The Ministry of Finance of Azerbaijan has prepared an "Action Plan for the development of the insurance market in 2015-2017."
According to the department, the plan of the upcoming tasks until 2018 was discussed at the extended Board meeting of the Ministry of Finance, which marked the problems associated with the violation of the rights of policyholders and other beneficiaries that are not protected properly. The main reason is the gaps in law enforcement.
The Action Plan includes further improvement of legislation to protect the rights of policyholders, public education in matters of security, training of professional participants of the insurance market, and the market introduction of new types of insurance. --17D-
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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