The IMF mission which arrived in Baku had talks in the Ministry of Economy, and discussed the issues of minimizing the negative of lower oil prices in the world. According to the Ministry of Economy, it was also affected by the expansion of cooperation between Azerbaijan and the IMF. The IMF delegation were adopted by the State Oil Fund, where they discussed issues of cooperation. The IMF and Azerbaijan do not have talks on attracting an urgent package of international financial assistance, reads the official information. "SOFAZ said that Azerbaijan has sufficient foreign exchange reserves and the macroeconomic situation is stable. The meeting raised the topic "Azerbaijan's transition to a new economic model in the strategy of Ilham Aliyev, the program". The report dioes not say what exactly is this strategy and model. -02D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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