Azerbaijan and Iran to Discuss Prospects for Improving Transport Corridor North-South
The process of creating the infrastructure of the transport corridor North-South is again on the agenda of the governments of Azerbaijan and Iran. Next week the government delegations of the two countries will hold a business meeting on the construction of cross-border rail communications.
According to the Ministry of Economy and Industry, the meeting with the participation of experts and interested agencies of the two countries will take place on 9-10 October in Lankaran and Astara, Azerbaijan and Iran. The segment of Astara (Azerbaijan) - Astara (Iran) will be examined.
The State Commission on economic, trade and humanitarian spheres between Azerbaijan and Iran last met in Tehran on August 3-4 this year. The sides reached an agreement on the improvement of the international transport corridor North-South, which connects Russia and Iran via Azerbaijan.
A few years ago the railway authorities of the three countries actually agreed on the mechanism of resolving the issues of funding and construction of several sections of the railway line, which will connect the railways of Russia, Azerbaijan and Iran in the territory of the latter two countries. Later, however, for publicly unknown reasons, the process has been suspended. ----08D
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review