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Online sales platforms will not close - Anti-Monopoly Service
Baku/24.02.23/Turan: "The views disseminated in some media and social networks that restrictions will be applied to online sales platforms are not true". This statement was made by the State Antimonopoly and Consumer Market Control Service under the Ministry of Economy today.
The agency emphasises that it does not envisage any regulatory measures restricting the activities of local and foreign digital trading platforms in our country. "Citizens are free to use the services of local and foreign online sales platforms within the requirements of existing legislation," the statement said.
On the eve, media, quoting a representative of the Antimonopoly Service, reported that the agency was considering the application of regulatory measures against Turkish online sales platform "Trendyol" due to the lack of its storage facilities in Azerbaijan. This sparked anger and outrage on social media by users of the platform. -08B-
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- Energy
- 24 February 2023 16:07
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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