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.

[4][5] 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.

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.