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Azerbaijan destroys smuggled goods of Armenian production – Customs Committee

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Goods of unknown origin, which are unsuitable for use and the circulation of which is limited or prohibited by the State Customs Committee, have been destroyed in Azerbaijan, head of the department at the Committee’s Main Operational – Investigation Office Elnur Gurbanov told journalists, Trend reports on Dec. 25.

According to Gurbanov, the destroyed goods include 4,600 boxes with fireworks, 119,385 pyrotechnics, various expired drugs, more than 3,000 liters of alcoholic beverages, 162 liters of soft drinks, 361.14 kilograms of food and non-food items.

He noted that 37 souvenirs, 32 boxes of cigarettes and 51.7 liters of various alcoholic beverages of Armenian production were also among the destroyed goods.

The goods were destroyed on the basis of an expert opinion, added the committee's representative.

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Azerbaijan to simplify civil UAV registration procedures

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The Ministry of Digital Development and Transport of Azerbaijan will simplify the procedures for registration of civil unmanned aerial vehicles (UAVs) this year, Deputy Minister Rovshan Rustamov said, Trend reports.

Rustamov made the remark at an event entitled "Priorities in the field of digital development and transport in Azerbaijan".

According to him, to simplify these procedures, it’s necessary to create an appropriate infrastructure to digitalize all processes.

"We want to make the process of registering UAVs as simple as possible. First of all, it’s necessary to take a step towards digital transformation," he noted. "Besides, in order to import these devices to Azerbaijan and register them, it’s needed to apply to nearly seven government agencies, three of which are subordinate to our ministry."

"The consent of third-party institutions is also required, and this takes about two-three months. Thus, we have already identified specific areas and steps that can contribute to the simplification of these procedures," the deputy minister further said.

"In this regard, we can talk about a project which will be created based on a single portal accepting online applications. This year, we plan to fully implement this process," added Rustamov.

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CBA hold regular foreign currency auction

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The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) on Jan. 27, Trend reports referring to the CBA.

According to the CBA, the demand of local banks for foreign currency amounted to $84.2 million and was fully met.

The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.

The CBA has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.

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Finance Ministry to put up gov’t bonds for new auction

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The Baku Stock Exchange (BSE) will hold an auction on the placement of Azerbaijani Finance Ministry’s medium-term government bonds worth 35 million manat ($2.9 million) on February 1, 2022, Trend reports via the BSE.

According to the exchange, bonds with a face value of 100 manat ($58.8) each with a maturity of 1,092 days and a yield of four percent will be put up for the auction.

Interest payment dates are set for August 2, 2022, January 31, 2023, August 1, 2023, January 30, 2024, July 30, 2024, and January 28, 2025 (the principal payment deadline).

Pasha Capital CJSC will be the underwriter of the placement.

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