In the course of the meeting between the Chairman of the Board of CJSC Azerbaijani Railways Javid Gurbanov and the Chief Executive Officer of DHL Company for Eastern Europe Steve Hyuang in Istanbul a memorandum of intent was signed on establishing a regional logistics hub in Azerbaijan.
As the press service of the Azerbaijani Railways said, transit goods coming from China to Azerbaijan will be distributed later to Turkey, Europe and Russia via this hub.
The Azerbaijani Railways did not specify the location of the logistics hub. It might be the Baku International Trade Port built in the Alat settlement, in whose territory it is also planned to create a free economic zone. ---08D
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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