On 2 August the SOCAR president Rovnag Abdullayev was received by the Turkish President Erdogan within the frameworks of the international high-level forum of investors. During the meeting they discussed issues on implementation of joint economic projects, press service reported. Erdogan praised the activity of SOCAR in Turkey. During the meeting of Abdullayev with the Energy Minister Berat Albayrak were touched the joint projects. The parties noted that the recent military coup attempt has not had a negative impact of the implementation of projects in Turkey and all are continuing in accordance with the approved schedule. In particular, it concerns the TANAP and STAR projects, engineering work successfully continue without delay, Albayrak said. The sides also touched upon the situation around the petrochemical company Petkim (controlling interest belongs to SOCAR), whose leaders were arrested on charges of having links with supporters of Fatullah Gulen. According to Albayrak, the events around Petkim have nothing to do with of SOCAR, and were the result of an investigation attempts of the coup.-03D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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