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[BUSINESS] · Azerbaijan · 2 sources

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Azerbaijan merges silk and carpet industries under new decree

President Ilham Aliyev has signed a decree to merge Azerbaijan's silk and carpet industries under a single management structure to diversify the non-oil sector and preserve national craftsmanship. Under the new directive, Azeripək JSC will be merged into Azerkarxala JSC.

As part of this reorganization, the privatization process for state shares in Azeripək JSC has been halted. Additionally, the Qax District Breeding Silk Station, which operates under the Ministry of Agriculture, will be transferred to the jurisdiction of Azerkarxala JSC along with all its assets.

Experts suggest this consolidation aims to optimize the entire production chain, from raw material production to the export of finished goods. The move is expected to strengthen the local raw material base, create new jobs in regional areas, and increase employment opportunities for women.

Entities

Azerbaijan · Azeripək JSC · Azerkarxala JSC · Ilham Aliyev · Ministry of Agriculture of Azerbaijan