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 President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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