Number of commercial structures in Azerbaijan rose by 10%

Azerbaijan’s Working Group on International Trade held its latest meeting on September 19, assessing the nation’s progress in enhancing its trading environment over the past year. Chaired by First Deputy Economy Minister Elnur Aliyev and Vusal Shikhaliyev, the session included representatives from various government agencies and the private sector.

Azerbaijan commemorates the 30th anniversary of its pivotal Production Sharing Agreement (PSA) for the Azeri-Chirag-Guneshli (ACG) oil fields, a cornerstone of the nation’s economic transformation. Signed on September 20, 1994, the PSA was extended in 2017 through 2049, ushering in the second phase of what is dubbed the “Contract of the Century.”

The heads of railway administrations from Azerbaijan, Turkey, Uzbekistan, Kyrgyzstan, Tajikistan, China, and Austria have signed a protocol establishing the International Association "Eurasian Transport Route." The agreement, formalized during an advisory meeting, signifies a major step toward enhancing cooperation on the growing Eurasian logistics network.

A London-registered company, Stackt, founded by Rashad Aliyev, won the Azerbaijani startup competition, marking the first time the country has hosted a regional qualifying round of the global Startup World Cup.