The Azerbaijani insurance company Gunay Insurance has been included in the Register of the insurers, who can work within the framework of the Green Card system, said the report of the Compulsory Insurance Bureau of Azerbaijan.
Generally Green Card includes 14 insurance companies in Azerbaijan. The international motor insurance system Green Card has been operating since 1951.
The main purpose of the system is the settlement of claims of road accident victims, committed with the participation of foreign motorists, in accordance with national legislation of the country where there was a traffic accident.
The system began operating in Azerbaijan in 2016.
The insurance policy issued by the companies participating in the Green Card system is valid on the territory of other countries which are a party to this agreement.
In addition to Azerbaijan, the Green Card system includes 48 countries: all the European countries, Russia, Israel, Morocco, Tunisia and Iran. ------77D
Economics
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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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