Category: Azer News

The global economy of the mid-2020s has been marked by persistent volatility, geopolitical fragmentation, and shifting trade corridors. Yet, against this turbulent backdrop, Azerbaijan’s macroeconomic indicators for the first half of 2026 paint a picture of remarkable domestic stability. Recent official data released by the State Customs Committee reveals a striking development: Azerbaijan’s foreign trade surplus has surged nearly sixfold year-on-year, reaching $7.979 billion. Parallel to this commercial windfall, the Central Bank of Azerbaijan (CBA) has expanded its foreign exchange reserves from $11.1 billion to an impressive $13.1 billion. Together, these figures underscore a deliberate, highly calculated strategy of monetary insulation that virtually guarantees the absolute stability of the Azerbaijani manat (AZN) at its pegged rate of 1.70 to the US dollar for the foreseeable future.

To appreciate the scale of this economic windfall, one must look at the mechanics of the trade balance. During the first six months of 2026, Azerbaijan’s total trade turnover hovered around $24.661 million-a marginal 1.1% increase compared to the same period last year. However, the internal dynamics of this turnover shifted dramatically. Exports jumped by 26.7% to $16.320 billion, propelled heavily by a nearly threefold increase in revenues from refined petroleum products and steady natural gas deliveries to European markets. Concurrently, imports contracted sharply by 27.6%, dropping to $8.341 billion. This simultaneous expansion of outbound shipments and contraction of inbound purchases widened the trade gap in Azerbaijan’s favor, generating the historic $7.979 billion surplus.

In a standard floating exchange rate framework, such a massive trade surplus would trigger a rapid appreciation of the local currency. As foreign buyers purchase manats to settle energy contracts, the demand for AZN would skyrocket. However, Azerbaijan operates under a de facto fixed exchange rate regime, anchoring the manat firmly at 1.70 per dollar. To maintain this peg and prevent the domestic currency from becoming overvalued-which would hurt the competitiveness of the non-oil export sector-the Central Bank of Azerbaijan must step in as a market stabilizer.

The CBA does this through currency purchase interventions. By actively buying excess US dollars flooding the domestic market from energy exporters, the central bank injects manats into the system, neutralizing upward pressure on the currency. The direct byproduct of this mechanism is the rapid accumulation of national reserves. The expansion of the CBA’s foreign exchange reserves by $2 billion in a relatively short window to a historic peak of $13.1 billion is tangible proof of this sterilization policy.

For the average citizen and the foreign investor alike, this reserve accumulation is far more than a dry accounting milestone; it is an impenetrable monetary shield. International financial benchmarks dictate that a developing nation’s foreign reserves should ideally cover at least three months of imports. With Azerbaijan’s monthly import bill averaging roughly $1.4 billion, the CBA’s $13.1 billion vault holds enough liquidity to cover over nine months of imports. This represents a safety cushion three times larger than the recommended international baseline. Even in the highly improbable event of a sudden, catastrophic collapse in oil prices, the CBA possesses the unilateral firepower to defend the peg for a prolonged period without risking depletion.

Furthermore, this financial fortress dampens any speculative tendencies within the local banking sector. During previous periods of global uncertainty, dollarization-where citizens and corporations convert assets to USD out of fear of devaluation-posed a threat to liquidity. Today, because the CBA’s defensive capacity is highly visible and backed by hard cash, public confidence in the manat remains exceptionally high.

Ultimately, Azerbaijan’s current economic policy reflects a prioritized trade-off. By utilizing its surging trade surplus to build a massive sovereign reserve buffer, Baku has chosen total exchange rate predictability over exchange rate flexibility. In an era where sudden currency devaluations can instantly destabilize emerging markets, the $13.1 billion fortress at the Central Bank guarantees that the manat will remain an island of absolute calm. For the remainder of 2026, the 1.70 peg is not merely a policy target; it is an unassailable financial reality.

A presentation ceremony for the book “Collection of Articles Dedicated to the 100th Anniversary of the First Turkological Congress” has been held at the Nariman Narimanov Memorial Museum in Baku, AzerNEWS reports.

The event participants discussed the publication’s content, its academic significance, and the role of the First Turkology Congress in preserving national and cultural heritage while advancing Turkological studies.

Speakers highlighted the historic importance of the First Turkology Congress in the development of Azerbaijani and broader Turkic scholarly thought. They emphasized that the congress played a key role in strengthening scientific and cultural ties among Turkic peoples and made a lasting contribution to the advancement of Turkological research.

Note that the First Turkological Congress, held in Baku from February 26 to March 6, 1926.

The historic congress gathered 131 delegates, including linguists, historians, ethnographers, writers, scholars, and public figures from Turkic-speaking regions of the former Soviet Union, along with invited participants from abroad.

Among its landmark achievements was support for adopting a Latin-based alphabet for Turkic languages. Participants endorsed replacing the Arabic script with a common Latin alphabet to promote literacy, improve language standardisation, and advance modern education.

The congress also played a defining role in establishing Turkic linguistics as a modern academic field by encouraging research into grammar, dialectology, etymology, and comparative language studies.

In addition, it strengthened scholarly ties among researchers from across the Turkic world, fostering lasting academic cooperation and cultural exchange.

The discussions held during the congress also helped advance the study of Turkic history, culture, folklore, and ethnography, providing an important foundation for future research into the shared heritage of Turkic peoples.

Azerbaijan and Uzbekistan have signed a Terms of Reference agreement to establish a joint venture for geological exploration, marking another step forward in expanding economic cooperation between the two countries, AzerNEWS reports.

The announcement was made by Azerbaijan’s Minister of Economy, Mikayil Jabbarov, in a post on the social media platform X.

Jabbarov said the agreement was signed during his working visit to Uzbekistan, where he attended the 15th meeting of the Azerbaijan-Uzbekistan Joint Intergovernmental Commission on Cooperation alongside Uzbekistan’s Minister of Investments, Industry and Trade, Laziz Kudratov.

According to the minister, the two sides discussed deepening trade and investment partnerships in line with the strategic objectives set by the leaders of both countries. Their talks also focused on creating new production and value chains linking Central Asia and the South Caucasus, strengthening transport and logistics connectivity within the framework of the Middle Corridor, and expanding bilateral investment cooperation.

At the conclusion of the meeting, the parties signed a protocol aimed at enhancing cooperation across a wide range of priority sectors, including trade, energy, transport, agriculture, food security, healthcare, and environmental protection.

In addition, AzerGold CJSC, Uzbekistan’s Uzbekgeologorazvedka JSC, and the Azerbaijan-Uzbekistan Investment Company signed a Terms of Reference agreement to establish a trilateral joint venture that will carry out geological exploration projects.

Azerbaijani Foreign Minister Jeyhun Bayramov and Russian Foreign Minister Sergey Lavrov are holding talks at the Reception House of the Russian Foreign Ministry in Moscow, AzerNEWS reports.

The meeting is taking place as part of Foreign Minister Bayramov’s official visit to Russia.

The ministers are expected to discuss the current state and future prospects of Azerbaijan-Russia relations, as well as a broad range of bilateral cooperation issues. They will also exchange views on key regional and international developments that feature prominently on the current diplomatic agenda.

Following the talks, Bayramov and Lavrov are scheduled to hold a joint press conference to outline the outcomes of their discussions.

First Vice President of Azerbaijan Mehriban Aliyeva provided support to Honored Journalist of Azerbaijan Tofigakhanim Kasimova, who is suffering from cancer.

Tofigakhanum Kasimova, better known by her pseudonym Nurani, is currently in a coma.

Over the years, Nurani’s work has been published in dozens of Azerbaijani and international media outlets. Her main areas of focus are geopolitics, political processes, and issues related to the South Caucasus.

Participants of the “Azerbaijani Culture Summer School” project have completed their visit to the Karabakh region, where they explored key cultural, educational, and historical sites in Khankandi, AzerNEWS reports.

The initiative aims to introduce participants to Azerbaijan’s cultural heritage, post-war reconstruction efforts, and the region’s renewed role in education and development.

The project, organized on the initiative of the Azerbaijan Culture Ministry and the Azerbaijan Cultural Center named after Heydar Aliyev, operating under the Azerbaijani Embassy in Uzbekistan, included a visit to Karabakh University.

During the visit, participants learned about the university’s activities and modern educational infrastructure.

They were informed that, established by a decree of the President of Azerbaijan, Karabakh University is the first state higher education institution founded in the liberated territories.

Officials highlighted that the university’s mission is to train highly qualified specialists for the region, promote scientific research, and support Khankandi’s transformation into a major center of education and innovation.

The participants also visited Victory Park, a landmark reflecting Azerbaijan’s restoration of territorial integrity and the historic victory in the 44-day Patriotic War.

They received information about the course of the war, the liberation of Azerbaijani cities and settlements, and the restoration of national sovereignty.

The park was presented as not only a symbol of victory and remembrance but also as a representation of Khankandi’s revival, the return of peaceful life, and the extensive reconstruction projects underway across Karabakh.

The next stop of the “Azerbaijani Culture Summer School” participants will be Baku.

Azerbaijan is taking new steps to strengthen the professional capacity of its cultural institutions and expand its role in international cultural dialogue, AzerNEWS reports.

As part of the Concept, a professional training program titled “State Protocol and International Cultural Cooperation” has been conducted for employees of the Culture Ministry to support the development of human capital and strengthen institutional capacity.

The training program consisted of three modules and 12 sessions covering topics such as the fundamentals of state protocol, diplomatic etiquette, the organization of international events, cultural diplomacy, cooperation with UNESCO, and the practical application of international protocol.

The training was delivered by diplomat and expert Fikrat Pashayev.

Its purpose was to enhance the Ministry of Culture employees’ knowledge and skills in the fields of state protocol and international cooperation, as well as to strengthen their professional approach to organizing international events.

On January 14, 2026, Azerbaijani President Ilham Aliyev approved the “Azerbaijani Culture – 2040” Cultural Concept, a comprehensive long-term strategy designed to shape the country’s cultural development over the next 15 years

The initiative is aimed at harmonizing cultural traditions with modern approaches, safeguarding Azerbaijan’s national identity while supporting sustainable growth and strengthening the country’s cultural influence internationally.

The Concept outlines a vision for a modern cultural framework based on national and moral values, with a focus on ensuring systematic and sustainable progress across various cultural fields. Special attention is given to the Azerbaijani language, with measures planned to expand its role in cultural life, support its further development, and increase its recognition worldwide.

The strategy includes coordinated efforts to promote the Azerbaijani language as a dynamic means of communication and creative expression. Expected outcomes include the advancement of Azerbaijani literary language, the creation of new cultural and intellectual works, and wider use of Azerbaijani in digital spaces.

The Concept also emphasizes the importance of promoting the language internationally to strengthen its position in global communication. It aims to improve both the volume and quality of scientific, media, and literary content produced in Azerbaijani, ensuring its continued relevance as a cultural and intellectual resource.

Implemented under the coordination of the Ministry of Culture, the “Azerbaijani Culture – 2040” Concept will be carried out in three phases: 2026-2030, 2031-2035, and 2036-2040. Each stage includes specific goals and institutional measures designed to guide the country’s cultural development.

The Turkic World Week was held in Baku, Azerbaijan, from June 29 to July 3 to mark the commemorate the 100th anniversary of the historic First Turkological Congress.

The event was organized by the Azerbaijan Culture Ministry, Azerbaijan National Academy of Sciences (ANAS), and the Ministry of Science and Education, in cooperation with the Organisation of Turkic States (OTS), TURKSOY, Baku State University, the Turkic Academy, and the Turkic Culture and Heritage Foundation.

The week-long program gathered officials, representatives of international organizations, scholars, and cultural figures to commemorate the lasting significance of the First Turkological Congress, held in Baku in 1926.

The events highlighted the common cultural heritage of Turkic peoples, promoted humanitarian ties, and supported the development of new scholarly initiatives throughout the Turkic world.

A major achievement of the program was the adoption of the Khankandi Declaration, a document that sets out future directions for cooperation among Turkic states in areas such as science, education, language, culture, and the preservation of shared historical heritage.

The declaration also reaffirmed the commitment to the values and principles introduced at the First Turkological Congress.

Pakistan-based English-language news outlet Dispatch News Desk (DND) has published an analytical article examining the outcomes of the 4th Shusha Global Media Forum, describing the event as an important platform for addressing the evolving role of media in an increasingly complex information environment.

In the article, the author argues that the forum demonstrated how journalism is being reshaped by rapid technological advances, particularly the growing influence of artificial intelligence and the spread of disinformation. According to the publication, participants stressed that media organizations must adapt to these challenges while preserving professional ethics, credibility and public trust.

The analysis also highlights discussions on the responsibility of journalists in an era of digital transformation, noting that the widespread use of AI-powered tools has created new opportunities for content production but has also increased the risks associated with misinformation and manipulated content. The publication suggests that these developments require stronger international cooperation and more effective mechanisms for verifying information.

The article further points to President Ilham Aliyev’s participation in the forum, saying his remarks focused on regional developments, Azerbaijan’s foreign policy priorities, transport connectivity and the country’s post-conflict reconstruction efforts. According to DND, the President’s address provided participants with broader insights into the geopolitical dynamics of the South Caucasus and Azerbaijan’s vision for regional cooperation.

The publication concludes that the Shusha Global Media Forum has evolved beyond a traditional gathering of journalists into an international platform where media professionals, policymakers and experts exchange views on the future of journalism, technological innovation and the growing importance of reliable information in a rapidly changing global landscape.

Participants of the “Azerbaijani Culture Summer School” project have completed their visit to the Karabakh region, where they explored key cultural, educational, and historical sites in Khankandi, AzerNEWS reports.

The initiative aims to introduce participants to Azerbaijan’s cultural heritage, post-war reconstruction efforts, and the region’s renewed role in education and development.

The project, organized on the initiative of the Azerbaijan Culture Ministry and the Azerbaijan Cultural Center named after Heydar Aliyev, operating under the Azerbaijani Embassy in Uzbekistan, included a visit to Karabakh University.

During the visit, participants learned about the university’s activities and modern educational infrastructure.

They were informed that, established by a decree of the President of Azerbaijan, Karabakh University is the first state higher education institution founded in the liberated territories.

Officials highlighted that the university’s mission is to train highly qualified specialists for the region, promote scientific research, and support Khankandi’s transformation into a major center of education and innovation.

The participants also visited Victory Park, a landmark reflecting Azerbaijan’s restoration of territorial integrity and the historic victory in the 44-day Patriotic War.

They received information about the course of the war, the liberation of Azerbaijani cities and settlements, and the restoration of national sovereignty.

The park was presented as not only a symbol of victory and remembrance but also as a representation of Khankandi’s revival, the return of peaceful life, and the extensive reconstruction projects underway across Karabakh.

The next stop of the “Azerbaijani Culture Summer School” participants will be Baku.

The winners of the 2026 FIFA World Cup will become the first team in football history to receive a unique championship award, AzerNEWS reports.

For the first time ever, championship rings will be presented at a FIFA World Cup tournament. The tradition is well known in major American sports leagues, and its introduction at the 2026 World Cup is especially symbolic because the tournament will be hosted by the United States, Canada, and Mexico.

A limited edition of 2,026 championship rings will be produced, with each ring featuring an individual serial number as a tribute to the year of the tournament. Thirty rings will be presented to the players and coaching staff of the winning team, while the remaining 1,996 rings will be available for purchase worldwide as official FIFA-licensed memorabilia.

The design of the rings will include the image of the World Cup trophy on one side and the winning team’s emblem on the other. Each ring will be individually numbered, customized to size, and accompanied by a certificate of authenticity.

Immediately after the final whistle, the captain and head coach of the champions will receive temporary commemorative rings. The official championship rings for all 30 members of the winning team will then be specially produced, with the award ceremony taking place once they are completed.

The introduction of championship rings marks a new chapter in World Cup traditions and brings the tournament closer to the culture of American professional sports, where such awards have become symbols of legacy and victory.

In the 2026 World Cup final, Spain and Argentina will compete for the title. The decisive match will be held on July 19 at the stadium in New Jersey and will begin at 23:00 Baku time.