The quality of fuel manufactured in Azerbaijan will be increased up to Euro-3 standard till the end of 2014, Sabig Abdullayev, Director of the Institute of Standardization and Certification of the Azerbaijan State Committee for Standardization, Metrology and Patents, told journalists.
“We have been negotiating with SOCAR, which has been working to improve quality of manufactured petrol. We have concluded a cooperarion agreement with SOCAR. According to the agreement, the national standards will be applied, which will be use for design, construction and operation of a new oil refinery. This will be a six-year-long cooperation and we expect introduction of about 2,000 standards in various fields a sa result of this cooperation,” he said.
He said the draft decision of the Cabinet of Ministers on application of a new standard is ready and the publicity will be informed about its entrance into force.—0---
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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