In January-July of 2016 in transit through Azerbaijan in the direction of East-West 4,197,900 tons of cargo was transported. Compared with the same period of 2015, transportation decreased by 1.6 million tons, or 28.3%, the State Statistics Committee told Turan.
The cargo transit mainly reduced due to the sale of Turkmen oil, bypassing the territory of Azerbaijan.
The government hopes to increase transit for the international transport corridor TRACECA by commissioning the Baku-Tbilisi-Kars railway, which is expected in late 2016 or early 2017. In order to ensure the logistics of the route the government has built a new seaport in the Alat settlement of Baku. ------08D
Economics
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Vahid Magerramov, Head of the Public Association for Support of Agrarian Reforms, has raised concerns over rising consumer prices in Azerbaijan, warning that the inflation trend could have serious economic consequences for the country.
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Silk production in Azerbaijan decreased by 32.9% year-on-year in the first eight months of 2024, reaching 239.4 tons, according to data released by the State Statistics Committee. The decline was attributed to a reduction in the number of silkworm seeds distributed to farmers, reflecting a longer-term trend in the sector's contraction, noted agricultural expert Vahid Maharramov.
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Sunniya Durrani-Jamal has officially taken office as the new Country Director of the Asian Development Bank (ADB) in Azerbaijan, succeeding Candice Mcdagan, who held the position since 2021. Durrani-Jamal brings over 25 years of professional experience, including 16 years in senior roles at ADB, to her new position. She previously served as ADB’s Regional Director in Cambodia and Senior Advisor to the Vice President for East Asia, Southeast Asia, and the Pacific.
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Azerbaijan's drive to diversify its economy is faltering, despite years of policy announcements and state programs aimed at reducing reliance on the energy sector. The country has struggled to implement effective diversification measures, leaving it vulnerable to external economic pressures, analysts said.
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