On June 3 Sumgait hosted a forum on the topic "Efficient use of raw materials and material resources" in industrial plants. During the event, in which representatives of the business community, non-governmental organizations and government agencies took part, new approaches to solving this problem were discussed.
The forum was held under the "Resource efficiency and cleaner production," the United Nations Industrial Development Organization.
The main objective of the program is the efficient use of energy, raw materials and financial resources, reduction of solid and industrial waste.
This program in Azerbaijan involves several companies operating in the manufacturing sector. The effectiveness of the program objectives in the context of benefit to business, environmental protection and climate has been confirmed by the estimates in eight local enterprises in 2014. --08D
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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