First Freight Train from Azerbaijan Arrives in Turkey via Upgraded BTK Railway
First Freight Train from Azerbaijan Arrives in Turkey via Upgraded BTK Railway
The inaugural freight train from Azerbaijan reached Turkey early on May 25, marking a significant milestone in regional connectivity via the recently upgraded Baku-Tbilisi-Kars (BTK) railway line. The train, laden with 632 tons of plastic raw materials in 20 containers, completed its journey from Baku to Kars.
Departing Baku on May 20, the train arrived at Kars station at 04:50 local time. Following the necessary customs procedures, the cargo was transported to the Kars logistics center.
The modernization and expansion of the 184-kilometer Georgian section of the BTK railway began on May 16, 2023, and concluded on May 20, 2024. These enhancements aim to solidify the railway's status as a key transport artery in the region, boosting its annual capacity to 5 million tons. This expansion is anticipated to greatly enhance the efficiency of cargo deliveries from China and Central Asian countries to Europe through Azerbaijan.
The volume of transit cargo on this route has surged, more than doubling in recent years to reach 6.8 million tons in 2023. This increase underscores the BTK railway's growing importance as a vital transport corridor across Eurasia.
In a strategic move to further improve railway operations and attract additional cargo, Azerbaijan and Georgia have established a joint venture to manage the BTK. This partnership is expected to enhance transportation efficiency and draw more freight traffic to this critical route.
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- Great East
- 25 May 2024 10:59
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- Finance
- 25 May 2024 11:03
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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