Azerbaijan preparing for next TRACECA investment forum

Economy Materials 5 September 2014 21:00 (UTC +04:00)

Baku, Azerbaijan, Sept.5
By Emil Ismayilov - Trend:

The third investment forum under the TRACECA (Europe-Caucasus-Asia) international program for cooperation in the sphere of transport will be held in the first quarter of 2015, TRACECA National Secretary from Azerbaijan Akif Mustafayev told Trend on Sept.5.

The main purpose of the investment forums is to attract investors to participate in the projects of TRACECA member states.

"The exact date and place of the forum hasn't been decided on yet, but it is expected to be held in the first quarter of 2015 in one of the European cities," Mustafayev stressed.

He said that currently, the Azerbaijani side, in particular, the Ministry of Transport, the State Customs Committee and the Ministry of Economy and Industry are working on the proposals for participation in the forum.

Two investment forums were held under the TRACECA program in Brussels with the support of EU in 2011 and 2012.

TRACECA is a program of cooperation in the field of transport among the EU and its partner countries in Eastern Europe, South Caucasus and Central Asia. The organization has a permanent secretariat in Baku.

Currently, TRACECA member-states are Azerbaijan, Bulgaria, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Romania, Tajikistan, Turkmenistan, Turkey, Ukraine, Iran and Armenia.

Around 59 million metric tons of cargo was transported through the Azerbaijani segment of the corridor in 2013, which is 3.8 percent more than in 2012. Around 285.2 million people were transported within the corridor in 2013, which is 9.3 percent more than in 2012.

The revenues from transportation of goods within the corridor in 2013 amounted to 476.4 million AZN, which is 7.5 percent more than in 2012. The revenues from passenger transportation amounted to 106.5 million AZN in 2013, which is 15.8 percent more than in 2012.

The official exchange rate on Sept.5 is 0.7843 AZN/USD.