The five-year term of office of Neil McCain, head of the European Bank for Reconstruction and Development (EBRD) office in Azerbaijan has been completed.
As stated in the EBRD local office's report, the official has been appointed EBRD Director for Central Asia.
Azerbaijan has been a member of the EBRD since 1992, during which the bank has allocated 2.5 billion Euros for 162 economic projects, mainly in small and medium-sized enterprises, which is the biggest indicator in the South Caucasus. --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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