TODAY.AZ / Business

Azerbaijan's Railway sector key to trade growth and investment attraction

22 October 2024 [13:10] - TODAY.AZ

The railway sector is critically important for the development of Azerbaijan, playing a key role in attracting investments and increasing trade volume.

Orkhan Ahmadzade, acting head of the Research and Development Center of "Azerbaijan Railways" CJSC, made this statement at the information event titled "Innovations in Railway Technologies in Azerbaijan: Partnerships and Opportunities for German Companies," held in Baku, Azernews reports.

"At a time when Azerbaijan is rapidly becoming a center of trade and logistics, our location at the intersection of Europe and Asia allows us to occupy an important place on routes such as the Middle Corridor connecting China and Europe. The government is stable, transparent, and business-oriented, actively working to create a favorable environment for local and foreign investments, especially in infrastructure and logistics. These efforts help diversify the country's economy and position Azerbaijan as an important player in global trade," he said.

According to him, the railway sector is crucial for the development of Azerbaijan and plays a key role in attracting investments and increasing trade volume.

"Huge investments have been made to modernize and expand Azerbaijan's railway network. One of the main projects is the Baku-Tbilisi-Kars line, along with the development of the North-South and East-West corridors aimed at strengthening cross-border freight and increasing regional connectivity. These projects are not just infrastructure initiatives; they reflect Azerbaijan's commitment to becoming a Eurasian logistics center," added Orkhan Ahmadzade.

He emphasized that these projects are part of broader efforts to strengthen Azerbaijan's position as a key link in global supply chains.

URL: http://www.today.az/news/business/254253.html

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