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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Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.
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Agricultural land in Azerbaijan's liberated territories may be leased to business entities through investment tenders. This is reflected in the draft law on proposed amendments and additions to the "Law on Land Lease." The document was discussed at the meeting of the Agrarian Policy Committee of the Milli Majlis (Parliament) on October 14.
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According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.
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Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.
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