SOCAR is not going to close its representation in Greece until closure of the deal to purchase share in the Greek gas operator DESFA, Greek media reported quoting their own sources.
Akram Zeynally, Azerbaijani Ambassador to Switzerland, said in his interview to the Russian newspaper Nasha Gazeta in Switzerland that SOCAR has closed its official representation in Geneva, because of slump of oil prices, but left the offices of SOCAR Trading and SOCAR Energy Switzerland. SOCAR Energy Switzerland manages the network of petrol stations in Switzerland.
While commenting this information SOCAR President Rovnag Abdullayev said that the decision to suspend operation of all foreign representations of SOCAR was made in December 2015.
“The functions of the representations have been passed to the office in Baku and the companies, which are fully owned by SOCAR. As any other company, we have taken steps in a response to slump of oil prices,” said Abdullayev.-0—
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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