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AHK Azerbaijan Newsletter | 29.04.2022
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Dear AHK member,
we are pleased to invite you to the Kick-off Meeting of the Energy Transition Working Group of AHK Azerbaijan today, 29 April 2022, from 11:00 to 12:30 which will take place at AHK Azerbaijan office (Winter Park Plaza, 7th floor, 75 Rasul Rza Street) in cooperation with our member company, Uniper Global Commodities SE.
At the first meeting, we would like to collect the inputs of our member companies, carry out a general review of the energy sector in Azerbaijan and determine the current challenges faced by member companies and to discuss the next joint steps.
The main aim of the activities of Energy Transition Working Group is to address the key challenges of the energy industry including regulation of the local energy market, renewable and alternative energy generation capacities, tendering process and funding opportunities, energy transmission and export infrastructure as well as to enhance the exchange of knowledge and expertise, to hold informational events on key topics in the field and to strengthen communication with relevant government agencies.
The meeting will be held in English. The meeting is for AHK members only and is free of charge. Upon entrance you will need to show your immunity certificate or a valid COVID-19 vaccination passport.
We are looking forward to welcoming you at the meeting!
For more information about the working groups, please click on the link.
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Dear AHK members and partners,
We are pleased to invite you to participate in the next AHK Impuls event on Wednesday, 11 May 2022, from 12:00 to 14:00 which will take place at Hyatt Regency Baku, Hyatt Hall (6 Izmir Str.).
AHK Impuls will be dedicated to tax legislation and administration in Azerbaijan and the honorary guest speaker of the event is Mr Orkhan Nazarli, Chief of the State Tax Service under the Ministry of Economy of the Republic of Azerbaijan.
Please inform us beforehand, if there is a specific question, suggestion or challenge that you are facing with regard to tax legislation and administration in Azerbaijan. Your questions and suggestions will be addressed anonymously.
The event will be held in Azerbaijani and will be simultaneously translated into English.
To participate please, register for the event by completing the e-form until 6 May 2022. Upon entrance you will need to show your immunity certificate or a valid COVID-19 vaccination passport.
AHK Impuls event provides you with an excellent chance to showcase your company and services (including 15 minutes’ company presentation) or to make a presentation about the relevant topic. Please, do not hesitate to contact us if you are interested in endorsement opportunities.
The participation of one person from the member company is free of charge. For each additional participant from the member companies, the participation fee is 30,00 AZN. Non-members are charged 50,00 AZN per person.
We are looking forward to welcoming you at AHK Impuls!
Further infomation is available on our website.
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From June 20 to 24, 2022, AHK Azerbaijan together with RENAC AG is organising the business trip "Renewable Energy in Azerbaijan" for German companies to Azerbaijan within the framework of the project Export Initiative Energy of the German Federal Ministry of Economics and Climate Protection. Within this four-day business trip, German companies and key Azerbaijani stakeholders will have the opportunity to participate in the German-Azerbaijani Sustainability Forum on June 21, 2022, focusing on "Renewable Energy in Azerbaijan".
The business trip offers you the opportunity to get to know the current market situation on-site in more detail and enables a professional and solution-oriented exchange between the relevant market participants. German companies will gain access to the country's key operators through B2B meetings, visits to government agencies, roundtable discussions, and company visits.
Take advantage of this opportunity to access new business opportunities, get to know projects, and expand your professional business network on site!
Please register via this link.
Should you have any further questions, please contact Ms. Turkan Maharramova (E-Mail: turkan.maharramova@ahk-baku.de, Tel: +994 12 497 63 06).
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We would like to inform you about IFAT 2022, the world’s leading trade fair for water, sewage, waste and raw materials management, to take place in Munich from 30 May till 3 June 2022.
IFAT is held every two years at Messe Munich and brings together more than 3.000 exhibitors. Exhibitors from all over the world present here their latest products and services on environmental solutions. The exhibition ranges from wastewater treatment over air purification to drainage and soil treatment technology. By participating in this exhibition, you can benefit from the technical supporting program.
Here, you can find more information about the trade fair and the tickets. AHK Azerbaijan will be delighted to support your participation at IFAT 2022.
Should you have any further questions, please feel free to contact Ms. Turana Yagubova via Email (events@ahk-baku.de) or by phone (+994 12 497 63 06/07).
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There are in total 792.545 confirmed cases with 9.709 recorded deaths within the country, while 782.728 patients have recovered. A total of 108 people are placed under quarantine in Azerbaijan. Over the past period, more than 6.808.651 tests have been carried out in Azerbaijan to identify new cases of coronavirus (COVID-19) infection.
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Measures to remove some restrictions in the quarantine period
The Republic of Azerbaijan extended the quarantine period until 1 July 2022, and as of 1 May 2022, the requirement to use personal protective tools (medical mask, cloth mask, respirator, etc.) will abolish. The use of medical masks is no longer mandatory and only recommended.
AZAL to resume flights between Baku and Berlin
Azerbaijan Airlines will resume flights between Baku and Berlin starting on 29 May 2022. The airline will operate special flights on the Baku-Berlin-Baku route twice a week - on Tuesdays and Sundays. Flight tickets for these and other flights performed by AZAL can be booked on the official website of the Airline (www.azal.az) and the carrier's accredited agencies.
More
Note: AHK Azerbaijan is following a rotational shiftwork and remembering all health and safety compliances. We are available to our members and clients during this time and can be reached by e-mail or mobile phone (+994502076097).
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If you feel ill stay at home and call
the health hotlines: 103, 113 and 1542!
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| Here you will find the most important direct sources of information for Azerbaijan as well as for the postponed and cancelled trade fair events in Germany. |
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The current loan portfolio of projects of the European Bank for Reconstruction and Development (EBRD) in Azerbaijan was estimated at 823 million euros as of April 1, 2022, Trend reports with reference to EBRD. The loan portfolio is aimed at the implementation of 33 projects.
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Most of the project portfolio (88 percent, or 724 million euros) is directed to investments in sustainable infrastructure, eight percent or 69 million euros to investments in industry, trade, and agricultural sector, and four percent or 30 million euros to investments in financial institutions.
EBRD has generally invested over 3.4 billion euros on 181 projects in Azerbaijan. EBRD provided loans in the amount of 17 million euros for the implementation of six projects in Azerbaijan and over the past four years, this figure has reached 857 million euros for lending to 34 projects in the public and private sectors.
EBRD has been cooperating with Azerbaijan since 1992 and EBRD is the country's leading investor.
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The total amount of the approved subsidies in Azerbaijan from June 2020 to April 1, 2022, was 69.4 million manat ($40.8 million), Azerbaijani Minister of Economy Mikayil Jabbarov said on Twitter, Trend reports.
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The upgrade of forecasts on Azerbaijan's macroeconomic indicators for 2022 in the April review of the International Monetary Fund (IMF) is primarily due to the acceleration of the recovery of the Azerbaijani economy, the IMF told Trend.
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According to the IMF, a successful vaccination campaign and a decline in COVID-19 infection rates in Azerbaijan also helped improve the prognosis.
"Another factor which accelerated the growth of the Azerbaijani economy and influenced our forecast is high oil prices, which will provide even greater economic growth in the short term," added the IMF.
According to the IMF’s upgraded forecast, the surplus in Azerbaijan's balance of payments will amount to 37.2 percent of GDP, the Azerbaijani economy will grow by 2.8 percent, and the country’s GDP will stand at $54.73 billion in 2022.
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German companies can contribute to expanding the capacity of Southern Gas Corridor (SGC), German Ambassador to Azerbaijan Wolfgang Manig told Trend.
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It could take years for Austria to stop gas supplies from Russia, Austrian Chancellor Karl Nehammer said in an interview with OE24.TV, Trend reports citing TASS. More
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Greece could provide important know-how to Azerbaijan and participate in common renewable energy projects via its research and academic institutions, Deputy Minister of Foreign Affairs for Economic Diplomacy of Greece Kostas Fragkogiannis said in an exclusive interview with Trend.
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The Greek deputy minister noted that as both countries are very interested in the renewable energy sphere, there is ample room for strengthening the cooperation and taking advantage of synergies on a mutual benefit basis.
“Cooperation between Greece and Azerbaijan is foreseen in the Memorandum of Cooperation signed in 2009 in the field of RES and energy efficiency. Greece could also provide important know-how to Azerbaijan and participate in common RES projects via its research and academic institutions,” he added.
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On 19 April 2022, the next online meeting of the Financial Services Working Group took place with the participation of more than 40 company representatives. The meeting was focused on the economic impacts of the pandemic and emerging risks for recovery.
After the opening remarks by Tobias Baumann, Evgenia Gashikulina welcomed the participants and the guest speaker - Werner Claes, Member of the Supervisory Board of AccessBank and noted that he was a professional with over 20 years of extensive experience in the banking sector, particularly in the fields of risk management, modelling and operational efficiency.
In his presentation, Werner Claes shared his views from a more global and holistic perspective, talking about the tools that can help businesses deal with crisis situations. He expanded on these issues, touching upon several topics related to economic impact and interconnectivity, means to fight the crises in international markets, climate theme and managing under extreme uncertainty.
The meeting was moderated by Evgenia Gashikulina and the presentation by the guest speaker was followed by an engaging question and answer session.
For more information about the event, please click on the link.
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Upcoming events
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Contact person Supported by: |
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Zinyat Amirova
Market Analysis and Communications
AHK Azerbaijan |
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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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