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Tag Archives: Azerbaijan

Azerbaijan Doubles Import of Georgian Wine

January saw a growth in the import of Georgian wines. Azerbaijan imported 5,790 bottles of wine from Georgia in early 2019, the National Wine Agency of Georgia told Report. This is a two-fold increase compared to January 2018. Last month, Georgia exported 6.25 million bottles of wine to 24 countries, which is 22 …

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EBRD is Ready to Invest in Climate Finance Projects in Azerbaijan

The European Bank for Reconstruction and Development (EBRD) would like to invest in climate finance projects in Azerbaijan, Head of EBRD Baku office Ivana Duarte told Trend. Duarte noted that EBRD will be ready to look at bankable projects across a variety of sectors with focus on diversification of economy. …

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World Bank Forecasts Azerbaijan’s Economy Growth Coming Year

The World Bank (WB) forecasts Azerbaijan’s economy growth at 3.6 percent in 2019, Trend reports with reference to the “Global Economic Prospects” report by the WB. According to the report, this figure will be 3.3 percent in 2020 and 2.7 percent in 2021. Growth rates in the Europe and Central …

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Azerbaijan Increases Wine Imports from Georgia

Azerbaijan has increased import of Georgian wine, having acquired 197,724 bottles of wine last year, the Georgian National Wine Agency reported. In annual comparison, wine import from a neighboring country grew by 40 percent. In 2018, Georgia exported 86.2 million bottles of wine to 53 countries, that is 13 percent more …

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Georgia’s Approach to Gas Market Set to change

Georgia is getting ready to reform its gas market by putting in new energy legislation. The demand for natural gas is increasing each year and Georgia’s gas contracts are expiring. Geopolitics make Georgia’s energy security even more vulnerable, given that the country doesn’t have enough local gas resources to satisfy …

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Georgia and Azerbaijan to Open Joint Enterprises

According to the Head of Government, the meetings in Baku discussed joint projects poised to boost the economic relations between Georgia and Azerbaijan. “As you know, free trade is in force between our countries, though there are some flaws. We must expand the framework of our free trade with Azerbaijan …

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We Need to make Additional Efforts to Increase Trade Turnover

“Georgia and Azerbaijan are strategic partners. Our kind neighboring and friendly relations have been exemplary throughout centuries” stated Mamuka Baktadze, Prime Minister of Georgia at a face to face meeting with Ilham Aliyev, President of the Republic of Azerbaijan in Baku today. Host leader expressed his gratitude to the Georgian …

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Georgia’s PM Mamuka Bakhtadze to visit Azerbaijan

Prime Minister of Georgia Mamuka Bakhtadze will visit Azerbaijan on August 30. Mamuka Bakhtadze will hold a number of meetings with Azerbaijani officials in Baku. Further strengthening of the strategic partnership between the two countries, the processes taking place in the world and the region and the prospects for the …

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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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