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Baku/15.12.22/Turan: Representatives of the state structures of Azerbaijan and Georgia in charge of customs operations met on December 14 at the trade facilitation center of the State Customs Committee of Azerbaijan in Gazakh region to discuss issues arising from the establishment of a joint border checkpoint "Ipek Yolu – Abreshumis Qza".
The sides exchanged views on legal, financial and technical issues due to the establishment of a joint customs and border checkpoint in accordance with an agreement between the governments of the two countries signed in Baku on September 29, 2021.
At the meeting, the expert of the Asian Development Bank Radomir Jurik voiced proposals for the creation of a joint CCI between Azerbaijan and Georgia and made a presentation, the press service of the State Customs Committee of Azerbaijan reports.
Note that the delegations were headed by Deputy Chairman of the State Customs Committee Javad Gasimov and Deputy Head of the Revenue Service of Georgia Vladimir Khundadze. -08D-
Economics
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In a significant development for the North-South international transport route, exploration work on the Rasht-Astara railway section, which will connect Azerbaijan and Iran, is scheduled to begin in June 2024. This announcement was made by Dmitry Zverev, the Deputy Minister of Transport of the Russian Federation, during the XV International Economic Forum "Russia – the Islamic World: KazanForum 2024," as reported by TASS.
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Azerbaijan’s once-burgeoning oil revenues are on the decline, posing a significant challenge for the nation’s economy. The State Oil Fund of Azerbaijan (SOFAZ) is projected to receive approximately $5 billion from oil sales this year, a sharp drop from previous years. In 2022, buoyed by high oil prices, revenues surged to about $10 billion. However, last year’s figures dipped to just over $6 billion, and further declines are anticipated due to decreasing production.
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Aliya Asimova, representative of the International Finance Corporation (IFC) in Azerbaijan, outlined the organization's renewed focus on combating climate change during her address at the business forum "Raising Ambitions and Stimulating Activities: Forum Sustainable Business COP29."
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