ECONOMY

The Chairman of the State Customs Committee, Shahin Baghirov, has explained the importance of transitioning to the implementation of a single electronic declaration in multimodal transport. “Elchi” reports that during the discussion of the draft law on amendments to the Customs Code at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry and […]

At the initiative of Azerbaijan Airlines (AZAL), one of the AZCON Holding companies, a group of 36 graduates from the National Aviation Academy (NAA) was sent to Lleida, Spain, on April 25 and 29, 2026, to participate in a professional development training program. The goal of the program is to strengthen the professional training of […]

Pirated or counterfeit goods can be abandoned in favor of the state. “Elchi” reports that this is reflected in the proposed amendment to the Customs Code, which was discussed at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship. According to the draft, when a decision is made that goods crossing […]

The World Bank (WB) has updated its forecast for the average price of Brent crude oil for 2026-2027. As reported by “Elchi”, citing the bank’s April forecast. According to the forecast, the average price of Brent crude oil will be 86 US dollars in 2026 (26 dollars more than the previous forecast) and 70 dollars […]

Participants of the event dedicated to “Entrepreneur’s Day” on the topic “Development of entrepreneurship is a strong economy” have addressed the President of Azerbaijan Ilham Aliyev. “Elchi” reports that the text of the appeal was read by Sevda Əlizadə, Executive Director of Malham International Hospital.

The World Bank has raised its gold price forecasts for 2026 and 2027. “Elchi” reports this with reference to the Bank. According to the forecast, the average price of gold is expected to be $4,700 per troy ounce in 2026. This represents a 37% increase compared to 2025. Compared to the World Bank’s previous forecast […]

The price of “Azeri Light” (CIF) brand Azerbaijani oil has increased in world markets. elchi reports that the price of 1 barrel of Azerbaijani oil has increased by 2.04 US dollars, or 1.79%, to 115.89 US dollars. It should be noted that the previous price of Azerbaijani oil was 113.85 US dollars. Recall that in […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi‘s information states that on April 29, the exchange rate of the US dollar remained unchanged at 1.7000 manats, and the Turkish lira was 0.0377 manats. The Euro depreciated to 1.9899 manats, and 100 Russian rubles depreciated to 2.2600 manats. Currency Code Rate 1 […]

The value of futures for one troy ounce (31.1 grams) of gold has increased in commodity markets. “Elchi” reports, citing stock exchange data, that the value of June 2026 gold futures per troy ounce on the New York COMEX commodity exchange increased by 0.22% to 4,618.55 US dollars. The price of May 2026 silver futures […]

Duty-free trade special customs procedure and its scope are being defined. “Elchi” reports that this is reflected in the new Chapter 33-1 proposed to the Customs Code, which will be submitted for discussion at the Milli Majlis meeting to be held on May 1. According to the draft, duty-free trade is a special customs procedure […]