According to SOCAR, in 2014 export of Turkmenistan and Kazakhstan oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline totaled 5,826,792 tons.
In 2013 transportation of oil of the third countries via BTC exceeded 3.5 million tons.
Transportation of Kazakhstan oil via BTC has resumed since November 2013. Turkmenistan oil transportation via BTC started in July 2010.—0-
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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Countries in Europe and Central Asia must not only attract investment but also actively adapt and disseminate technology to ensure sustainable economic growth, according to Ivailo Izvorski, Chief Economist for the region at the World Bank. Speaking at the presentation of the World Development Report 2024, Izvorski highlighted structural issues that are slowing down private sector development.
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Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.
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