Azeripek to merge with Azerkhalcha - DECREE

President Ilham Aliyev has signed a Decree on additional measures for the development of sericulture and carpet weaving in Azerbaijan, as well as the preservation and promotion of the national handicraft heritage, TodayPress TV reports.

Under the Decree, Azerkhalcha OJSC will be reorganized through the merger of Azeripek OJSC into the company.

The Gakh District Pedigree Sericulture Station, subordinate to the Ministry of Agriculture, will also be transferred, together with its property, to Azerkhalcha OJSC.

In addition, the privatization process of state-owned shares in Azeripek OJSC will be suspended.

The Decree envisages ensuring the sustainable development of sericulture and carpet weaving, strengthening the raw material base, improving product quality and export potential, as well as preserving and promoting national handicraft traditions.