbaijani-Bulgarian business forum four treaties of intent were signed.
The main beneficiaries of the arrangements are government agencies, according to the Ministry of Economy of AR. For example, a memorandum of understanding was signed between the Azerbaijani Fund for Export and Investment Promotion (AZPROMO) and the Bulgarian Agency for the Promotion of Small and Medium Enterprises (BSMEPA). Besides, AZPROMO signed a document with the Bulgarian-Azerbaijani Chamber of Commerce. The Commerce and Industry Chamber of Azerbaijan also signed two cooperation agreements with BSMEPA and a similar to itself organization in Sofia.
Bulgaria is not the richest country in the European Union, and Azerbaijan is also experiencing an economic and financial crisis; so specific agreements on implementation of joint projects have not been reached between the specific business structures.
According to the State Customs Committee, in January-August export of Azerbaijani goods to Bulgaria amounted to $ 166,500, and imports amounted to $ 17.12 million. --17D-
Economics
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The visit to Azerbaijan by a Belarusian delegation led by Deputy Foreign Minister Igor Nazarchuk concluded with significant discussions aimed at strengthening economic and trade relations between the two countries. The delegation’s meetings with various Azerbaijani ministries, including those of economics, agriculture, and digital development, reflect an active approach to preparing for President Alexander Lukashenko's forthcoming visit to Azerbaijan for COP29.
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In the first eight months of 2024, Azerbaijan experienced a significant increase in international tourism, with 1,748,032 foreign tourists visiting the country—30% more than in the same period last year. This notable growth in foreign arrivals signals the strengthening of Azerbaijan's position as a tourist destination, although it still lags behind neighboring Georgia, which continues to dominate the tourism business in the South Caucasus.
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Chairman of the State Committee for Urban Planning and Architecture Anar Guliyev, revealed ambitious plans for the new Istisu settlement on social media, following the foundation-laying ceremony attended by President Ilham Aliyev in Kalbajar on September 2, 2024.
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As previously reported, the Istisu Mineral Water Plant was inaugurated on September 2, 2024, marking a significant advancement in Azerbaijan’s mineral water industry. President Ilham Aliyev and First Lady Mehriban Aliyeva attended the opening of this cutting-edge facility, which blends modern technology with a deep-seated tradition in mineral water production.
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