In the insurance reporting on Form 11 by the Ministry of Finance for the past year there are some unclaimed items. In the life insurance segment premiums are not collected on insurance annuity (additional charges to the salary or pension) and disability insurance.
Mortgage insurance, and insurance of real estate from falling market prices (property insurance segment ) is also not interested for local insurers.
The segment of compulsory insurance also has gaps - health workers, government officials and the diplomatic corps are not insured upon AIDS.
According to one member of the State Insurance Supervision Service (we do not call him because of the ban imposed by the Finance Ministry), the mentioned types of voluntary insurance are not popular due to the underdevelopment of mechanisms and because of the high risk associated with low profitability. In addition, potential purchasers of the benefits do not show initiative, and the insurer is not interested in these positions.
Beginning this year, the diplomatic corps will be insured on a mandatory basis, and the prospects of two other positions are considered, he said. - 17D-
Economics
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Under the leadership of Alhaj Nooruddin Azizi, the Acting Minister of Industry and Trade of Afghanistan, a trilateral meeting was held this week involving key representatives from Uzbekistan and Azerbaijan to strengthen cooperation in the sectors of trade, investment, and transport.
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According to new data from the State Border Service, Azerbaijan has seen a significant surge in foreign visitors during the first seven months of 2024. A total of 1.5027 million foreigners and stateless persons arrived in the country from 182 countries, marking a 31.4 percent increase compared to the same period in 2023. The rise underscores the growing appeal of the country as a destination for international tourists and business travelers, supported by favorable travel conditions and economic opportunities.
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Azerbaijan's foreign trade operations suffered significantly in the first seven months of 2024: the total trade volume reached $26.89 billion, which is 11.3% less than in the same period last year, according to data published by the State Customs Committee (SCC). The country's exports and imports showed divergent trends, raising concerns about external market conditions and economic strategy.
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Azerbaijan has implemented several key projects to create infrastructure for exporting its gas to the European Union, boosting its role as a crucial energy supplier amid growing demand in Europe, economist Gubad Ibadoglu said in an article. The Baku-Tbilisi-Erzurum gas pipeline, launched in early 2007, was one of the first steps. This pipeline, with an annual capacity of 8.2 billion cubic meters, is part of the 690-kilometer South Caucasus Pipeline (SCP), which facilitates the export of gas from Azerbaijan's Shah Deniz field to Georgia and Turkey.
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