In August 2016 there were registered 93,355 contracts on compulsory motor third party liability insurance, according to the Compulsory Insurance Bureau. Turan said 14,062 of these contracts accounted for insurance of cars with a foreign registration, using the territory of Azerbaijan for transit.
During this period, total insurance premiums on standard and border insurance contracts amounted to 7.4 million AZN.
Compared to July 2015, there was recorded an increase of 4.7% in the number of insurance contracts, and the insurance payments increased by 2.6%.
In August 2016 insurance companies increased the payments on compulsory motor insurance in comparison with August 2015 by 33% (2,493,616 AZN).
Payments were made in 1,986 insurance cases. ----72D
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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