In the first ten months of this year the number of participants of foreign trade activities in Azerbaijan declined compared to the same period of 2008 by 29.5%. The fact of narrowing the range of participants in imports and exports was presented, according to official data of the State Customs Committee.
According to the SCC, for ten months foreign trade operations involved 7,919 individuals and legal entities. More than half of them (4,296) are individuals. They accounted for $ 481 million, or 1.7% of foreign trade in January-October 2012. Foreign trade involved 3,623 private companies. According to the same source, for 10 months of 2008, import-export operations involved 4,045 legal entities and 7,180 individuals. The share of individuals in foreign trade transactions reached 5.3% ($ 426.8 million).
In 2003 individuals (3,945), owned 8.5% of Azerbaijan's foreign trade. Total active operations in overseas markets involved 6,756 businesses and individuals. - 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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