Yesterday Azerbaijan and Russia signed a bilateral agreement on the Green Card motor insurance system, as the Executive Director of the Russian Green Card Office Sergey Razuvan stated during his speech at the VII Azerbaijan International Insurance Forum. According to him, the agreement will come into force on August 1 this year.
Yesterday the Director of the Compulsory Insurance Bureau Elkhan Guliyev spoke at the same event about the difficult and problematic negotiations over the understanding; the Russian side was a supporter of policies (insurance contracts) under the CTP, valid in the occupied territories of Azerbaijan. Now the question is resolved within the territorial integrity of our country. After the withdrawal of the occupation troops, Russian insurers will again be able to issue full-scale civil liability policies to motorists - the citizens of this country.
The international motor insurance Green Card system has been operating since 1951 and its main goal is the settlement of claims of the victims of road accidents with the participation of foreign motorists, in accordance with the national legislation of the country in which the insured event occurred.
The Green Card system includes 48 countries: the whole of Europe, including Russia, as well as Israel, Morocco, Tunisia and Iran.
In Azerbaijan, the national office of the international system Green Card is the Compulsory Insurance Bureau (CIB), which includes 16 local insurance companies - 13 of them have the right to sell CTP insurance policies and are connected to the Green Card system. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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