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108 DOING BUSINESS IN AZERBAIJAN All segments of Azerbaijan’s transport industry are experiencing rapid growth. Shipping, for example, has enjoyed an average annual growth rate of almost 20% since the mid-1990s. Aviation is one of the leading segments, with a cumulative investment exceeding 200 mln USD in recent years. Rails transportation is growing at a similar pace, largely due to ever-increasing volumes of goods in transit across the country. Pipeline transport of oil and gas is also expected to grow rapidly over the next few years as largescale oil projects come on stream. Total 1242161 thousand passengers has been conveyed in 2008. The transport sector in Azerbaijan, comprising railway, aviation, roads and maritime shipping, amounts for about 7% of domestic output. Azerbaijan has taken significant steps to implement structural reforms in the transport sector and has implemented significant improvements in rehabilitation and construction of roads, railways, and other infrastructural installations. In June 2003 the Ministry of Transport’s functions and duties were radically amended to achieve a clear differentiation between transport policy and transport operation. This was a significant step towards modernizing the transport sector in Azerbaijan. Particular attention is being paid to the role of multi-modal transport to serve the needs of Euro-Asian logistics. This involves the establishment of a favourable transit environment, delivering smooth transportation of goods and passengers across the region. Azerbaijan stresses the importance of developing efficient Euro-Asian trading links as a means of increasing prosperity and improving the living standards of the people of all countries involved. All this helps Azerbaijan in its effort to integrate into the global economy. The Government of Azerbaijan together with the private sector is actively involved in the cooperation with international donor
agencies and investors in transport. Such institutions as the World Bank, EBRD, EU-TACIS and ADB are active both in the country and in the region. Azerbaijan strongly supports regional transport initiatives and promotes international transit transportation. Its infrastructure projects include the construction and rehabilitation of railways, highways, ports, and airports. The European Union (EU) sponsors development of the transport sector through both TRACECA and national projects. The EU goals include linking the East-West transport corridor to the Trans- European Networks. The European Bank for Reconstruction and Development (EBRD) is investing in capital projects in ports, railways, and roads, including involvement with TRACECA. Private investors are currently investigating opportunities for an international logistics centre close to Baku, with access to rail, road and water transportation. The international logistics centre will become the primary hub for transport and industry. Investments in the transport sector are welcome in Azerbaijan and the country offers a variety of Public Private Partnership (PPP) investment models. In order to bring Azerbaijan roads up to world standards Government invests huge capitals to infrastructure projects (in 2008 total amount of investments was 1.9 bln. AZN). Only in Baku a number of bridges, over- and underground passageways are planned to be build. New concrete surface roads using German technology, connecting Baku with Russia is under construction. SECTORS REVIEW Azerbaijan’s active role in the establishment of the Transport Corridor for Europe, the Caucasus and Central Asia (TRACECA), together with its being the base for the TRACECA Intergovernmental Commission (IGC), is a powerful indication of its open transport policy. The TRACECA IGC, which includes in its membership Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan (Central Asia), the three Caucasian States and Bulgaria, Moldova, Romania, Turkey and Ukraine, was set up to promote transportation on this corridor, remove non-physical barriers, establish transport-related communication links and to promote logistics capabilities and multi- modal transport. More information on TRACECA can be obtained via www. traceca-org.org 109
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“During recent five years, the ec
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OVERVIEW OF THE REGIONS 127 Abshero
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Heydar Aliyev, President of the Rep
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2009 DOING BUSINESS IN AZERBAIJAN 2
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Abundant resources Azerbaijan is ri
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The Government will continue the po
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places in the ranking, the biggest
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of documents produced and executed
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the JSC only to the extent of their
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esponsible for its obligations. Lik
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• Ownership and other property ri
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government agency entrusted to exer
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labour duties when no notice is req
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Overtime and work during days-off (
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Azerbaijani law recognizes several
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Currency regulation & repatriation
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Residents can export hard currency
Page 57 and 58: on cars, buses and trucks depending
Page 59 and 60: Accounting The new Accounting Law 2
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Page 81 and 82: of Azer baijan’s total reserves).
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Page 95 and 96: While in 1991 only 39 thousands hec
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Page 115 and 116: Significant works continued in 2008
Page 117 and 118: It should be noted that since 1993
Page 119 and 120: Disclosure Requirements The Civil C
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Page 129 and 130: Aran economic region Aran is centra
Page 131 and 132: asphalt, mineral waters, spinning a
Page 133 and 134: The region is rich in brick, bank s
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2009 DOING BUSINESS IN AZERBAIJAN 1
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Tel.: (+99412) 4985094 Fax: (+99412
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Tel.: (+99412)4901323; Fax:(+99412)
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Tel: + 420 246032422; Fax: + 420 24
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Tel.: (73172) 24 15 81; Fax: (73172
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Tel.: +966(1)4192382; Fax: +966(1)4
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Tel.: (99412) 4901234; Fax: (99412)
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Consultant services Tel.: (99412) 4
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This publication prepared by: AZERB
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