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AHK Azerbaijan Newsletter | 13.09.2024
Membership Events | Market information | Contact us
The major news highlights of the day                                              
➡️ Major Construction and Restoration Exhibitions to be Held in Baku! 
➡️ Save the Date: Next Financial Services Working Group on "EBRD's effect on green financing”
➡️ Save the Date: Joint meeting of the Financial Services and Agriculture and Food Working Groups on “Securities as Alternative Financing Instrument”

                             AHK Events
Save the Date: "EBRD's effect on green financing”                       

We are pleased to invite you to the upcoming meeting of the AHK Azerbaijan Financial Services Working Group, which will take place on Tuesday, September 17, 2024, from 11:00 AM to 12:30 PM. The meeting will be held at the AHK Azerbaijan office (Winter Park Plaza, 7th Floor, 75 Rasul Rza Street).

The meeting will focus on discussions regarding green financing and the transition to a green economy. Mr Elmin Ibrahimov, the Principal Banker at the European Bank for Reconstruction and Development (EBRD), will be joining us, giving a presentation on the topic of "EBRD's effect on green financing”.

The meeting is for AHK members only and is free of charge. The event will be held in Azerbaijani.

To participate, please, register for the meeting by completing the e-form until 16 September 2024.

Joint Meeting: “Securities as Alternative Financing Instrument” 

We are excited to invite you to the forthcoming joint meeting of the AHK Azerbaijan Financial Services and Agriculture and Food Working Groups, scheduled for Thursday, September 19, 2024, from 11:00 AM to 12:30 PM. The meeting will take place at the AHK Azerbaijan office (Winter Park Plaza, 7th Floor, 75 Rasul Rza Street).

The meeting will revolve around the ways to enhance access to financial resources through securities. Ms. Anjela Ramazanova, Head of the Listing Department at the Baku Stock Exchange, will be joining us, giving insights on the topic of “Raising Capital through Securities”.

The meeting is for AHK members only and is free of charge. The event will be held in Azerbaijani.

To participate, please, register for the meeting by completing the e-form until 18 September 2024.

Save the date for AHK Oktoberfest 2024!                                        

Dear AHK members and partners,

Get ready for a dynamic evening with AHK members and friends! Enjoy traditional German beer, Bavarian music, and delicious festive food. 🎶 🍻 🥨

📅 Date: October 19, 2024
🕖 Time: 19:00
📍 Location: Paulaner Brewery Restaurant, 25B November 8 Avenue

🎸 We are thrilled to present an unforgettable performance by Munich's "Enzianpower" band, creating a fantastic atmosphere you won't want to miss!

📢 Ticket prices: Members 130 AZN / Non-Members 150 AZN

📈 The Oktoberfest is a perfect occasion to showcase your company. Explore our diverse sponsorship packages and leverage the marketing opportunities provided by AHK Azerbaijan.

For any questions, please contact us at:
📧 ravana.guliyeva@ahk-baku.de
📞 +994 497 63 06/07

Let's enjoy the German beer and festive music with the "Enzianpower" band together! 🍺🎶

                      AHK Azerbaijan informs
ℹ️ Dear members and partners, feel free to provide updates and news about your company that may benefit our members.  
Construction and Restoration Exhibitions to be Held in Baku!     
Get Ready for a Major Event in the Construction and Restoration Industry

We're excited to announce two leading exhibitions happening 15-17 October 2024 at the Baku Expo Center:

🔹 4th Azerbaijan International Restoration, Reconstruction, and Development of Karabakh Exhibition (Rebuild Karabakh) - The premier specialised event focused on the restoration of the Karabakh region. This unique exhibition is a vital platform for strengthening public-private partnerships, with strong support from various government agencies and ministries.

🔹 29th Azerbaijan International Construction Exhibition (Baku Build) - The largest and most influential construction and interior trade show in Azerbaijan and the Caucasus region. BakuBuild is your go-to destination for the building sector's latest trends, technologies, and networking opportunities.

Be sure to visit the German Pavilion, which will feature a wide array of leading companies showcasing innovative solutions and technologies.

See you there! 
AHK Azerbaijan offers representation at COP29 Green Zone        

Dear AHK members and partners,

As you know, #COP29, the pivotal climate conference, will take place in Baku from November 11 to 22, 2024. This event is instrumental in shaping international climate policies and fostering global cooperation towards sustainability.

Managed by the COP29 Presidency, the Green Zone of COP29 offers a unique opportunity for dialogue and collaboration on climate action. It serves as a platform for organisations and companies, including state and non-state actors, NGOs, and academic circles, to exchange ideas and solutions with global stakeholders. We are excited to see the innovative solutions and fruitful discussions that will emerge from this platform.

The German-Azerbaijani Chamber of Commerce, a trusted partner, invites you to join us in the Green Zone. We are here to represent your interests and engage in critical discussions on climate issues. AHK Azerbaijan has exclusive offers available for its members and partners concerning representation in the Green Zone. Secure your company space within our joint German stand by contacting us for your company interest via email at ravana.guliyeva@ahk-baku.de for more details on participation

Members for Members: Exciting News for COP29 Participants!   

We’re thrilled to announce that our esteemed member, Sustainera Solutions, is offering comprehensive programming support for companies with pavilions at COP29’s Green Zone. 🌍

Here’s how Sustainera Solutions can make a difference for your pavilion:

  • Designing participation concepts and strategies.
  • Organizing events at the Blue Zone, Green Zone, and individual pavilions.
  • Drafting agendas and selecting topics for presentations.
  • Recommending sessions to attend within the COP29 zones.
  • Providing support during meetings and negotiations, among other services.

If you require assistance in these areas, please reach out to Mrs. Narmina Aliyeva at Sustainera Solutions via email: narmina@sustainerasolutions.com, +99451 5760366

Don’t miss out on this opportunity to maximise your impact at COP29! 🚀

                                  NEWS 
12.09.24 | COP29

UN Climate Change High-Level Champion launches ‘Impact Makers’ – a new campaign to amplify climate solutions

The COP29 Champion’s campaign, Impact Makers, will spotlight and scale innovative climate action from diverse leaders and innovators from across the world.  

The UN Climate Change High-Level Champion for COP29, Nigar Arpadarai, today announces the launch of Impact Makers, a global campaign dedicated to shining a light on effective climate action, highlighting diverse innovators and their tangible solutions across regions, industries, and communities.

From social entrepreneurs, to community leaders, to startups, Impact Makers will showcase a range of impactful projects that prove that reducing greenhouse gas emissions and helping people adapt to the realities of climate change is possible and change is already underway at speed and scale.

Up to 50 Impact Makers will be selected on a rolling basis and profiled at Climate Week New York City and COP29 in Azerbaijan, as well as online across a dedicated webpage and exhibition. The campaign will also continue to grow through to COP30, taking place in Brazil in 2025.

Impact Makers aims to foster solidarity and inspire others to innovate and advance solutions across key areas such as energy, transport, industry, land use, ocean and coastal zones, water and human settlements – all focus areas of the Marrakech Partnership, a global network of organisations mobilizing stronger and more ambitious climate action.

Impact Maker nominations will be put forward by a diverse Steering Committee composed of expert international research institutes, climate resilience networks, social impact organizations and communications platforms. Impact Makers will be recommended for their innovation, resourcefulness and communications skills, as well as the impact and scalability of their initiative.

12.09.24 | GREEN ECONOMY

European commissioner pushes EU nations to submit climate policies shortly

European Union (EU) Energy Commissioner Kadri Simson at a press conference on 11 September on the state of the Energy Union for 2024 urged EU countries to submit their missing national climate plans (NDCs), the transcript of the press conference on the EU's official website said, Trend reports.  

“I urge EU member states to submit their missing national energy and climate plans. To date, we have received only ten final plans (there are 27 countries in the EU). Indeed, we are well beyond the deadline. These plans are needed to translate commitments into action and give confidence to investors,” Simson emphasized.

According to her, the European Union's fossil fuel imports remain excessive.

“Europe needs to rely more on domestically produced clean energy and import less fossil fuels to ensure competitiveness, security of supply, EU energy sovereignty, and economic sustainability,” the Commissioner noted.

Simson believes that the EU is ready to hit the ground running in its quest for climate neutrality, all while keeping its industrial edge sharp as a tack.

“Over the last five years, we have agreed on new and higher targets for renewable energy sources (RES) and energy efficiency. We have reformed energy markets and developed the world's most advanced concepts for a hydrogen economy and methane emission reductions. Following two record years of renewable energy deployment, wind and solar power reached new highs in the first half of 2024, overtaking fossil fuels in our electricity mix for the first time,” Simson stated.

She recalled that during COP28 in Dubai in December, the EU joined the Global Commitment to triple renewable energy capacity and double the rate of energy efficiency improvements by 2030.

“Green investment has reached record levels due to national recovery and resilience plans. By mid-June 2024, 184 billion euros of the 240 billion euros allocated under national recovery and sustainability plans had gone to energy-related reforms and investments,” Simson pointed out.

She added that the EU has done a lot within the mandate to bring down electricity prices from the 2022 peak, but now we need to address the structural issues.

“I believe the main way forward is to increase the rate of renewables deployment further. We are seeing in 2024 that the rate of renewable energy commissioning is not growing as fast as it should. We need another strong push to meet the 2030 targets we have agreed,” Simson continued.

To note, countries have until February 2025 to submit climate action NDCs..

11.09.24 | ECONOMY

Azerbaijan seeks to amend legislation on venture capital funds (Exclusive)

Work is underway to amend the legislation of Azerbaijan on venture capital funds, the chairperson of the Board of the Innovation and Digital Development Agency under the Ministry of Digital Development and Transportation of Azerbaijan Inara Valiyeva told Trend.  

"We, together with several state bodies, are actively working on changes in legislation that will make the process of creating and functioning of venture capital funds more convenient, accessible, and free. Nowadays, even though we call the created structures venture funds, from the point of view of the current legislation, they are not such. We have found a legal way for their work, but it is associated with several complexities that require changes to simplify the further development of the industry,” she said.

The Agency for Innovation and Digital Development under the Ministry of Transport and Digital Development of Azerbaijan is currently negotiating with funds to create a second venture fund in the country.

11.09.24 | ICT

Azerbaijan set to launch its first innovation center

Azerbaijan is set to launch its first innovation center, the Azerbaijan Innovation Center (AIM), marking a significant milestone in the country's drive towards technological advancement, Chairwoman of the Innovation and Digital Development Agency under the Ministry of Transport and Digital Development of Azerbaijan, Inara Valiyeva, said at a panel discussion on "Innovation as a Culture" at the Chain Reaction 2024 forum, Trend reports.  

"We are proud to establish Azerbaijan's first innovation center, AIM. We plan to open the center in Baku and Sumgayit this October, with another center anticipated in the regions by the end of the year. Several new centers are also slated for launch in Baku next year," Valiyeva stated.

Valiyeva emphasized that public-private partnerships will be crucial for ensuring the sustainability of these initiatives, with the business sector expected to play a pivotal role in their long-term success.

11.09.24 | ECONOMY

Economic growth in Azerbaijan exceeds 4%

In January-August 2024, the gross domestic product (GDP) produced in Azerbaijan amounted to AZN 80 billion 960,3 million, which is 4.3% more compared to the same period of the previous year, APA-Economics reports citing State Statistical Committee.  

According to the Committee, the added value in the oil-gas sector of the economy increased by 0.2%, while in the non-oil-gas sector it increased by 7.0 %.

The GDP production was distributed as follows: 37,9 % in industry, 9,7 % in trade and repair of transport vehicles, 7,0% in transport and warehousing, 6,1% in construction, 6,0% in agriculture, forestry, and fishing, 2,5% in accommodation of tourists and public catering, 1.8% in information and communication fields, and 18,9 % in other sectors, net taxes on products and imports accounted for 10,1% of the GDP.

The GDP per capita was AZN 7941,3.

11.09.24 | FINANCE

Azerbaijan's central bank, EBRD discuss initiatives related to green transition

The Central Bank of Azerbaijan (CBA) and the European Bank for Reconstruction and Development (EBRD) have discussed initiatives related to the green transition, the chairperson of the Central Bank of Azerbaijan (CBA) Taleh Kazimov wrote on X, Trend reports.  

The publication notes that a meeting was held with the EBRD's new Executive Director for Türkiye and South Caucasus, Elisabetta Falcetti.

''During the meeting, we discussed the sustainable development of the financial sector, the Central Bank's strategic plans for sectoral growth, the expansion of the real sector's access to finance, green transition-related initiatives, and the possibilities for EBRD's support in this regard.

Additionally, we exchanged views on the current state and prospects of cooperation between the Central Bank and the EBRD, '' the publication reads.

12.09.24 | TRANSPORT

UN Resident Coordinator in Azerbaijan weighs transport sector strife to cut environmental impact

More than a quarter of the world's global fuel-related greenhouse gas emissions come from the transport sector, and transformation in this sector must play a central role in implementing the Paris Agreement on climate change, UN Resident Coordinator in Azerbaijan Vladanka Andreeva said, Trend reports.  

She made the remark at the International Forum on Sustainable Development and Climate Innovation in Baku.

According to her, emissions from the transport sector could double if the world continues following the current tendency, but this trend must be reversed.

“To promote sustainable mobility, the UN has launched various coalition initiatives with the transport sector, including the largest global coalition such as the 'Action towards Climate-Friendly Transport' (ACT), which focuses on decarbonizing and transitioning all forms of transport to zero emissions," Andreeva explained.

She reminded that in 2023, a UN General Assembly resolution declared the UN Decade of Sustainable Transport (2026-2035), and November 26 was proclaimed as World Sustainable Transport Day.

However, she emphasized that to drastically reduce emissions in the transport sector and shift to a low-carbon scenario, innovative automotive technologies, sustainable biofuels, improved infrastructure, climate-optimized urban planning, financing, and public awareness campaigns are also needed.

Andreeva mentioned that many companies in the transport sector belong to the private sector, which plays a key role in driving climate action.

"Non-state actors, including the private sector, are key partners in the fight against climate change. An increasing number of countries have already committed to reducing their emissions to net zero, and others are joining the race. This is crucial, as widespread and meaningful participation in climate action broadens support for the transformations we desperately need," the official stressed.

She noted that it's critical to prevent the worst effects of climate change and preserve a livable planet by limiting global warming to 1.5 degrees or below.

“A comprehensive approach and collaboration across all sectors and levels of society are needed. We must encourage cross-sector cooperation in combating the climate crisis," the UN Resident Coordinator in Azerbaijan pointed out.

                               TENDERS
09.09.24 | TENDER

Azerbaijani Central Bank announces tender for insurance services attraction

The Central Bank of Azerbaijan has announced a tender to attract services on medical insurance of employees.

The cost of participation in the procedure is 450 ($264.7).

Those wishing to participate in the tender should send their offers until 17:00 (GMT+4) on September 18, 2024. Opening of tender packages will take place at 17:00 (GMT+4) on September 18, 2024.

Additional Information:

Phone number: (+99412) 493-11-22.

Contact Person: Shahriyar Imanov.

Address: 90 Rashid Beybutov Street, Baku.

09.09.24 | TENDER

Azerpost announces bid for procurement of auto parts

Azerbaijan's state postal operator, Azerpost LLC, announces a tender for the purchase of auto parts (tires for Ford Tranzit, Qazel Next A31R32-80, NIVA).

The cost of participation in the procedure is 250 manat ($147).

Those wishing to participate in the tender should send their offers until 11:00 (GMT+4) on September 18, 2024. Opening of tender packages will take place at 11:00 (GMT+4) on September 18, 2024.

Additional Information:

Phone number: (+994 12) 4935600.

Contact person: Emin Alakbarov (e.alakbarov@azerpost.az)

Address: 72, Uzeyir Hajibeyli str.

09.09.24 | TENDER

Azerbaijan's Social Services Agency announces IT equipment tender

The Social Services Agency under the Ministry of Labour and Social Protection of Population of Azerbaijan has announced an IT equipment tender.

The participation fee is 350 manat, or $205.88.

The deadline for bid submissions is no later than 17:00 (GMT+4) on September 23, 2024.

The opening of tender packages will take place at 17:00 (GMT+4) on September 23, 2024.

Additional information:

Phone: (+994 12) 525-41-30 (internal 5149);

Contact: Murad Rashidov (murad.m.y.rashidov@sosial.gov.az);

Address: Cinar Park Business Center, 2nd floor, Ziya Bunyadov Avenue, Baku.

09.09.24 | TENDER

Azerbaijani Ministry of Agriculture announces software license, tech support tender

The Ministry of Agriculture of Azerbaijan has announced software licenses and technical support (DS 330 3-Phase UPS+60 Battery pack (extended support, spares included), HPE 3PAR controller-MHPESTRG01, HPE 3PAR expansion cage0/cage1, PaloAlto PA-5220, DELL MD3820F, DELL MD1200) tender.

The participation fee is 350 manat, or $205.88.

The deadline for bid submissions is no later than 12:00 (GMT+4) on September 23, 2024.

The opening of tender packages will take place at 112:00 (GMT+4) on September 23, 2024.

Additional information:

Phone: (+99412) 498-89-14;

Contact person: Turan Gumbatli;

E-mail: ali.aslanlı@agro.gov.az;

Address: 80 Uzeyir Hajibeyli Street, Sabail district, Baku city.

09.09.24 | TENDER

Azerbaijan’s State Treasury Agency to purchase IT equipment via tender

Azerbaijan's State Treasury Agency under the Ministry of Finance has announced a tender for the purchase of IT equipment.

The participation fee for this tender is set at 1,000 manat ($588.2).

Those wishing to participate in the tender must submit the required documents until 11:00 (GMT+4) on October 4, 2024.

The opening of tender packages will take place on October 4, 2024, at 11:00 (GMT+4).

Additional Information:

Phone: (+99412) 404-46-99

Contact: Dayanat Farajov (d.farajov@dxa.gov.az)

Address: 135 Samad Vurghun street, Baku

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Sources:
1. AHK Azerbaijan
2. Trend News Agency
3. APA News Agency
4. Report News Agency
5. President.az
6. Central Bank of the Republic of Azerbaijan
7. The Milli Majlis of the Republic of Azerbaijan
8. Banker.az

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Winter Park Plaza, 7th floor 75 Rasul Rza Str.; 1014 Baku, Azerbaijan; +994 12 497 63 06/07