The Azerbaijan Foundation for Export and Investment Promotion (AZPROMO) has opened a representative office in Beijing, China. The head of the representative office is the entrepreneur Teymur Nadiroglu, Turan was told in AZPROMO.
The new office will play an active role in the export of Azerbaijani goods to China, attracting investment funds of this country to the Azerbaijani economy.
AZPROMO representations are set up abroad, taking into account the priorities of the foreign economic activity. Currently, the offices are in the UAE, the US, Britain, Austria, and Georgia.
Previously AZPROMO representations opened in Kazakhstan and Germany, but they are inactive for some reason.
Opening of new offices this year is not planned. --08B
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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