The IV Baku session of the joint intergovernmental commission for trade and economic cooperation between Azerbaijan and Serbia has been completed. As the result, a protocol was signed between the Minister of Economy and Industry of Republic of Azerbaijan Shahin Mustafayev and the Serbian Deputy Prime Minister, Minister of Trade, Tourism and Telecommunications Rasim Liaich.
The document envisages the continuation of cooperation in the fields of industry, investment, finance, trade, transport, energy, agriculture, ICT, health, youth and sports.
Mustafayev said the bilateral legal base includes more than 30 documents and allows the sides to develop a relationship without any restrictions and problems. As an example, he spoke about the construction of roads in Serbia, for which Azerbaijan provided a loan of $ 308 million Euros in 2012 for a period of 25 years with a three-year grace period at an annual rate of 4% per annum.
Recall, these funds finance the construction of sections of Motorway E-763 - Lzig-Bolzhkovci, Bolzhkovci-Takovo and Takovo-Prelzina. --17D-
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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