Azerbaijan

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Azerbaijan is located on the southeastern part of the Caucasus, which stretches for more than 800 kilometers from the Black to the Caspian Sea. Lying at the crossroads of Europe and Asia, the country is uniquely positioned, and retains great significance for world economic and cultural links.

— Ministry of Foreign Affairs

Azerbaijan in CAREC

Azerbaijan joined CAREC in 2003
Since 2003, $2.82 billion has been invested in transport, trade, and energy
Azerbaijan currently has nine ongoing CAREC projects
Since 2005, two CAREC projects have been completed

CAREC Contacts

CAREC-related Projects

Rail Trade and Transport Facilitation Project
	Sector: Transport	Date approved / Status: 27 March 2008 (Ongoing)
	Expected outcome: The project will improve railway services in Azerbaijan, including the competitiveness, financial sustainability, operating and cost efficiency, and capacity of Azerbaijan Railway, in particular along the east–west transport corridor toward Georgia.
	Funding amount: $450 million (World Bank) $227 million (Government of Azerbaijan) $118 million (Other Fund Sources)

Baku to Samur
	Sector: Transport	Date approved / Status: 27 June 2005 (Ongoing)
	Expected outcome: The project will help promote economic development and regional trade, by improving a section of the main north–south road linking the Russian Federation and Iran with Baku, Azerbaijan.
	Funding amount: $100 million (European Bank for Reconstruction and Development)

Second Road Network Development Investment Program - Tranche 1
	Sector: Transport	Date approved / Status: 25 October 2012 (Ongoing)
	Expected outcome: The second investment program aims to generate economic growth in Azerbaijan and expand its trade with neighboring countries. The first project of the program focuses on providing an adequate, efficient, safe, and sustainable southern motorway corridor section that is connected to its capital Baku.
	Funding amount: $250 million (Asian Development Bank) $62 million (Government of Azerbaijan)

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Feature

Azerbaijan, Turkey business groups explore opportunities for cooperation. Industry groups expressed intent to establish business ties, including the development of the non-oil sector. Read more.
Sri Lanka interested in energy cooperation with Azerbaijan. The possibilities of cooperation between the two countries in the energy sector were discussed in a recent meeting. Read more.

Previous features

Economic Outlook

Highlights from the Asian Development Outlook 2013:
Growth reached 2.2% from near stagnation in 2011, as the oil sector contracted less and activity outside of the oil sector accelerated. Smaller oil exports narrowed the current account surplus, but foreign direct investment, mainly in oil and gas projects, rose by more than 20%. Higher public investment spending, supported by transfers from the State Oil Fund, is expected to help spur growth to 3.1% in 2013 and, as oil production increases, to 4.8% in 2014. Read more.