Page 60 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.80, # 1, 2023, pp. 54-66

In recent years, Azerbaijan has made significant investments in its aviation sector,
including the construction of a new terminal at Heydar Aliyev International Airport.
The new terminal, which opened in 2014, has a capacity of 6 million passengers per
year and is equipped with state-of-the-art facilities. Azerbaijan's national airline,
Azerbaijan Airlines, operates a fleet of modern aircraft, including the Airbus A320, A340,
and Boeing 757 and 767. The airline operates flights to more than 40 destinations in
Europe, Asia, and the Middle East. The aviation sector is an important contributor to the
country's tourism industry, attracting visitors from around the world to explore
Azerbaijan's rich cultural heritage and natural beauty.

Sea transport
Azerbaijan has access to the Caspian Sea, which provides a crucial transportation link to
the rest of the world. The country has two major ports that serve as gateways for sea
transport: the Port of Baku, the Port of Alat. The Port of Baku is located in the capital city
of Azerbaijan, Baku, and it is the largest port in the country. It serves as a key hub for sea
transport between Europe and Asia, with connections to the Black Sea, Mediterranean
Sea, and beyond. The port has modern facilities and infrastructure, including container
terminals, bulk cargo terminals, and passenger terminals. The Port of Alat is located on
the southwestern coast of the Caspian Sea, about 70 kilometers south of Baku. It is a new
and modern port, which opened in 2018, and it is one of the largest and most
technologically advanced ports in the Caspian region. The port is designed to handle a
variety of cargo, including containerized, bulk, and general cargo. It also has a ferry
terminal, which provides regular services to neighboring countries. Besides, it has a free
trade zone, which offers favorable conditions for businesses to operate. The “Azerbaijan
Caspian Shipping” CJSC (ASCO) is a state-owned company that operates a fleet of
vessels on the Caspian Sea. It provides a range of services, including cargo transportation,
passenger transportation, and oil and gas services. ASCO is one of the largest shipping
companies in the Caspian region, and it plays a critical role in connecting Azerbaijan with
other countries in the region. Overall, the sea transport infrastructure in Azerbaijan is well-
developed and provides an important link between Europe and Asia. The Port of Baku,
Port of Alat, and ASCO are key players in this transport network, providing vital services
for businesses and individuals alike.

Challenges and perspectives
Despite the significant investments in its transport infrastructure, Azerbaijan still faces
some challenges in its transport system. One of the main challenges facing
Azerbaijan's transport system is the lack of integration between the different modes
of transport. Although the country has made significant investments in its road, rail,
air, and sea transport infrastructure, there is still a need for better coordination and
integration between the different modes of transport.

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