The international transport corridor North - South is entering the implementation stage.
In Minsk on the eve of the 62nd session of the Council for Rail Transport of CIS CJSC Azerbaijani Railways and JSC Russian Railways signed a memorandum of cooperation. The document was signed by the heads of the departments, Javid Gurbanov and Vladimir Yakunin.
The information board says that the document is intended to intensify use of the transit potential of rail transport of both countries to increase the volume of traffic on the route Iran - Azerbaijan - Russia - Europe. The memorandum provides for the development of the international border crossing Yalama (Azerbaijan) - Samur (Russia) and approaches, the introduction of electronic document management, fulfillment of financial obligations and the establishment of competitive tariffs for transportation of passengers and cargo, the effective use of freight cars and so on.
For the implementation of the memorandum a working group will be established. --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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