On 20-21 November the Summit of the US Atlantic Council took place in Istanbul summit. The event entitled "Energy and the Economy" was attended by US Vice President Joe Biden and Prime Minister of Turkey Ahmet Davutoglu. SOCAR’s President Rovnag Abdullayev spoke at the conference "Energy security in the 21st century and its most important sources," the press service of SOCAR. The forum participants discussed the issues of security of energy sources and energy infrastructure, analyzed the impact of geopolitical factors on the production and transportation of oil and gas, the need to protect them from terrorist threats, local conflicts, development of joint action by the international community to ensure the smooth operation of energy infrastructure. -02D-
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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