On December 10 in Washington D.C., a briefing will be held on the "Trans-Caspian trade and transit corridor: the role of the Baku International Sea Trade Port in the connection of East and West."
According to the US-Azerbaijan Chamber of Commerce, transshipment capacity of the port complex in the first phase will amount to about 10 million tons of cargo, containers - about 40 thousand TEU, in the second stage - about 17 million tons of cargo and about 150 thousand TEU of containers, and at the third stage - up to 25 million tons of cargo and about 1 million TEU of containers.
Recall, the first stage of the construction (begun in 2007) of the port in the Alat settlement completed in June 2014, and in 2017 the complex will be commissioned in full. --17D-
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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