On July 18, 2024, political consultations between the Ministries of Foreign Affairs of Turkmenistan and Romania took place in Bucharest. The Turkmen side was headed by Deputy Minister of Foreign Affairs of Turkmenistan Akhmet Gurbanov, the Romanian side was headed by Secretary of State of the Ministry of Foreign Affairs of Romania Ana Tinka.
Turkmenistan, Azerbaijan, Georgia, and Romania are set to sign a quadrilateral intergovernmental agreement to establish the international transport route "Caspian Sea – Black Sea" in Bucharest in 2024, the Ministry of Foreign Affairs of Turkmenistan reported on Tuesday.
The announcement followed discussions in Bucharest between Adrian Gheorghe Focsa, Secretary of State of the Ministry of Transport of Romania, and Akhmet Gurbanov, Deputy Minister of Foreign Affairs of Turkmenistan. The officials held "an in-depth and engaged dialogue on all key areas of the bilateral agenda, including issues of political and diplomatic cooperation, trade, economic, cultural, and educational partnership," the ministry said.
The route aims to enhance connectivity between Europe and Central Asia, facilitating the movement of goods and boosting regional trade. This initiative aligns with earlier reports of potential Turkmen gas supplies through Azerbaijan and Georgia to Turkey.
The European Union has expressed strong support for the project, planning to invest 10 billion euros in the Trans-Caspian Transport Corridor, which will link Europe and Central Asia. The investment underscores the EU's commitment to strengthening economic ties and energy security in the region.
Economics
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Proposals for increasing the minimum wage in Azerbaijan will be prepared. This is stated in the "Labor Market" working group's 2024 Action Plan of the Business Environment and International Ratings Commission.
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Environmental protection expenditures in Azerbaijan surged 2.9 times in 2023 compared to the previous year, reaching 677.4 million manats, equivalent to 0.6 percent of the country's gross domestic product, the State Statistics Committee reported.
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According to the State Border Service of Azerbaijan, 179,000 foreigners and stateless persons arrived in Azerbaijan in the first half of 2024, marking a 34.0% increase compared to the same period last year. The visitors hailed from 1231.1 countries.
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BAKU, July 22 (Reuters) - The Cabinet of Ministers of Azerbaijan has approved several amendments to the "rules for stopping the movement of foreign exchange assets and national currency during cross-border transportation," as per the resolution dated February 12, 2024, No. 83.
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