Azerbaijani governmental agency
Ministry of Economy of Azerbaijan Republic|
 Coat of arms of Azerbaijan |
 The logo of the Ministry of Economy of Azerbaijan |
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| Formed | April 30, 2001 |
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| Jurisdiction | Government of Azerbaijan |
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| Headquarters | 23 Niyazi Street, Baku, Azerbaijan Republic AZ1066 |
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| Agency executives | - Mikayil Jabbarov [1], Minister of Economy
- Elnur Aliyev, First Deputy Minister
- Samad Bashirli, Deputy Minister
- Sahib Alakbarov, Deputy Minister
- Sahib Mammadov, Deputy Minister
- Rovnag Abdullayev, Deputy Minister
- Ayaz Aliyev, Head of Administration
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| Website | www.economy.gov.az |
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The Ministry of Economy of Azerbaijan Republic (Azerbaijani: Azərbaycan Respublikası İqtisadiyyat Nazirliyi) is the central executive body responsible for implementing state policy and regulation of the economy in Azerbaijan.
History
In 1918–1920, the first Ministry of Commerce and Industry of independent Azerbaijan carried out its functions within the government of Azerbaijan Democratic Republic.
In the Soviet Socialist Republic of Azerbaijan, which was a part of the USSR in 1920–1991, economic issues were regulated by such committees as the Ministry of Commerce, Industry and Food, the Ministry of Trade and Industry, and the State Planning Committee of the USSR.
April 30, 2001 - State Property Ministry, Ministry of Economy, Ministry of Trade, State Committee for Antimonopoly Policy and Support of Entrepreneurship and Foreign Investments Agency were abolished and the Ministry of Economic Development was established on the basis of these bodies according to the Decree of the President of Azerbaijan Republic.[1]
October 22, 2013 - The Ministry of Economy and Industry was established on the basis of the Ministry of Economic Development in accordance with the Order of the President of Azerbaijan Republic.[2]
January 15, 2016 - The Ministry of Economy of Azerbaijan was established on the basis of the Ministry of Economy and Industry in accordance with the Order of the President of Republic.[3]
October 23, 2019 – New structure of the Ministry was approved by Decree of the President of Azerbaijan.[4][5]
Recent activities
November 20, 2019 – Azerbaijan's Minister of Economy Mikayil Jabbarov was elected as Chairman of the Coordination Council of Heads of Tax Services of the CIS Member States.
December 6, 2019 – the International Conference dedicated to the 20th Anniversary of signing the Basic Multilateral Agreement on International Transport for Development of the Europe-the Caucasus-Asia Corridor and the Fourteenth Annual Meeting of the Intergovernmental Commission (IGC) TRACECA was held in Baku.[6]
December 6, 2019 – The Republic of Azerbaijan officially assumed the chairmanship in the Intergovernmental Commission TRACECA.
December 9, 2019 – The Republic of Azerbaijan and the Russian Federation signed a Protocol of Intent on Economic Cooperation.[7]
April 8, 2020 – The program to compensate entrepreneurs and their employees for the damage caused by the coronavirus (COVID-19) pandemic was launched in accordance with the Action Plan adopted by the Cabinet of Ministers in order to reduce the negative impact on business entities due to the coronavirus pandemic [8]
May 4, 2020 – The Ministry of Economy launched a new mechanism on partial refund of VAT paid for goods by individual consumers [9]
October 15, 2020 - Financial sanctions against small and micro business entities from areas fully and partially occupied, as well as front-line territories, were lifted [10]
May 29, 2021 – President Ilham Aliyev inaugurated a new building of the Ministry of Economy.[11]
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