Azerbaijani and Belarusian Trucks to Transport Cargoes Mutually Freely
The Azerbaijan-Belarus joint commission for international road transport came to an agreement regarding the use of authorization forms for freight, as well as the exchange of permits for international road transport.
This was announced at the end of a joint meeting which ended in Baku yesterday. As stated in the Intelligent Transport Management Center, the Commission signed the final protocol. From the Azerbaijani side it was the Head of State Vehicle Service under the Ministry of Transport Elnur Abdullayev, and from the Belarusian side - the Head of the Road and Urban Transport and Communications Department of the Transport Ministry Sergey Dubin. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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