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Tag Archives: Azerbaijan

Landmark Caspian Sea Deal Signed by five Nations

Turkmenistan, Russia, Azerbaijan, Iran, Kazakhstan, agreed in principle on Sunday how to divide up the potentially huge oil and gas resources of the Caspian Sea, paving way for more energy exploration and pipeline projects. However, the delimitation of the seabed – which has caused most disputes – will require additional …

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Azerbaijan May Double Wine Exports in 2018

Azerbaijan may increase wine exports twice by the end of 2018, Chairman of the Azerbaijan Wine Producers and Exporters Association Elchin Madatov told Trend July 19. “The export of Azerbaijani wine products exceeded $4 million in the first half of 2018, which is 80 percent more than in the same …

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TBC Expands on Azerbaijan Market Buying Local Bank’s Share

JSC TBC Bank, a subsidiary of TBC Bank, has signed a contract with Nikoil Bank, aiming to expand its bank business in Azerbaijan. In particular, according to the agreement, the Azerbaijani subsidiary of the bank TBC Kredit becomes the owner of Nikoil Bank’s share. It takes bank regulator’s consent to …

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Georgia, Azerbaijan and Germany Expand Cooperation on Real Estate Management

Azerbaijan, Georgia and Germany have discussed the prospects of state property management, the possibility of attracting investment in privatization and exchange of experience in this field. The meeting, held in Tbilisi on July 21, was attended by Chairman of Azerbaijan State Committee on Property Issues Karam Hasanov, Head of Georgia National Agency of …

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Italian Companies Invested about $530M in Azerbaijan

In general, Italian companies has invested in Azerbaijan about $530 million, and the volume of Azerbaijani investments in Italy is estimated at $135 million. Azerbaijani Economy Minister Shahin Mustafayev made the remarks during a meeting with Deputy Minister of Economic Development of Italy Michele Geraci in Baku on July 19. …

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EBRD Supports Modernisation of Private Bus Operator in Azerbaijan

The EBRD is improving public transport in the capital of Azerbaijan by supporting the acquisition of 35 new buses with a loan of the €6 million in Azeri manat equivalent for Baku, the country’s major political, administrative, financial and cultural centre with a population of around 3 million. The loan …

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Chinese Companies Invested $800M in Azerbaijan

Chinese companies have invested about $800 million in Azerbaijan, Azerbaijani Economy Minister Shahin Mustafayev said during a meeting with the Ambassador of China to Azerbaijan Wei Jinghua. Addressing the meeting, the minister stressed that Azerbaijan attaches special importance to cooperation with China. Speaking about the development of relations with China …

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Azerbaijan Wants to Increase Hazelnut Exports to Europe

Azerbaijan Hazelnut Producers and Exporters Association (AHPEA) intends to expand the geography of hazelnut exports in the European market, the association’s Chairman Ismayil Orujov told Trend. He said that last week Azerbaijan Export and Investment Promotion Foundation (AZPROMO) organized an export delegation to Switzerland, and about 12 Azerbaijani producers took …

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Swiss Stadler reveals time of delivering cars to Azerbaijan for BTK

Stadler to President Cars for BTK Railway in September

Swiss Stadler Rail Group will deliver the first batch of cars to Azerbaijan for the Baku-Tbilisi-Kars (BTK) railway in March 2019, Matthias Stöhr, sales director for Caucasus, Russia, Ukraine at the company told Trend. “The cars are now in the stage of final assembly. One car is already finished and …

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Azerbaijan Invested $51m in Georgia’s Economy in Q1 of 2018

Azerbaijan invested $51 million in Georgia`s economy in the first quarter of this year, becoming its second largest investor, according to the Georgian media. With $82.7 million investment, the UK is Georgia`s largest investor, while China is third with $41.6 million. The total volume of the investment made in Georgia`s …

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