LLC SOCAR-GPC with an authorized capital of USD 1,000 has been registered in Azerbaijan.
According to the official resource (the State Register of Commercial Entities), SOCAR-GPC was registered on August 19. Farid Jafarov was appointed the Director. He is the head of at least two commercial entities of SOCAR, SOCAR Polymer and SOCAR Polymer Investments.
The SOCAR press service did not respond to the request for plans to establish a new company, its possible cofounders and equity participation.
The information resource of SOCAR indicates the names of more than 40 joint ventures and alliances with the participation of foreign companies, created inside the country and abroad. -----08B
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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