Over the first eight months of 2013 transit cargo carriages on the Azerbaijani section of Corridor TransEvropa-Caucasus-Asia (TRACECA) amounted to 9.8 million tons. This is by 8% less than over the same period 2012.
According to State Statistics Committee (SSC), the share of railway is 4375 tons (down 14.2%) , maritime transport - 5 434.7 thousand tons (-2.3 %) transit. Income from transit totaled 95 486.6 thousand mantas, by 8.8 % less compared with the same period of last year.
Interregional program of TRACECA technical assistance was initiated in May 1993 to develop a transport corridor from Europe through the Black Sea, the Caucasus, the Caspian Sea with access to the Central Asian countries. The countries involved in this project apply reduced rates for freight. --08D—
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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