On October 30 1998 Azerbaijan ratified the Basic Multilateral Agreement on International Transport for the Development of the Europe-Caucasus-Asia Corridor, known as TRACECA. The programme will enable Azerbaijan to develop its transportation infrastructure and improve its business connections with Western Europe.
Since independence, the Azerbaijani government has attempted to introduce a measure of transparency in its contractual dealings with commercial entities. The government hopes to make progress through a programme to procure goods and services through commercial tenders and contests. This update outlines the main points of the regime.
Agreements signed by Azerbaijan, Georgia and Turkey outlining the legal framework for the Baku-Tbilisi-Ceyhan Main Export Pipeline have been ratified by the respective governments. Efforts to secure financing are now underway.
Including: Issues; Energy Industry