The 28th of November - the Azerbaijani-Latvian business forum
Baku business center will be on November 28 another place of business meetings of Azerbaijani and Latvian businessmen.
The Fund Export Promotion and Investment in Azerbaijan (AZPROMO) told Turan that the business forum will be attended by representatives of Latvian companies offering partnership Azerbaijani counterparts in finance, construction, food industry, agriculture, engineering, transport and logistics, tourism, pharmaceuticals, metal, plastic and glass packaging, etc.
The last time a business forum on the official level was held in Riga in January 2011 during the visit of President Ilham Aliyev to Latvia. In Baku in June of the same year was held Azerbaijani-Latvian business forum on the "green" economy, on the problems of restoring the environment. - 08D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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