The level of self-sufficiency in packing materials from plastic mass in Azerbaijan is 63%, paper and cardboard packaging - 57%, and glass bottle packaging, etc. - 33%. This was announced on February 14 at the Baku Business Center during an event on the theme “The role of packaging industry in the development of processing industry.”
At the event, in addition to representatives of industrial enterprises, associations of business organizations took part: the Association of Producers and Exporters of Wines, the Association of Manufacturers of Building Materials and the Association of Beekeepers.
The country has about 20 companies producing packaging materials. To increase production and create new capacities entrepreneurs may take advantage of the investment incentives, which in addition to exemption from import duty and VAT on the import of equipment, are valid from 2016, and other benefits: exemption from taxes on property and land, and 50% of the income tax.
Last year, this opportunity was used by several companies. --08D
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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