The Surplus of the Foreign Trade Balance Decreased by 2.1 Times

Under the leadership of Alhaj Nooruddin Azizi, the Acting Minister of Industry and Trade of Afghanistan, a trilateral meeting was held this week involving key representatives from Uzbekistan and Azerbaijan to strengthen cooperation in the sectors of trade, investment, and transport.

According to new data from the State Border Service, Azerbaijan has seen a significant surge in foreign visitors during the first seven months of 2024. A total of 1.5027 million foreigners and stateless persons arrived in the country from 182 countries, marking a 31.4 percent increase compared to the same period in 2023. The rise underscores the growing appeal of the country as a destination for international tourists and business travelers, supported by favorable travel conditions and economic opportunities.

Azerbaijan has implemented several key projects to create infrastructure for exporting its gas to the European Union, boosting its role as a crucial energy supplier amid growing demand in Europe, economist Gubad Ibadoglu said in an article. The Baku-Tbilisi-Erzurum gas pipeline, launched in early 2007, was one of the first steps. This pipeline, with an annual capacity of 8.2 billion cubic meters, is part of the 690-kilometer South Caucasus Pipeline (SCP), which facilitates the export of gas from Azerbaijan's Shah Deniz field to Georgia and Turkey.

After a four-day repair, the Oguz-Gabala-Baku water pipeline has been brought back into operation. The State Agency for Water Resources confirmed that the pipeline is now fully filled with drinking water and is functioning properly, with water reaching reservoirs in the Baku area. It is expected that the normal water supply for residents of the affected areas will be restored by noon on August 16.