In January-March this year the TRACECA transport corridor via Azerbaijan transported 1 million 738.1 thousand tons of cargo. This is by 35.3% less than in the first quarter of 2015, the State Statistics Committee told Turan.
Paradoxical is the fact that in this period the carriers gained 13.2 million manats, or 45.5% more than in the comparable period of 2015. Perhaps this is due to the devaluation of the manat. Contracts for transit freight traffic are usually in US dollars.
The TRACECA project is funded by the European Union for the development of a transport corridor from Europe through the Black Sea, the Caucasus, and the Caspian Sea with access to the Central Asian countries. -----08D
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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