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AHK Azerbaijan Newsletter | 04.02.2025 |
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The major news highlights of the day
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➡️ New Members in our AHK Community! ➡️ Azerbaijan to host ECO's Clean Energy Center ➡️ SOCAR, Yokogawa Europe mull energy efficiency, decarbonization
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New Members in our AHK Community!
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We are thrilled to announce the addition of 4 dynamic new members to our AHK Azerbaijan family! 🎉
Please join us in welcoming:
✈️Azerbaijan Airlines CJSC – Azerbaijan's leading aviation company, with operations across national air services, air traffic control, aviation fuel supply, and more.
🌍 ECOVIS AZ LLC – A global consulting firm offering expertise in tax, accounting, auditing, legal advice, and more, with a strong presence in Azerbaijan since 2023.
🌐 IHK für Rheinhessen – A chamber of commerce supporting businesses looking to expand their international footprint, offering valuable connections and resources to navigate global markets.
💼 Value Business Group LLC – A leading service provider specializing in outsourcing, event management, hospitality, training, and more.
These incredible members bring valuable expertise and fresh perspectives to our community, and together, we’ll drive innovation, create new partnerships, and unlock exciting opportunities! 💡🤝
Let’s embark on this journey together and make a lasting impact! 🌟
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Tax, Customs, and Legal Affairs WG Meeting: Planned Changes in Tax Legislation & Budget Policy
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On January 28, 2025, the next meeting of the AHK Azerbaijan Tax, Customs, and Legal Affairs Working Group took place. The meeting focused on discussions regarding the planned changes in Tax Legislation.
Guest speaker Rashad Nuriyev, Head of the Tax Policy Department at the State Tax Service provided detailed information to the participants about the draft law on changes to the Tax Legislation, prepared as part of the tax policy for the upcoming year's budget.
During the meeting, the main goals set forth in the draft law regarding the promotion of the investment environment and entrepreneurial activity, reduction of the tax burden on business entities, improvement of tax administration (tax control mechanism), and enhancement of the country's position in international rankings were emphasized. Additionally, the importance of steps taken towards the development of regulations in public-private partnership (PPP) projects, digitalization, and coordinating platforms for rental services was noted.
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SOCAR, Yokogawa Europe mull energy efficiency, decarbonization
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The State Oil Company of Azerbaijan (SOCAR) and Japan's Yokogawa Europe B.V. (a subsidiary of Yokogawa Electric Corporation) have discussed issues of energy efficiency, digitalization, and decarbonization, according to SOCAR's page on X, Report informs.
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It is noted that as part of the Memorandum of Understanding signed between SOCAR and Yokogawa, a working workshop was held with the participation of strategic management and leading specialists of the State Oil Company of Azerbaijan.
"During the workshop, extensive discussions and exchange of views took place on issues of value chain optimization in oil refining, modernization and expansion projects, as well as energy efficiency, digitalization, and decarbonization," the information states.
It was earlier reported that SOCAR and Yokogawa Electric signed a memorandum of understanding in December 2024. The memorandum provides for the expansion of inter-corporate cooperation. According to the document, the parties will cooperate to optimize production, improve energy efficiency, decarbonization, reduce emissions, as well as digitalization and other areas, and will explore opportunities for joint projects.
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Azerbaijan to host ECO's Clean Energy Center
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Azerbaijan will host the Clean Energy Center of the Economic Cooperation Organization (ECO), APA reports.
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According to the report, this is reflected in the draft law "On Approval of the Charter of the Clean Energy Center of the Economic Cooperation Organization", which was included in the agenda of today's session of the Milli Majlis (Azerbaijani Parliament).
The Clean Energy Center is an organization that unites the collective efforts of member states to promote renewable energy and reduce the impacts of climate change.
The draft law was put to a vote and passed in a single reading.
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MP: Azerbaijan aims to increase share of renewable energy to 40.4% by 2035
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There is great potential for the use of renewable energy sources in Azerbaijan, Sadig Gurbanov, chairman of the Parliamentary Committee on Natural Resources,
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Energy and Ecology, stated at the first plenary meeting of the Milli Majlis’ spring session held Monday, Report informs.
According to the MP, the technical renewable energy potential of Azerbaijan on land is estimated at 135 gigawatts, and 150 gigawatts at sea : "Taking into account the current pace of development, Azerbaijan aims to increase the share of renewable energy in installed capacity for domestic consumption to 33.1% by 2027, to 35.1% by 2030, and to 40.4% by 2035."
Gurbanov recalled that currently several companies are implementing renewable energy projects in the country, and interest in this field is growing: "It is projected that a total of $2.5 billion will be invested in six solar and two wind energy projects in Azerbaijan by 2027."
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EBRD unveils new five-year strategy for Azerbaijan
The European Bank for Reconstruction and Development (EBRD) has unveiled its new country strategy for Azerbaijan, setting the stage for a focused investment and policy agenda over the next five years, Trend reports.
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Azerbaijan’s economy has long been dependent on oil and gas exports, and the EBRD aims to reduce this reliance by bolstering the competitiveness and inclusiveness of the private sector. Key initiatives will target small and medium-sized enterprises (SMEs) in non-oil sectors such as agribusiness, manufacturing, services, ICT, and infrastructure. A particular emphasis will be placed on supporting female- and youth-led businesses, driving innovation, and enhancing export capabilities.
Alongside fostering a more competitive private sector, the EBRD’s strategy also focuses on accelerating the country’s shift to a greener economy. Azerbaijan has significant potential for renewable energy, and the bank plans to back the growth of solar and wind projects, improve energy efficiency, and enhance climate resilience. Another key component of this transition involves strengthening the country’s energy grid to facilitate the export of renewable energy.
The EBRD also intends to leverage Azerbaijan’s strategic location at the crossroads of Europe and Asia. Investments in sustainable transport networks, digital infrastructure, and municipal projects will further enhance Azerbaijan’s regional connectivity, with a specific focus on the Middle Corridor.
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Azerbaijan's trade turnover with EAEU countries increases over year - PM
Azerbaijan's trade turnover with the countries of the Eurasian Economic Union (EAEU) increased by more than 14 percent last year, the Prime Minister of Azerbaijan Ali Asadov said during his speech at the meeting of the Eurasian Intergovernmental Council in Almaty, Trend reports.
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“Our interaction with EAEU member partners today is filled with numerous mutually beneficial projects in various spheres. We are particularly pleased with the steady positive dynamics of trade and economic interaction. Azerbaijan's trade turnover with the EAEU countries increased by more than 14 percent last year,” he said.
According to him, investment interaction between the member countries of the organization is also developing along an increasing line.
“A large package of investment projects is being implemented between our countries. We have established joint investment funds with some of our partners to mobilize mutual investments in various sectors of the economy. This initiative is already bearing fruit.
Many mutual visits took place between our countries last year, both at the level of heads of state and at the level of heads and members of government. This is evidence of the intensive dialog between our countries at various levels,” Ali Asadov added.
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Belgian trade mission to visit Azerbaijan
The trade mission of Belgium to Azerbaijan is scheduled for February 16-19, Stef Goris, chairman of the Board of Directors of the Belgian-Azerbaijani Chamber of Commerce (Belgazercom), wrote in LinkedIn, Report informs.
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"It's our honor to inform you that on December 11, 2024, ‘Belgazercom - The Belgian-Azerbaijani Chamber of Commerce NPO’ was established by notarial deed, and published in the Belgian Official Gazette on December 18, 2024. Our association today has about 20 Belgian and - for the time being - three Azerbaijani members/companies and is managed by a Board of Directors consisting of four Belgian entrepreneurs," he wrote.
"Our first activity is an upcoming visit by our Board of Directors to AzPromo, the Azerbaijan Export Agency, in Baku, from February 16 till February 19. We hereby invite all possibly interested Belgian companies to participate in this trade mission, which also aims to provide targeted B2B meetings."
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Azerbaijan's Agroservis OJSC announces tender for auto spare parts
Azerbaijan's Agroservis OJSC under the Ministry of Agriculture has announced a tender for the procurement of spare parts and car repair services.
The participation fee for the procedure is set at 350 manat ($205.8).
Those interested in participating in the tender must submit their proposals by 11:00 (GMT+4) on February 20, 2025. The opening of the tender packages will also take place on February 20 at 11:00 (GMT+4).
Additional Information:
Phone number: (+99451) 226-28-93.
Contact person: Pakiza Salakhova (s.pakize@aqroservis.gov.az)
Address: 1965 Ziya Bunyadov Avenue, Baku, Azerbaijan.
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Azerbaijan's Azercosmos bids tender for insurance services
Azercosmos Space Agency has announced a tender for voluntary medical insurance for its employees.
Participation in the procedure costs 250 manat ($147.06).
Those wishing to participate in the tender should send their offers until 08:00 (GMT+4) on February 19, 2025. The tender package will be opened at 08:00 (GMT+4) on February 19, 2025.
Additional information:
The telephone number: (+99412) 310-00-55.
Contact Person: Nilufer Guluzadeh.
E-mail: tender@azercosmos.az
Address: 72 Uzeyir Hajibayli street, Nasimi district, Baku city.
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Azerbaijan's national depository center bids tender for audit services
The National Depository Center (NDC) of Azerbaijan announces a tender for audit services engagement.
The cost of participation in the tender is 43.83 manat ($25.7).
Those wishing to take part in the tender should send their proposals by 12:00 (GMT+4) on February 13 this year. Opening of tender packages will take place at the same time (February 13 at 12:00 (GMT+4).
Additional Information:
Phone number: (+99412) 538-31-90.
Contact person: Zulfugar Gaibov.
E-mail: tender@mdm.gov.az
Address: 2A G.Zardabi avenue, Baku city.
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Azerbaijan investment holding bids tender for software maintenance services
Azerbaijan Investment Holding has announced a tender for the purchase of technical support services and revision of 1C software.
The cost of participation in the procedure is 89.27 manat ($52.4).
Those wishing to participate in the tender should send their offers until 17:00 (GMT+4) on February 12, 2025. Opening of tender packages will take place on February 12, at 17:00 (GMT+4).
Additional Information:
The telephone number: (+99412) 599-87-80 (domestic - 2950)
Contact person: Afgan Gojayev (afqan.gojayev@aih.az)
Address: 6, Azerbaijan avenue, Sabail district, Baku city.
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Azerbaijan's Aztelecom to purchase software licenses via tender
Aztelecom company, under the Azerbaijani Ministry of Transport, Communications, and High Technologies, has announced the tender for the purchase of software (Think-Cell) licenses.
The tender participation fee is 30.25 manat ($17.79).
Those wishing to participate must send their proposals till 16:00 (GMT+4) February 7, 2025.
The tender packages will be also opened at 16:00 on February 7.
Additional information:
Phone: (+99412) 344-00-00 (int. 2243)
Contact: Aysel Abbasova (aysel.abbasova@aztelekom.az)
Address: 187 Moscow avenue, Baku, Azerbaijan
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Azerbaijani Prosecutor General's Office bids tender for attraction of car repair services
The General Prosecutor's Office of Azerbaijan announced a tender for the purchase of Hyundai car repair and oil change services.
The cost of participation in the tender is 250 manat ($147).
Those wishing to take part in the tender should send their offers until 17:00 (GMT+4) on February 6, 2025. Opening of tender packages will also take place on February 6 at 17:00.
Additional Information:
Phone number: (+99412) 492-64-80.
Contact person: Parviz Adigozalov (adgozalov.parviz@prosecutor.gov.az)
Address: 7, Nigar Rafibeyli Street, Baku.
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All events
Contact person
Zinyat Amirova Market Analysis and Communication Department
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Deutsch-Aserbaidschanische Auslandshandelskammer | Alman-Azərbaycan Xarici Ticarət Palatasι | German-Azerbaijani Chamber of Commerce Winter Park Plaza, 7th floor 75 Rasul Rza Str.; 1014 Baku, Azerbaijan; +994 12 497 63 06/07
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