The Regulations on the State Seed Fund under the Ministry of Agriculture of Azerbaijan entered into force on 31 October.
According to the document, the Fund aims to collect store, update, use the seeds of crops, providing producers of agricultural industry. The Fund is also involved in the regulation of prices for seeds, preventing a rise in price in the event of natural disasters, and provides them with insurance.
In addition, its representatives have the authority to require from the sellers of relevant products and the import documents as sold seed, inspect commodity seed lots, as well as seeds, used in crops.
The Fund was established under the presidential decree on March 2, 2015. Initially, AZN 10 million was allocated for its activity. --17D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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