Today Russia and Kazakhstan will sign the documents on oil deliveries and military-technical cooperation, Yurii Ushakov, Assistant of Russian President, told journalists.
He said the documents will be signed after the talks between Russian and Kazakhstan Presidents Vladimir Putin and Nursultan Nazarbayev in Moscow.
He said the two countries also plan to sign the agreement concerning transportation of Russian oil to China via Kazakhstan, the protocol on amending the intergovernmental agreement on the oil transit and the protocol on amending the intergovernmental agreement on trade-economic cooperation in field of oil and oil products deliveries. Assistant President did not specify the content of the documents.
The agreement between Russia and Kazakhstan on duty-free oil deliveries to Kazakhstan expires on January 1, 2014. Russian Vice Premier Arkadi Dvorkovich said earlier that until the end of the year Russia hopes to find an agreement on oil deliveries with Kazakhstan. In November 2013 the sides signed the preliminary agreement on the oil transportation via Kazakhstan and the transit guarantees.
Rosneft President Igor Sechin said that as a part of the agreement with Kazakhstan, Rosneft plans to pump 7 million tons of oil a year since 2014 and it will pay $2.3-2.5 billion a year to the Russian budget, if oil is exported to China via Kazakhstan. The deliveries will be based on a swap scheme. From January 1, 2014 Kazakhstan will transport the same volume of its oil in exchange for Russian oil and Russia will transport it to China. The actual condition of the agreement is the transit fee.—0--
Economics
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Azerbaijan's President Ilham Aliyev signed a decree introducing changes to a number of presidential decrees aimed at amending the country's Tax Code in connection with the adoption of Law No. 98-VIIQD on December 16, 2024. The decree, published on Tuesday, introduces significant changes designed to simplify tax refunds for various goods and services and improve the rules for refunding value-added tax (VAT).
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SOCAR Türkiye Enerji AS (STEAS), the Turkish subsidiary of Azerbaijan's state oil company SOCAR, has announced an ambitious plan to build new production facilities for ethylene, polyethylene, and polypropylene (polyolefins) in Turkey. This initiative comes as the country grapples with a widening supply-demand gap, with nearly 90% of its polyolefin needs currently being met through imports.
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The tourism industry in Azerbaijan is experiencing remarkable growth in 2024, driven by post-pandemic recovery and strategic government initiatives. From January to November 2024, the country welcomed 2.412 million foreign tourists, marking a 27% increase compared to the same period in 2023. Projections suggest that the total number of visitors by year-end could reach 3 million, underscoring the sector's impressive trajectory.
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In the first 11 months of 2024, Azerbaijan's consumer market demonstrated steady growth, with the total value of goods and services reaching 67.4 billion manats, a 4.8% increase compared to the same period in 2023. This growth underscores the resilience of Azerbaijan's economy, which continues to adapt to global and domestic challenges.
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