Ganja Automobile Plant (GaAZ) plans to expand its production capacity. To this end, it has recently signed a memorandum with the Minsk Automobile Plant (MAZ) and a license agreement with JSC KamAZ (Russia).
According to the press service of GaAZ, during the visit of Director General of MAZ Dmitry Katerinich to Azerbaijan the sides signed a memorandum of cooperation, providing for the opening of centers for sales and service, and selling the output to third countries.
Ganja was also visited by the General Director of JSC KamAZ Sergey Kogoghin, which in general was satisfied with the condition of assembly of trucks at the plant.
In 2014, Azerbaijan collected 284 units of trucks (+ 15%) and 1,265 tractors (+ 71%).
The average salary of automakers in Azerbaijan is 291.2 manat per month, which is 2.4 times less than the average in the industry in 2014. ----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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