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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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