The order of security in road transport has been amended. According to the decision of the Cabinet of Ministers of Azerbaijan №280 and №281 of August 15, the amendments are to enter into force from the date of publication.
Document №280 changed the rules of carriage of goods by road, adopted by decision №142 17 September 2009. According to them, truck owners will voluntarily insure their civil liability.
Document №281 changed the rules of road transport of passengers and baggage, approved by the №141 decision of 17 September 2009. The insurance became mandatory from voluntary. Now, the civil liability of passenger vehicles and private passenger insurance against accidents is carried out in accordance with the law on compulsory insurance. In addition, the drivers of these funds shall be subject to compulsory insurance against accidents at work and occupational diseases.
Insurance services for passenger carriers will be provided in the Bureau of Compulsory Insurance. -17D-
Economics
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On September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
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The number of passengers traveling by air from Azerbaijan has seen a significant increase in 2024, rising by 26.7% from January to September compared to the same period last year. According to the State Agency for Tourism, a total of 2,548,897 people used air transport services to travel to 40 countries during this period.
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Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
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Azerbaijan’s food imports have surged to unprecedented levels, with a significant rise recorded in the first nine months of 2024, according to data from the State Customs Committee. Food imports for January-September reached USD 1.755 billion, marking an 11.4% increase over the same period last year. This represents a USD 179.7 million increase compared to 2023, setting a record for food imports in the country’s history. Over the past decade, food imports have more than doubled, rising by 2.4 times, with a notable 52.5% growth in the last five years alone.
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