Azerbaijani economy

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Azerbaijan and Turkey increase trade turnover

Azerbaijan and Turkey increase trade turnover

In June 2019, the trade turnover between Turkey and Azerbaijan increased by $644.300 million, compared to June 2018, and amounted to $789.259 million, a source in the Ministry of Commerce of Turkey said. "In June 2019, …

Shah Deniz 2 awarded by Royal Academy of Engineering

Shah Deniz 2 awarded by Royal Academy of Engineering

The engineers behind the Shah Deniz 2 project have received the Royal Academy of Engineering’s Major Project Award for 2019 for their collaboration to deliver this complex major offshore, onshore and pipeline gas development project, …

Azerbaijan starts top quality carbamide exports

Azerbaijan starts top quality carbamide exports

The first shipments of Azerbaijani carbamide in bulk from the SOCAR Carbamide plant have started in late May. Carbamide is loaded into tip-trucks at the SOCAR Carbamide plant and transported to the Hovsan international sea port for …

Moody's affirms Azerbaijan's debt rating

Moody's affirms Azerbaijan's debt rating

Moody's Investors Service has affirmed the government of Azerbaijan's long-term issuer and senior unsecured debt ratings at Ba2, according to a press release by Moody's. It is reported that the stable outlook was …

Azerbaijan's Central Bank cuts refinancing rate

Azerbaijan's Central Bank cuts refinancing rate

Azerbaijan’s central bank cut its refinancing rate to 9% from 9.25%, the CBA press service reported. The central bank also adjusted its rate corridor, setting an upper boundary at 11% and a lower boundary at 7%, compared to 7.25 …

"Macroeconomic situation stable in Azerbaijan"

"Macroeconomic situation stable in Azerbaijan"

The Central Bank of Azerbaijan has cut the discount rate from 9.75% to 9.25%, chairman of the CBA Elman Rustamov said at a press-conference in Baku. According to him, there are no prerequisites in Azerbaijan for the …

Ilham Aliyav: Azerbaijan economy independent

Ilham Aliyav: Azerbaijan economy independent

President of Azerbaijan Ilham Aliyev wishing citizens of the country Happy New Year and International Day of Solidarity with the Azerbaijani People spoke about economic success of the country in 2018. The leader of the country said that …

Russia and Azerbaijan to be linked by joint oil ventures

Russia and Azerbaijan to be linked by joint oil ventures

Russia and Azerbaijan plan to create joint ventures in the oil sector, Russian Ambassador to Azerbaijan Mikhail Bocharnikov said at a press conference in Baku. "Our plans envisage creating joint ventures in an …

Baku hosting 9th Russia-Azerbaijan Interregional Forum

Baku hosting 9th Russia-Azerbaijan Interregional Forum

The 9th Russia-Azerbaijan Interregional Forum has opened in Baku today. The event is aimed at developing trade, economic and humanitarian ties between the regions of the two countries, being a platform for joint work of Russia and …