The private sector share in export of goods from Azerbaijan in 2014 amounted to only 6% ($ 1 billion 121 million). According to the State Customs Committee, the volume of exports of goods by the private sector decreased by $ 260.1 million or 19%.
"Given the fact that virtually all exports of the private sector accounted for the non-oil sector, we can say that 2014 was a bad one for entrepreneurs in terms of access to foreign markets, says the economist Rovshan Agayev. According to his calculations, the last 4 years the volume of exports of goods produced by the private sector in Azerbaijan increased by only $ 58.5 million.
The expert also stressed other negative trends in the economy: in 2011 the share of non-oil exports to non-oil GDP was 5.2% and in the past year this figure dropped to 4%. In other words, in each 100 manat formed in the non-oil GDP the added value of AZN 4 “returns” to the country by exporting goods. In Georgia, where in 2014 the volume of exports of goods amounted to $ 2.8 billion, this figure rises to 25%, and in Estonia - 40%. ---08D
Economics
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Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
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International Energy Agency (IEA) Executive Director Fatih Biröl underscored the importance of tripling global renewable energy capacity by 2030 and doubling energy efficiency during his remarks at a ministerial meeting in Baku on Friday, emphasizing that these issues would be central to discussions at COP 29.
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During COP29, the Ministerial Meeting on Climate and Innovation Dialogue of the United Nations Special Programme for the Economies of Central Asia (SPECA) marked a milestone with the signing of a declaration to establish the SPECA Climate and Innovation Dialogue and the launch of the SPECA Multilateral Trust Fund.
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Kazakhstan's Vice Minister of Energy, Ilyas Bakhytzhan, highlighted the ambitious sustainability and environmental security plans shared by Central Asian countries and Azerbaijan during a joint event with IRENA and Azerbaijan's Ministry of Energy at COP29.
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