Russian businessmen are interested in deliveries of cables, plastic pipes, high-voltage electrical equipment, production of solar collectors, electrical appliances, metal, plastic products and other non-food products from Azerbaijan.
The Russian delegation headed by the Minister of Economic Development Alexei Ulyukaev visited Sumgait Technology Park (STP), in force since 2009, for the first time. Azerbaijan was previously considered by businessmen of the northern neighbor as a platform for migration and agricultural imports.
According to the report of the Ministry of Economy and Industry of the Republic of Azerbaijan, the park operates 17 factories, which employ more than 4500 people. In the future, the number of plants in the STP will be increased to 30 and the number of employees will exceed 10 000. -17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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