Today in Baku, at the Hyatt Regency, the 14th Azerbaijan-German business forum started. This time a large business delegation arrived from the German federal state of Rhineland-Pfaltz headed by the head of the Department for External Relations of the Ministry of Land Economy, Environment, Energy and Cartography Julie Coulombe.
In the office of the German-Azerbaijan Economic Union (DAWF) they told Turan the forum was attended by representatives of eight German companies, which are in construction, transport and logistics, furniture industry, agriculture, etc.
The Ministry of Economic Development of Azerbaijan told Turan, that on August 30, the German delegation will visit the city of Ganja, which will host a similar event with the local business community.
Germany occupied seventh place in the geography of Azerbaijan's exports in the first half of 2012 with $ 520 million. During the same period Germany delivered to Azerbaijan goods totaling a declared value of $ 344.6 million, showing 7.7% and occupying the fourth place in the Azerbaijan imports. Azerbaijan delivers mainly crude oil to Germany, while Germany delivers products of automotive and mechanical engineering, power generation, power tools, household appliances, etc. -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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