▶️ The importance of combining Azerbaijan's resource potential with Italy's technological capabilities in the fields of critical minerals, mining, and metallurgy was emphasized. Opportunities for cooperation with AzerGold and companies operating in the aluminum and steel industries were discussed, particularly in equipment supply, processing, recycling, and modernization of production facilities.
Opportunities for financing projects involving Italian equipment and technologies through cooperation between the Azerbaijan Business Development Fund under the Ministry of Economy and the Italian Export Credit Agency (SACE) were also highlighted. The potential for investment partnerships in industry and infrastructure between Azerbaijan Investment Holding and Cassa Depositi e Prestiti (CDP), Italy's national development and investment financing institution, was emphasized.
Adolfo Urso, Minister of Enterprises and Made in Italy, highlighted the development of business partnerships between Azerbaijan and Italy and the prospects for expanding cooperation between companies from both countries. He stressed the importance of strengthening direct business ties and promoting joint initiatives in the industrial and investment sectors, noting that assessing the existing potential in new areas of cooperation would contribute to mutually beneficial partnerships.
As part of the event, Azerbaijani companies presented potential joint projects and areas of cooperation to their Italian partners. B2B meetings were also organized between business representatives.
At the conclusion of the event, a Joint Statement on Strategic Partnership in the Field of Critical Minerals was signed between the Ministry of Economy of the Republic of Azerbaijan, the Ministry of Foreign Affairs and International Cooperation of the Italian Republic, and the Ministry of Enterprises and Made in Italy.
The document aims to expand and diversify industrial cooperation between the two countries by combining Azerbaijan's resource potential with Italy's technological expertise.
The Joint Statement covers industrial and technological development, investment and business partnerships, regional supply chains and logistics, as well as dialogue and institutional cooperation on relevant policy matters.
This cooperation is intended to facilitate the expansion of processing capacities, efficient utilization of resources, development of resilient supply chains, and production of high-value-added products.

🔤🔤🔤🔤🔤🔤 In accordance with the Memorandum of Cooperation between the State Tax Service under the Ministry of Economy and Garabagh University, students of the university are continuing their volunteer activities at the Garabagh Territorial Main Tax Department.
Since the beginning of October, students have been receiving detailed information on tax legislation and tax administration as part of a two-month program. In addition, they participate in meetings with taxpayers organized by the Garabagh Territorial Main Tax Department.
Students involved in the volunteer program also undergo practical training in the relevant departments according to an established rotation schedule.

💰 The Azerbaijan Business Development Fund (ABDF) under the Ministry of Economy has introduced a new microcredit mechanism for entrepreneurs aimed at expanding access to financial resources for businesses.
Microloans are available in amounts ranging from ₼15,000 to ₼50,000, with repayment terms of up to 60 months and annual interest rates of 7–8%, depending on the project's area of activity. The grace period is set at half the loan term, while up to 50% of the funds may be allocated to construction and renovation works. For entrepreneurs operating in the liberated territories, the minimum loan amount is ₼10,000, with an annual interest rate of 5%.
The main advantage of the new financial product is that it allows investment and operating expenses to be financed through a single loan, providing entrepreneurs with opportunities to implement their projects and finance ongoing business activities.
Priority areas under the concessional lending, state guarantee, and interest subsidy mechanisms include the non-oil industry, green taxonomy, strategic agriculture, strategic logistics, and supply chain infrastructure.
Other important areas include non-oil industrial projects not covered by the main priority list, agriculture, fisheries and aquaculture, digital development and ICT projects, freight transportation, warehousing and public passenger transport, tourism and hospitality infrastructure, healthcare, education and social services infrastructure, production and agricultural support services, as well as other service and commercial infrastructure.

ℹ️ ABDF is one of the country's key state institutions providing financial support to businesses through concessional loans, state guarantees, interest rate subsidies, and investment financing. The Fund's activities are aimed at stimulating the development of Azerbaijan's non-oil sector, supporting import-substituting and export-oriented projects, and enhancing the competitiveness of local businesses. It also plays an important role in expanding access to finance, promoting private sector investment, and attracting foreign direct investment to the country.

🇦🇿🇷🇺 Ambassador of Azerbaijan to the Russian Federation, Rahman Mustafayev, stated at the Nizhny Novgorod Economic Forum that Azerbaijan expects its trade turnover with Russia to reach $3.5–4 billion by the end of 2026, TASS reports.
According to him, the slight decline in the indicator compared with 2025 is primarily due to a decrease in certain export items, particularly gold bars and petroleum products, which may be seasonal in nature. The ambassador emphasised that “normal, healthy dynamics” are being maintained across the main commodity categories and that Baku expects to compensate for the reduced volumes in the coming years.
Mustafayev noted that Russia is among Azerbaijan’s top five priority trading partners, ranking second in terms of imports into Azerbaijan and fourth in terms of exports of Azerbaijani products. More than 30% of Azerbaijan’s non-oil-and-gas exports go to the Russian market.
The ambassador also stated that Azerbaijan maintains trade and economic ties with 75 constituent entities of the Russian Federation. Intergovernmental agreements on trade and economic, scientific and technical, and cultural cooperation have been concluded with more than 20 of them. The main partners are Moscow and the Moscow Region, which account for more than half of bilateral trade turnover, as well as Krasnodar Krai, Stavropol Krai, Tatarstan and St. Petersburg.
Around 1,500 companies with Russian capital operate in Azerbaijan, including 300 enterprises wholly owned by Russian investors. The total volume of Russian investment in Azerbaijan’s economy over the past five to eight years has exceeded $10 billion. In turn, Azerbaijan’s investment in the Russian economy over the past five years amounted to $1.2 billion.
According to the ambassador, investments are primarily directed towards the manufacturing industry, the production of finished goods and infrastructure facilities.

🏢 Kazim Huseynaliyev, Minister of Economy of the Nakhchivan Autonomous Republic, has held a meeting with representatives of the textile sector and investors.
During the meeting with Farida Akhundova, Executive Director of the Azerbaijan Textile Association; Mustafa Denizer, Vice-President of the International Textile Manufacturers Federation and Head of DIKTAS; Anar Dadashov, Chairman of the Management Board of Azeripek OJSC; Hashim Aliyev, Deputy Chief Executive Officer of Prime Cotton LLC; and Ali Hikmet Karaoglu, Chief Operating Officer of GILTEX LLC, information was provided on the economic development prospects of the Nakhchivan Autonomous Republic. It was noted that the region’s favourable geographical location, production capacity, and government incentives and support mechanisms for business development create favourable opportunities for expanding the textile industry. Minister Kazim Huseynaliyev invited investors to make effective use of these opportunities and invest in the Autonomous Republic.
The guests stated that they intended to contribute to the development of the textile industry in the Autonomous Republic and were considering investment opportunities for this purpose. It was noted that products manufactured in the Nakhchivan Autonomous Republic have the potential to be supplied to the domestic market and exported to foreign countries.
During the meeting, the participants exchanged views on possible steps to advance potential cooperation in the textile sector and agreed to continue their contacts in the future.

🏭 As part of the “Strategy for the Development of the Digital Economy in the Republic of Azerbaijan for 2026–2029”, an experience-sharing visit to the SOCAR Carbamide Plant was organised for participants in the Digital Economy Development Support Programme.
The visit was held in cooperation with the Centre for Analysis and Coordination of the Fourth Industrial Revolution (4SIM) under the Ministry of Economy, the Economic Zones Development Agency (IZIA) and SOCAR. Its aim was to familiarise local enterprises with best practices in automation digital transformation, and green transformation.
Soltan Bayramov, Deputy Executive Director of 4SIM, and Amir Mammadov, Head of the Resident Relations Department at IZIA, emphasised the importance of such visits for the technological transformation of industry. It was noted that individual roadmaps had been prepared for the 18 enterprises that have joined the programme and that, out of more than 300 assessed use cases, 104 had been prioritised and put forward for implementation.
Kutay Durna, Director of SOCAR Carbamide, noted that the implementation of 42 digital solutions at the plant had increased production volume by 21% and improved gas-use efficiency by 24%. In recognition of these achievements, the plant was admitted to the World Economic Forum’s Global Lighthouse Network. Information was also provided on the objectives of the NextGen industrial cluster being established in the Sumgayit Industrial Park.
Following a tour of the plant’s production facilities to learn about its control and automation systems, the participants discussed the practical application of digital transformation and the challenges involved.
Those interested in joining the programme can find detailed information at https://industry4.az.

📤 According to statistics on exports of non-oil products of Azerbaijani origin, the country exported more than 123.8 thousand tonnes of cotton worth $193.8 million during January-September 2026.
Based on the State Customs Committee's report, compared to the corresponding period of 2025, cotton exports increased by 16.6% in value and 15.5% in volume.
Overall, in the first nine months of the year, Azerbaijan exported non-oil products of domestic origin worth more than $2.88 billion, exceeding the corresponding figure for 2025 by 21.66%. During the reporting period, cotton accounted for 6.73% of the country's total non-oil exports.

🇦🇿🇹🇷 In January–August 2026, more than 308,400 Türkiye citizens visited Azerbaijan, an increase of 6.4% compared to the same period in 2025, according to the State Tourism Agency. In August alone, more than 39,500 visitors arrived from Türkiye, an increase of 4.7% compared to August 2025 and 1% compared to July 2026.

🌐 A delegation from the Azerbaijan Investment Holding (AIH) participated in the 47th meeting of the OECD Working Party on State Ownership and Privatisation Practices, held in Paris.
During the meeting, the delegation exchanged experience with participants on state asset management, particularly centralised ownership models. The delegation also met with senior representatives of the Working Party to discuss the implementation of follow-up cooperation projects.

🇦🇿🇬🇧 In January–September 2026, trade turnover between Azerbaijan and United Kingdom exceeded $3.72 billion, an increase of 3.9-fold compared to the same period in 2025, according to the State Customs Committee. During the first nine months of 2026, trade with United Kingdom accounted for 10% of Azerbaijan’s total foreign trade turnover.