On Thursday Ilham Aliyev discussed issues of financing the TANAP project with Vice-President World Bank's Europe and Central Asia Cyril Muller. Aliyev highly appreciated the financial support of the World Bank for the implementation of the "Southern Gas Corridor", noting that TANAP will be completed on time.
* TANAP gas pipeline and its extension to Europe - the TAP pipeline. The main objective of the project is to increase the security of gas supplies to Europe, reducing the share of Russia as a gas supplier. TANAP is estimated at $10-11 billion. Part of the funds allocated the World Bank. It is planned to begin the first deliveries in 2018 to Turkey, and then in 2019 - to Europe. In the first stage the throughput capacity of a new pipeline is estimated at about 10 billion cubic meters per year, with the possibility of further expansion up to 20 billion cubic meters a year.-02D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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