A business forum which, according to the Fund of Azerbaijan Export and Investment Promotion, will bring together representatives of about 40 Czech companies, will be held during the visit of the Minister of Industry and Trade of the Czech Republic, Jan Mládek in Baku Business Center on March 3.
According to the State Customs Committee, in 2014 the trade turnover between Azerbaijan and the Czech Republic increased by 2.1 times, and amounted to $638 million, however, imports from the Czech Republic ($46 million) reduced by two times. We import hatching eggs, hops. pharmaceuticals, steel, air conditioning, refrigeration equipment, digital electronic equipment, motor vehicles, sodium cyanide, detergents, etc. goods. Azerbaijan's exports consists essentially of dig the oil, the volume of which last year increased by $ 376 million.
In 2014, investments of the Czech Republic in Azerbaijan amounted to 132.5 million manats, which is 2.7% of foreign investments. 08B
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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