Interruption in Georgian Poti Port’s Operation Causes Increase in Prices in Automobile Market in Baku

Business Materials 22 August 2008 16:58 (UTC +04:00)

Azerbaijan, Baku, 22 August / Trend corr. U.Ismauilova / According to Ramin Osmanov, an expert from the public organization "Participants of real estate market", the frequent interruption in operation of the Black Sea Poti port will cause 12% increase in price of sold automobiles in Georgian and Azerbaijani second markets.

"The visible consequences cuts in the second automobile market in Baku will be felt in September and early active automobile season," Osmanov said on 22 August.

Light oil products are transported through Poti port via the railway from Azerbaijan and Central Asia.

On 16 August, an explosion took place on the railway bridge near the Caspian city in Georgia. Therefore, the oil product transport was suspended via the railway road. The repairs on the bridge were delayed because of presence of Russian troops in Poti port.

Some 9% drop in prices has been observed in the second automobile market in Baku for recent two months.

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