In the first half of this year, production of iron fittings in Azerbaijan decreased by 23.7%. According to the State Statistics Committee, over six months were produced 100.7 thousand tons of reinforcement. According to unofficial data, the only manufacturer of these products in the country is LLC "Baku Steel Company", which tells about production capacity to 1 million tons per year. During commissioning in 2001 a Furnace and production lines allowed to produce 350 thousand tons of finished products per year. The company does not have problems with sales and therefore, it is difficult to explain the declining trend in the volume of production, against monopolization of the market of construction fittings.
Over half of the volume of production in metallurgical industry in Azerbaijan amounted to 143.2 million manat, which is by 14.8% less than in the same period of 2013.
According to the State Customs Committee, over the first five months of this year, Azerbaijan imported 77,080.6 tons of iron rods and fittings at total declared value of $ 44,123,700. --08B--
Economics
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
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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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