In August the members of the local Bureau Compulsory Insurance (ISB) gathered under the civil liability insurance of vehicle owners to third parties (insurance) 7.2 million mantas (minus 6% last year to August.) According to the monthly report accumulating structure for this type of 11 companies signed 89 thousand. 193 contract (minus 9.6%).
Selling insurance policies on the new tariffs and conditions started on December 16, 2011. The basic rate of 50 manats is applied to vehicles with an engine capacity of up to 1,500 cubic cm. The maximum rate - 5 is applied in respect of transport with engine capacity of 5,000 cubic cm, and the insurance rate is 250 manat.
For buses and vans involved in transport passengers with the number of seats from 9 to 16 is applied coefficient 3 to the base tariff, more than 16 seats - the coefficient 4. For freight rate is 3 to 5, depending on the maximum load capacity. For motorcycles, tractors and other agricultural machinery ratio is 1. --17D-
Economics
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Azerbaijan’s rice imports have surged as domestic production struggles to meet growing demand, underscoring the country’s reliance on foreign suppliers. Despite government initiatives to boost output, local production remains stagnant, with only 10,000 tons expected in the 2024-2025 season, while imports reached 55,961 tons between January and October 2024.
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Azerbaijan and Pakistan have signaled a growing commitment to deepen energy cooperation, with a focus on renewable energy initiatives, as Azerbaijani Energy Minister Parviz Shahbazov hosted a delegation led by Pakistani Federal Minister Abdul Alim Khan in Baku on January 30.
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Oil from Kazakhstan's largest field, Kashagan, has begun flowing into the Baku-Tbilisi-Ceyhan (BTC) pipeline. According to information from SOCAR, the first batch of this oil was received at the Sangachal terminal on January 27 and will be transported via BTC to the port of Ceyhan.
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Azerbaijan is accelerating the implementation of its socio-economic development strategy, focusing on digital transformation and strengthening cybersecurity. The government is allocating resources to human capital development, prioritizing the training of cybersecurity professionals, said Farid Osmanov, Chairman of the Board of the Innovation and Digital Development Agency, on January 30 during the fourth “Graduation Day” of the Azerbaijan Cybersecurity Center (AKM).
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