Strengthening Ties: Azerbaijan Hosts 2nd Economic Forum with Gulf Countries in Baku

On Thursday, President Ilham Aliyev spoke at a high-level meeting dedicated to Azerbaijan's economic indicators and future strategies, emphasizing significant growth in the non-oil sector and outlining plans to maintain economic stability by the end of the year.

As part of efforts towards decarbonization, Samira Musayeva, Deputy Head of the State Tax Service at Azerbaijan's Ministry of Economy, met with a delegation from the World Bank during the International Carbon Pricing Forum in Baku. According to the State Tax Service, the meeting focused on exploring various approaches to carbon pricing and promoting sustainable economic development.

In the first eight months of 2024, Azerbaijan's fruit and vegetable export sector experienced notable fluctuations, with a general decline in the physical volume and value of key export products. Compared to the same period in 2023, exports of fruits and vegetables decreased by 6.1% in physical volume and 3.3% in value, signaling a challenging year for the sector.

In his recent speech at the opening session of the National Assembly, Azerbaijan’s President Ilham Aliyev emphasized the importance of strengthening the country’s military potential and restoring the regions of Karabakh and Eastern Zangezur. This marks a notable focus in the state’s 2025 budget, which reflects a delicate balance between defense investments, social spending, and managing the declining revenues from the oil and gas sector, notes Dr. Gubad Ibadoghlu, an economist.