Azerbaijan

Troubled loans constitute 8% in total loan portfolio
Finance
Troubled loans constitute 8% in total loan portfolio
  • 30 January, 2020
  • 12:16
Azerbaijani banks post decrease in external liabilities
Finance
Azerbaijani banks post decrease in external liabilities
  • 30 January, 2020
  • 12:11
Effective exchange rates of Azerbaijani manat go up
Finance
Effective exchange rates of Azerbaijani manat go up
  • 30 January, 2020
  • 12:06
Coronavirus: Azerbaijan creates working group
Health
Coronavirus: Azerbaijan creates working group
  • 30 January, 2020
  • 12:03
Government mortgage lending declines by 36% in Azerbaijan
Finance
Government mortgage lending declines by 36% in Azerbaijan
  • 30 January, 2020
  • 11:58
Samed Seyidov calls on PACE to stop pressure on Azerbaijan
Foreign policy
Samed Seyidov calls on PACE to stop pressure on Azerbaijan
  • 30 January, 2020
  • 11:39
Ambassador: UK is confident that relations with Azerbaijan will strengthen after Brexit
Foreign policy
Ambassador: UK is confident that relations with Azerbaijan will strengthen after Brexit
  • 30 January, 2020
  • 11:29
Azerbaijan sees more than 3% rise in bank deposits
Finance
Azerbaijan sees more than 3% rise in bank deposits
  • 30 January, 2020
  • 11:18
Azerbaijan sees 18% rise in provision of crediting
Finance
Azerbaijan sees 18% rise in provision of crediting
  • 30 January, 2020
  • 11:15
Turkic Council Foreign Ministers to meet in Baku
Foreign policy
Turkic Council Foreign Ministers to meet in Baku
  • 30 January, 2020
  • 10:11
Weather forecast for January 31 announced
Ecology
Weather forecast for January 31 announced
  • 30 January, 2020
  • 10:08
Macron says France 'one of main guarantors' of peaceful negotiations on Karabakh conflict
Karabakh
Macron says France 'one of main guarantors' of peaceful negotiations on Karabakh conflict
  • 30 January, 2020
  • 10:02
Two-day meeting of Azerbaijani and Armenian FMs ended in Geneva-UPDATED-2
Karabakh
Two-day meeting of Azerbaijani and Armenian FMs ended in Geneva-UPDATED-2
  • 30 January, 2020
  • 09:59
Erkan Özoral: Azerbaijan provided all necessary assistance after earthquake in Turkey
Foreign policy
Erkan Özoral: Azerbaijan provided all necessary assistance after earthquake in Turkey
  • 30 January, 2020
  • 09:26
Marneuli municipality to implement infrastructure projects
Region
Marneuli municipality to implement infrastructure projects
  • 30 January, 2020
  • 09:15
British Ambassador: Leaving the EU is not a leaving Europe
Foreign policy
British Ambassador: Leaving the EU is not a leaving Europe
  • 30 January, 2020
  • 09:12
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Azerbaijan: History, Geography, Economy, and Culture

Azerbaijan (officially the Republic of Azerbaijan, azerb. Azərbaycan Respublikası) is a transcontinental sovereign state located in the Caucasus region at the crossroads of Eastern Europe and Western Asia. Bounded by the Caspian Sea to the east, Russia to the north, Georgia to the northwest, Armenia to the west, and Iran to the south—with an exclave in Nakhchivan bordered by Turkey—the country spans over 86,600 square kilometers. As a secular democratic republic with its capital and largest city in Baku, Azerbaijan is renowned for its ancient history as the "Land of Fire," its immense energy resources, and its rapidly modernizing geopolitical and economic standing.

1. Geography and Environment

Varied Landscapes: Despite its moderate size, Azerbaijan encompasses nine of the world's eleven climate zones, featuring the dramatic mountain ranges of the Greater and Lesser Caucasus, fertile river valleys, and the vast expanse of the Caspian coastline.

Natural Wealth: The country possesses profound natural reserves, notably immense offshore oil and natural gas fields, as well as mineral deposits including iron, aluminum, and copper.

2. Historical Background and Statehood

Ancient and Medieval Roots: The territory has hosted ancient civilizations, Caucasian Albania, and prominent medieval states and principalities, serving as a vital nexus along the historic Silk Road connecting East and West.

Democratic Republic and Soviet Era: In 1918, Azerbaijan established the Azerbaijan Democratic Republic—the first secular parliamentary republic in the Muslim world. Following incorporation into the Soviet Union as the Azerbaijan SSR, the nation restored its full independence on October 18, 1991, following the dissolution of the USSR.

3. Economy and Infrastructure

Energy Backbone: Azerbaijan is a major global energy supplier, anchored by monumental infrastructure projects like the Baku-Tbilisi-Ceyhan oil pipeline and the Southern Gas Corridor, supplying energy security across Eurasia.

Diversification and Transport: Beyond oil and gas, the economy features robust agricultural sectors (renowned for cotton, tea, citrus fruits, and wine), a growing non-oil industrial base, and strategic transport corridors linking Central Asia and China with Europe via the Trans-Caspian International Transport Route.

Global Hosting: The country has built a strong international reputation for hosting major global events, including the Formula 1 Azerbaijan Grand Prix, high-profile sports championships, and international climate forums such as COP29.

4. Culture, Heritage, and Arts

Cultural Tapestry: Azerbaijani culture is celebrated for its rich musical heritage (including traditional Mugham, recognized by UNESCO), intricate carpet-weaving traditions, exquisite cuisine (such as plov, dolma, and kebabs), and world-class architectural monuments like the UNESCO-listed Old City of Baku and the medieval petroglyphs of Gobustan.