Customs processes in Azerbaijan, Georgia, and Kazakhstan loosened

According to Samed Garalov, Deputy Head of the Customs Control Department and Simplification of Trade of the State Customs Committee of Azerbaijan, the authorities of Azerbaijan, Georgia, and Kazakhstan want to sign a draft trilateral agreement to streamline transit.

He remembered that the Asian Development Bank had helped fund the development of this project in 2016. "An agreement between our nation and Georgia has already been inked. Kazakhstan is expected to sign it. In addition, the Georgian side has set January 1st, 2023, as the start date for this system," Garalov stated at the conference "On the Prospects for the Development of International Road Transportation in Azerbaijan."

This arrangement will make it easier for carriers to use the track's corridor.

Azerbaijan and Austria debate possibility of bilateral cooperation

Azerbaijan and Austria discussed opportunities for cooperation in commerce, economy, transportation, ICT, agriculture, food security, energy, tourism, and culture. The conversation took place in Baku during the 10th meeting of Azerbaijan and Austria's joint committee on economic, agricultural, industrial, technical, and technological cooperation. Participants addressed the present situation of economic, scientific, and technological cooperation between the two nations during the conference.

Azerbaijan's Digital Development and Transport Minister Rashad Nabiyev said that the two nations' diplomatic ties had a 30-year history while discussing cooperation problems. Nabiyev stressed the significance of sharing information about Azerbaijani and Austrian exporters and their goods on a regular basis, as well as developing direct commercial ties. In this context, the joint commission was mentioned as an efficient platform for facilitating information sharing and establishing new commercial relationships. Furthermore, the minister expressed optimism that the commission's 10th meeting would be beneficial to the growth of bilateral relations.

The minutes of the joint commission on economic, agricultural, industrial, technical, and technological cooperation between Azerbaijan and Austria were signed after the meeting.

Austrian firms have indicated interest in a full assessment of prospective partnership prospects in the solar energy and hydropower industries in Azerbaijan's reclaimed lands. The sides agreed that there is potential for collaboration in the sector of renewable energy in Azerbaijan, particularly in the reclaimed territories, during the meeting. The attendees also learned about the strategic goals set for expanding Azerbaijan's usage of green energy.

Israeli Agriculture and Rural Development Minister visited Azerbaijan 

President of Azerbaijan Ilham Aliyev received Israeli Minister of Agriculture and Rural Development Oded Forer. The meeting focused on economic relations between Azerbaijan and Israel, and prospects for cooperation in the field of agriculture. The sides exchanged views on the application of modern Israeli technologies in Azerbaijan's agriculture. They confidence that Forer's visit will contribute to the expansion of cooperation in the field of agriculture.

Noting that food security is a priority for all countries, including Azerbaijan, the head of state spoke about the work done in Azerbaijan to develop agriculture. Aliyev noted a significant increase in local agricultural production and exports, but also said that work was being done to minimise dependence on imports.

Oded Forer noted the good cooperation between the relevant agencies of the two countries in the field of agriculture, stressed the importance of the Caspian Agro 2022 - International Agricultural Exhibition in Baku. He also welcomed the arrival of representatives. Noting that Israel has a good experience in the field of agriculture, the minister expressed satisfaction with sharing this experience with his Azerbaijani counterparts. Oded Forer said that the Nagorno-Karabakh region also has good potential for cooperation, given that the development achieved in Azerbaijan has created great opportunities. 

Israeli Agriculture and Rural Growth Minister Forer stated that the development of economic cooperation with Azerbaijan, notably in the agricultural sector, is very important to his country. He made the statements during a meeting with Mikayil Jabbarov, the Azerbaijani Economy Minister. Oded Forer indicated interest in Israeli enterprises participating in rehabilitation projects in Azerbaijan's freed regions during the meeting.

Mikayil Jabbarov emphasised the 30th anniversary of the two nations' diplomatic ties as well as continuous efforts to enhance high-level bilateral commercial cooperation. The minister discussed Azerbaijan's favourable business and investment climate, the economic potential of the country's freed areas, and partnership prospects. He encouraged Israeli businesses to take advantage of the favourable business climate in Azerbaijan and urged for aggressive cooperation.

The parties talked about possible areas of collaboration in the economy, food security, water management, agriculture, and scientific research. 

In 2021, Azerbaijan opened its first Trade and Tourism Representative Office in Israel, and the two nations' trade turnover was $928.4 million.

Economy Minister of Azerbaijan: "Europe invests over $20bn in Azerbaijani economy"

According to Economy Minister Mikayil Jabbarov, Europe has spent more than $20 billion in the Azerbaijani economy during the last ten years. He made the statements during an EU-Azerbaijani business summit. The minister highlighted that the EU is Azerbaijan's most trustworthy trade and economic partner. "Azerbaijan employs about 700 European enterprises. This year, trade between Azerbaijan and the EU is projected to increase," he stated. Jabbarov noted that Azerbaijan's GDP expanded by 5.6% in 2021, and that other metrics, such as oil and gas and non-oil businesses, have also improved. "Since the beginning of 2022, the output of non-oil goods has increased by roughly 40%, contributing to an increase in tax income. We're dealing with a sum of $250 million," he specified.

“Azerbaijan is an appealing commercial partner for the European Union,” according to EU Ambassador to Azerbaijan Peter Michalko. He noted that the EU values the Azerbaijani government's efforts to boost the economic sector. In this respect, he stated that the EU will help 25,000 small and medium-sized enterprises (SMBs) in Azerbaijan as part of its business assistance programme. "I'd want to urge European firms to invest in Azerbaijan, where the economic climate is expected to improve even further in the future," he added. Michalko stressed the importance of the Southern Gas Corridor project in this area, noting that Azerbaijan is also one of the EU's primary energy partners. He also mentioned that the development of alternative energy initiatives has a lot of promise. "Ties between the EU and Azerbaijan have increased even further since last year," he added, citing trips to Baku by Charles Michel and Oliver Várhelyi, as well as President Ilham Aliyev's participation in the Eastern Partnership meeting in Brussels in December.

Furthermore, Mikayil Jabbarov added that Azerbaijan continues to deliver energy resources to the European market without interruption and expects the amounts to increase. He stated that the oil and gas business, as well as the transportation sector, are the primary areas of collaboration between Azerbaijan and the EU. "We also expect alternative energy growth and expanded collaboration in this area," he added. Azerbaijan is a centre for freight transit to EU nations and other markets, according to Jabbarov. The minister further stated that the restoration of the freed lands is a top priority for the Azerbaijani government. He mentioned that massive road and infrastructure construction is now underway, and that industrial zones are in the planning. "All cities and villages in [Nagorno]-Karabakh have been demolished," he claimed, adding that "our former displaced folks will soon return to their own lands." Furthermore, Bogdana Efe, the chairman of the EU-Azerbaijan Business Forum, indicated that the number of EU firms interested in investing in Nagorno-Karabakh is increasing. The minister noted that the Zangezur corridor will provide new prospects in the field of transportation for all nations in the area. He emphasised that work is being done not just in the realm of road and infrastructure building, but also in the realm of social infrastructure. "In order to expand public-private partnerships, the government of Azerbaijan creates suitable initiatives to attract corporations for this activity," he stated.

Labour migration from Turkey to Azerbaijan decreased dramatically

According to TurkicWorld, the number of Turkish citizens travelling to Azerbaijan for work between January and April 2022 has declined drastically, according to the General Directorate of Turkish Employment Agency (ISKUR).

According to ISKUR, the number of Turkish citizens who visited Azerbaijan through the agency declined by 77.8% from the same time in 2021.

In all, 5,560 Turkish residents used ISKUR to go overseas during the reporting period, a 45.9% increase over January to April 2021.

In April 2022, ISKUR supplied employment to a total of 139,443 Turkish nationals. Men make up 62.6% of the population, while women make up 37.4%. In April 2022, the number of unemployed people in Turkey was 3.5 million, down 1.4% from the same month the previous year.

Azerbaijan and European Bank for Reconstruction and Development to sign agreements in alternative energy sector

Azerbaijan and the European Bank for Reconstruction and Development (EBRD) will sign agreements connected to the alternative energy sector according to EBRD Head of Azerbaijan Kamola Makhmudova during the EU-Azerbaijan business event.

She mentioned that the bank has previously executed green technology initiatives in Azerbaijan, assuring the safety of industrial waste. This occurred in big cities, according to Makhmudova, and it will continue in the future. "The EBRD is also involved in other significant projects, particularly in agriculture and transportation, as well as alternative energy. The bank intends to increase its involvement in the alternative energy sector," she stated. Makhmudova further stated that essential agreements would be signed by the end of May as part of the building of power plants with 230 mW and 100 mW installed capacity. She also mentioned that the bank is willing to share its experience with Azerbaijan in the area of improving overpayment control. She emphasised that banking sector changes should focus on enhancing control of overpayments, and that the EBRD's engagement with Azerbaijan's governmental entities in this regard is critical. "Within these activities, we are willing to share our knowledge with banks and the authorities," she added. The EBRD office chief also stated that the Azerbaijani economy is growing, and the country's investment potential presents a chance to enhance foreign direct investment. "This has been made easier by recent changes and an expansion in the loan portfolio," she explained. She stated that the Central Bank of Azerbaijan is working to promote economic growth, job creation, and the use of preferential mortgages. "It's also important to emphasise the regulator's leading position in the field of population social security during the COVID-19 epidemic," she stated. She also stated that the creation of industrial zones in Azerbaijan, especially those in lands reclaimed from Armenian control, help to boost international direct investment.

Azerbaijan to get new project from European Investment Bank

The European Investment Bank (EIB) will start a new project in Azerbaijan, according to Maciej Czura, the head of the EIB's regional office in the South Caucasus, who spoke at the EU-Azerbaijan business event in Baku. "Our new programme, Eastern Partnership Investment in Connectivity (EPIC), will shortly be launched in Azerbaijan, providing technical help in the development and implementation of infrastructure projects," Czura added. According to him, this initiative would provide commercial prospects that will help to economic diversification and non-oil sector assistance.