On Wednesday hte Parliament began consideration of Azerbaijan's state budget for next year.
According to Deputy Economy Minister Sevinj Hasanova, the government is considering a further increase in customs duties. "The decision was taken in order to protect domestic production and market," she said.
Under the law, the Cabinet of Ministers makes a verdict on the basis of monitoring and the final decision is taken by the head of state.
Recall from November 1, tariffs increased for 2 years on imports of certain agricultural products, building materials and non-alcoholic beverages, which affected the purchasing power of consumers. As a result, prices rose also for goods produced in Azerbaijan. --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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