Czech entrepreneurs have invested in Azerbaijan's economy more than $ 1 billion, the Minister of Economy and Industry Shahin Mustafayev said at the bilateral business forum in Baku today.
According to him, Czech banks are involved in financing 6 major local projects worth nearly $ 2 billion, provided that companies from that country are contractors.
Main goods supplied from Azerbaijan to the Czech Republic are crude oil and partially refined petroleum products. Even though the trade turnover between the two countries increased by 2 times in 2014, it is necessary to work on the structure of the trade turnover, believes the minister, adding that the cooperation between the two countries has a robust regulatory framework, with 23 agreements signed in the economic sphere. --17D-
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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