TODAY.AZ / Business

Azerbaijan plans to raise investments to transport sector by $7 bln

29 April 2008 [12:19] - TODAY.AZ
The volume of investments to Azerbaijan's transport sector has been increased by over $1,000,000,000 through the last two years.
According to Novosti-Azerbaijan, the due announcement was made by Azerbaijan's Deputy Transport Ministry Musa Panakhov.

"It is proposed to raise it by another $7 bln in the coming five years", said Panakhov while speaking at the international conference "GUAM-Transit", which started in Baku.

He said the transport's share in the GDP made up 6.2% which is 11.5% higher as compared to the same indicator of the previous year. The volume of cargo transportations made up 167,000,000 tons with 15% rise in 2007.

Speaking about the transport corridors, Panakhov called the West-East, North-South, TRASECA development, which include GUAM countries as those of special priority.

He said the new Kars-Akhalkalaki-Baku railroad will promote transportations from Europe to Asia and vise versa.

"By initial estimates the annual volume of cargo transportations by the said route nears 5 mln tons and there is a plan to raise it to over 10 million tons in the future", said the deputy minister.

He called the transportation of combined supplies, expansion of information control and flexible tariff system to be the priority trends in the transport sector of Azerbaijan.

He also touched upon the existing conflicts and their influence on the development of transport contacts.

"The conflicts resolution will promote peace and restoration of suspended transport ties which are today the hindering factors, owing to which Azerbaijan loses millions in incomes. In conditions of peace the transport infrastructure will become more competitive and safer", said Panakhov.

It should be noted that the two-day international conference "GUAM-Transit" started in Baku Tuesday. The conference participants will discuss the current state of the GUAM transit corridor, improvement of its potential and attraction of international support and investments, pilot projects within the GUAM corridor and prospects of raising cargo flow, unification of the system of frontier and customs control as well as a number of other issues.

GUAM Secretary General Valery Chechelashvili, national coordinators of GUAM, heads of due ministries and departments, business-circles of the GUAM member-states, partner countries, international organizations and financial structures have arrived for participation in Baku. 
URL: http://www.today.az/news/business/44628.html

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