The volume of transit freight transport corridor TRACECA on the territory of Azerbaijan for two months this year amounted to 1,925,600 tons. This is 32.5% less than in the comparable period of 2013.
According to the State Statistics Committee, transportation decreased mainly by rail. Trains of Azerbaijan Railways (ARD) transported in January-February 696 800 tons of cargo , which is 48.2 % less than in the same period last year.
The head of the Department of Freight Transportation of ARD, Panah Karimov refused to comment on the reasons for the reduction in the transport corridor Silk Road.
Reduction in the income of the carriers was caused by a drop in the transportation volume. In the 2 months in 2014 the railroad and JSC Azerbaijan Shipping Company earned from the transit 20.3 million manat. The revenues fell at an annualized rate of 24.1 %. -08D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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