Category: Azer News

The expansion of manufacturing in the Aghdam Industrial Park illustrates how investment in liberated territories can support employment, strengthen domestic production and introduce Azerbaijani goods to international markets. The production of specialist safety footwear and polyurethane boots links the rebuilding of Karabakh with the country’s ambition to develop a competitive non-oil economy.

The enterprise operating across 2.5 hectares in the industrial park manufactures protective footwear for industrial and working environments. Its products serve the domestic market and reach customers abroad, giving the facility a role in export development. Supplying these sectors creates opportunities for local industrial capabilities, skilled employment and stronger links between manufacturers and business customers.

The company’s disclosed export activity points to a growing international reach. In Kazakhstan, it has signed agreements with three companies and completed deliveries at different times. Further orders from the Central Asian market are under consideration, creating scope for deeper commercial relations. In Albania, an agreement with a local distributor envisages an initial shipment of 1,200 pairs of products, including natural-leather safety shoes with polyurethane soles and polyurethane boots. The order covers footwear in O4 and S5 safety classes and is ready for export.

The Canadian market adds another significant dimension. A Canadian company has ordered more than 3,500 pairs of polyurethane boots, with shipment planned for the following month. Italy represents a further European opportunity: negotiations on a cooperation agreement are continuing, initial orders have arrived, and the planned November shipment covers 1,200 pairs of polyurethane boots under the Made in Azerbaijan label. Interest from the United Arab Emirates and Jordan also creates prospects for additional market development.

The three quantified orders for Albania, Canada and Italy together account for more than 5,900 pairs. This figure provides a useful snapshot of the scale of the announced business pipeline, while Kazakhstan’s deliveries and potential new orders add another established export channel. Interest from the Gulf and the Middle East broadens the potential geography further.

For Azerbaijan, the significance of such projects extends beyond individual sales contracts. A manufacturer based in Aghdam contributes to the revival of economic activity across liberated territories and demonstrates how industrial infrastructure can support the next stage of regional development. Every operating facility creates demand for workers, transport, maintenance, packaging, utilities, suppliers and business services. As production expands, these connections can generate employment across a wider local economic network, supporting household incomes and strengthening the commercial life of surrounding communities.

The employment effect extends beyond the factory floor. Production requires operators, technicians, quality specialists, warehouse staff and managers, while shipments create work for drivers, freight forwarders and customs services. Training workers for these roles can build skills and support career paths. As suppliers and service providers respond to the factory’s needs, an industrial investment can stimulate economic activity across the region.

Industrial parks can bring together land, infrastructure, utilities and investor support in a planned environment, helping businesses establish operations and build supply relationships. In Aghdam, this model is particularly important because manufacturing can complement reconstruction in housing, roads, public services and agriculture. New jobs give residents opportunities to participate directly in the region’s economic recovery, while demand for local services can encourage further entrepreneurship.

Export growth also adds value to the national diversification agenda. International orders help manufacturers test their products against demanding customer requirements, improve production processes and build commercial credibility. The Made in Azerbaijan label gives overseas buyers a clear national identity for locally manufactured goods. Success in specialised footwear can also encourage the development of related activities, including materials processing, moulding, design, quality control, logistics and technical services.

The next stage of this progress will depend on production capacity, consistent quality, certification, competitive pricing and reliable delivery. The announced orders already provide a concrete indication of international demand and a foundation for future expansion.

Aghdam’s emerging manufacturing base shows how regional reconstruction and export-oriented industrialisation can reinforce one another. By turning investment into production, jobs and overseas sales, Azerbaijan can broaden the foundations of economic growth and strengthen the role of liberated territories in its national development. The journey from a 2.5-hectare industrial site to customers across several regions captures an important ambition: building a diversified economy whose products carry Azerbaijani value into global markets.

Global natural gas demand is expected to fall by approximately 1.5%, or 65 billion cubic meters, in 2026 compared with the previous year, according to the International Energy Agency (IEA). This would mark the third annual decline in global gas consumption since 2020.

The forecast was published in the IEA’s Global Gas Security Review 2026.

According to preliminary IEA data, global natural gas consumption fell by more than 1%, or over 35 billion cubic meters, in January-September 2026 compared with the same period last year. The agency said lower consumption in the Middle East, along with high prices in major LNG-importing markets in Asia and Europe, had contributed to the decline in gas demand.

In particular, rising gas prices prompted several Asian countries to switch from gas to coal for electricity generation. Higher prices also reduced gas consumption in energy-intensive industries, including fertilizer production.

In 2026, the decline in global gas demand is expected to be concentrated mainly in the power generation, energy and industrial sectors. Together, these three sectors are projected to account for 90% of the overall decrease.

The impact of the conflict in the Middle East on gas markets varies significantly across regions. In the countries most directly affected by the conflict, damage to domestic gas production and processing facilities has led to a sharp decline in output across energy-intensive industries.

The IEA also forecasts a 1.5% drop in natural gas demand in the Asia-Pacific region in 2026.

“Limited LNG availability and high prices will encourage a shift towards coal in power generation and reduce capacity utilization at energy-intensive industrial facilities,” the report said.

In Europe, natural gas consumption is expected to decline by 3% over the year. The agency attributes this to lower industrial gas use amid high prices, as well as reduced gas consumption in the power sector due to increased electricity generation from renewable energy sources.

The impact of the conflict has been limited in regions that are less dependent on LNG imports.

Azerbaijan is showcasing its tourism potential and business events capabilities at the China International MICE Exchange (CIMX 2026), which has opened in Beijing.

The Azerbaijan Tourism Board, three companies representing the country’s tourism sector, and national airline Azerbaijan Airlines (AZAL) are jointly participating in the international exhibition, presenting Azerbaijan’s tourism opportunities, its capacity to host international events, and prospects for cooperation with the Chinese market.

CIMX 2026 is an international platform specialising in the MICE industry, covering meetings, incentives, conferences, and exhibitions. The event brings together tourism authorities, professional buyers, event organisers, travel companies, and representatives of the aviation industry from around the world.

A key objective of Azerbaijan’s participation is to strengthen the country’s profile as an international MICE destination, establish new partnerships in the Chinese tourism market, and promote business ties between tourism industry representatives from the two countries.

During the exhibition, international participants are being introduced to Azerbaijan’s rich historical and cultural heritage, modern tourism infrastructure, high-end hotels, conference and event venues, as well as its extensive opportunities for corporate events and incentive travel programmes.

The Azerbaijan Tourism Board and its partner companies are also holding business-to-business (B2B) meetings with representatives of the Chinese market. Discussions focus on developing new tourism products, attracting corporate groups, hosting international events, and exploring opportunities for long-term cooperation.

An event dedicated to promoting Azerbaijan’s ancient national and cultural heritage has been held at the National NGO Forum, jointly organised by the Mirvarid Dilbazi Poetry Assembly Public Union and the Kelaghayi House-Museum.

The event opened with the national anthem, followed by a minute of silence in memory of Azerbaijani martyrs who sacrificed their lives for the homeland.

Speaking at the gathering, Gullu Eldar Tomarli, chairperson of the Public Union, director of the Kelaghayi House-Museum, and researcher and writer, highlighted the importance of preserving Azerbaijan’s national and spiritual values and passing them on to future generations.

The event also featured presentations of her books, Kelaghayi Holiday and Kelaghayi Is Our National Treasure.

In a significant step towards promoting Azerbaijani kelaghayi internationally, the book Kelaghayi Is Our National Treasure was presented in Georgian, translated by Imir Mammadli, and in Russian, translated by Ilahe Faziyeva.

Speakers emphasised that the kelaghayi, Azerbaijan’s traditional silk headscarf, is a symbol of national identity and feminine elegance. They noted that efforts to promote this cultural heritage had gained wider momentum following its inscription on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity in 2014.

As part of the event, visitors viewed an extensive exhibition featuring centuries-old kelaghayis from the Kelaghayi House-Museum collection alongside contemporary creations by skilled artisans. Guests also had the opportunity to explore publications dedicated to the traditional craft and watch a themed video presentation.

The event officially launched the 2026 programme of activities under the Kelaghayi Holiday initiative.

The US dollar has surpassed the psychologically significant 50-lira threshold in Turkiye’s free foreign exchange market, as the Turkish currency continues to weaken against the greenback.

The dollar’s selling rate climbed to 50.0021 lira in the morning hours of November 3, while its buying rate stood at 49.9892 lira.

The latest movement pushed the dollar’s selling price above the 50-lira mark. Meanwhile, the euro was trading at approximately 56 lira.

The Turkish lira has depreciated significantly against the US dollar over the past year. In November 2025, the dollar was trading at around 42 lira, compared with approximately 50 lira currently. This represents an increase of roughly 19% in the dollar’s exchange rate over the 12-month period.

The latest currency movement comes amid interest rate cuts by the Central Bank of the Republic of Turkiye.

On October 22, the Turkish central bank cut its benchmark interest rate by 100 basis points, from 37% to 36%.

Although the regulator reported signs of easing in underlying inflation trends, it warned that elevated energy prices and geopolitical tensions continued to pose risks to price stability.

US President Donald Trump described the $30 billion spent by Washington on its military operation against Iran as “mere pittance.”

He made the remarks in an interview with Fox News.

“I heard some stupid congressman on Fox, talking about the $30 billion spent on the war with Iran. It’s a mere pittance, because in Venezuela alone we’ve earned many times more,” Trump said.

Commenting on the military campaign in Iran, Trump described it as a “beautiful period” during which his administration had achieved what he called its “best numbers.”

He stressed that the operations in Iran and Venezuela had helped the White House attract hundreds of billions of dollars to the United States. Trump added that the country had also managed to accomplish “a lot of things.”

In late June, White House Office of Management and Budget Director Russell Vought told a congressional hearing that the US military operation against Iran had cost approximately $30 billion.

Five newly constructed bridges have been opened to traffic in Baku’s Garadagh district as part of ongoing efforts to modernise and upgrade the region’s road infrastructure.

The Azerbaijan State Agency of Azerbaijan Automobile Roads told AZERTAC that the bridges had been completed and commissioned over the past few months.

Three of the bridges are located in the Gobustan settlement, at the 55th kilometre of the Baku-Alat-Gazakh highway. The remaining two have been built on the Sangachal-Chayildag and Lokbatan-Guzdak roads.

The third bridge opened in Gobustan is 45.2 metres long, with a carriageway width of 10 metres.

Meanwhile, the existing fourth bridge in the same area is also scheduled for reconstruction. Its demolition and replacement with a new structure are expected to begin in the coming days.

The projects are part of broader efforts to improve road connectivity, enhance traffic safety and upgrade transport infrastructure across Garadagh district.

Trade turnover between Azerbaijan and Greece exceeded $715.7 million in January-September 2026, marking an 8.7% increase compared with the corresponding period of 2025, according to the State Customs Committee.

Greece accounted for 1.92% of Azerbaijan’s total foreign trade turnover during the reporting period.

The latest figures indicate continued growth in bilateral trade over the past three years.

In January-September 2025, trade turnover between Azerbaijan and Greece amounted to $658.6 million, representing an increase of 38.6% compared with the same period of 2024.

In the first nine months of 2024, bilateral trade stood at $475.27 million, according to figures published by Azerbaijan’s Embassy in Greece. Of this amount, Azerbaijani exports accounted for $429.57 million, while imports from Greece totalled $45.70 million.

Consequently, Azerbaijan’s trade turnover with Greece increased by approximately $240.4 million, or 50.6%, between the first nine months of 2024 and the corresponding period of 2026.

The three-year figures show a continued expansion in bilateral trade, although the annual growth rate moderated from 38.6% in 2025 to 8.7% in 2026.

Energy products remain an important component of trade relations between the two countries, with Azerbaijani natural gas and crude oil among the main commodities exported to Greece.

For the full year of 2025, Azerbaijan-Greece trade turnover exceeded $872.8 million, an increase of 27.6% compared with 2024, according to the State Customs Committee.

Ferrari NV shared on Tuesday that its net revenue for the third quarter of fiscal 2026 grew by 7%, compared to the same period last year, landing at pound 1.9 billion, in line with analysts’ expectations.

Net profit was up by 13% year-over-year, reaching pound 431 million, while diluted earnings per share (EPS) added 14% to pound 2.44 compared to the same quarter in 2025. Total shipments decreased to 3,368 units, marking a 1% decline annually. The carmaker also updated its 2026 guidance, projecting that net revenue will amount to approximately pound 7.65 billion, with EPS of at least pound 9.85.

“Deliveries of our F80 supercar and personalizations, led by the Ferrari 296 Speciale family, support our robust financial growth and reflect our clients’ ever-deepening desire to make each Ferrari uniquely their own,” CEO Benedetto Vigna stated.

Ferrari’s shares slipped by 3.46% in the premarket hours after the report was published.

The October issue of Ulduz magazine has been dedicated to the 900th anniversary of the birth of renowned Azerbaijani poet Khagani Shirvani.

The special edition, published as a joint project by the Institute of Literature named after Nizami Ganjavi of the Azerbaijan National Academy of Sciences (ANAS), T?hsil Publishing and Printing LLC, and Ulduz magazine, opens with the Azerbaijani President’s Order on commemorating the 900th anniversary of the great Azerbaijani poet.

The issue features articles about Khagani Shirvani written by scholars and literary researchers from different periods.

Among the contributions are ‘The Life of Khagani Shirvani’ by Doctor of Philological Sciences and Professor Gafar Kandli Herisçi; ‘The Great Azerbaijani Poet Khagani Shirvani’ by ANAS President, Academician Isa Habibbayli; ‘Khagani Shirvani and Middle Eastern Literature’ by literary scholar, translator and PhD in Philology Mammadaga Sulatnov; and ‘Khagani’s ‘Self’ in His Art’ by ANAS Corresponding Member Azada Rustam.

The edition also includes ‘In Prison’ by ANAS Corresponding Member Mahmud Ismayilov; ‘Khagani’s Influence on Nava’i’s Philosophical Odes’ by ANAS Corresponding Member Nushaba Arasli; and ‘A Comparative Study of the Arab Poet Buhturi’s ‘Shiniyya’ Ode and Khagani Shirvani’s ‘The Ruins of Madain” by Doctor of Philological Sciences and Professor Imamverdi Hamidov.

Other contributions include ‘The Artistic Depth of Khagani Shirvani’s Lyric Poetry’ by PhD in Philology and Associate Professor Lala Alizada; ‘On Distortions in the Translation of Khagani’s Odes’ by Doctor of Philological Sciences and Associate Professor Konul Hajiyeva; and ‘Aspects of Arab-Islamic Culture in the Works of Khagani Shirvani’ by PhD in Philology and Associate Professor Elnara Zeynalova.

The issue also features ‘Cry, So That You May Weep…’ by poet Farid Huseyn, chairman of the Youth Council of the Azerbaijan Writers’ Union, and ‘Khagani Shirvani’s Literary Legacy in the Context of Modernity’ by Dilara Adilgil.