In the first half of 2014 the volume of freight traffic on the Silk Road on the Azerbaijani territory was 6,335,900 tons, which is 15.2% less than in the comparable period of 2013, the State Statistics Committee told Turan.
According to SSC, income of the carriers decreased uniformly. In the six months the income of the carriers of goods in the Azerbaijan section of the TRACECA transport corridor totaled 61,451,500 manats, which is 15% less than last year.
Azerbaijan plans to increase freight traffic on the corridor due to the construction of the Baku-Tbilisi-Kars (BTK) railway. Yesterday in the capital of Georgia the 20th meeting of the Coordinating Council of the project was held with the participation of high-ranking representatives of Azerbaijan and Georgia.
Parties said to the media that they continue to work safely and the main phase of construction work on the territory of Georgia will be completed by the end of this year. The railway line will be commissioned in 2015. It is assumed that the BTK railroad will connect to networks TransEutrope and TransAsia, which will boost the volume of freight and passenger traffic. --08D--
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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