Azerbaijan's CTC Accession To Simplify Shipments

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 21. Azerbaijan's companies will be able to use a single declaration, a single guarantee, and a unified transit procedure for shipments from Baku to any destination within the common transit zone, which encompasses 41 countries following the country's accession to the Common Transit Convention (CTC), a senior international expert on trade and the World Trade Organization (WTO), Marius Bordalba, said at the EU-Azerbaijan Business Forum in Baku on Wednesday, Trend 's correspondent reports from the event.

According to him, a project funded by the European Union is providing support to the State Customs Committee of Azerbaijan in its efforts to join the CTC.

"Accession to the convention will help accelerate border crossings, facilitate a transition to fully electronic processing, reduce costs related to guarantees, and ensure the application of uniform rules, requirements, and timeframes across all countries in the common transit zone. Furthermore, the convention provides legal certainty regarding liability, inquiries, and claims.

Since the beginning of October, three events have been held as part of this initiative, with the participation of the State Customs Committee," he noted.

The expert added that the first roundtable discussion involved representatives from the Association of International Road Carriers of Azerbaijan (ABADA), Azerbaijan Railways CJSC, and the Port of Baku. Participants discussed current transit practices, existing challenges, expectations regarding accession to the convention, and the readiness of companies to participate in the new system.

"The second event focused on transit guarantees under the convention. It was attended by guarantee-issuing organizations, banks, insurance companies, ABADA, and the Central Bank of Azerbaijan.

The third roundtable took place last week, involving Azerbaijani economic operators, including representatives of companies that utilize the green corridor system, as well as customs representatives. During the meeting, data was also collected to assess operational readiness," he added.

The EU-Azerbaijan Business Forum, marking the 30th anniversary of the partnership between the European Union and Azerbaijan and the 10th anniversary of the forum, is being held in Baku today. This year's forum is held under the theme“Connecting Corridors: Connectivity and Infrastructure.” The main focus is on developing transport connectivity and infrastructure, strengthening economic cooperation between the EU and Azerbaijan, and expanding regional trade and investment.

The program includes high-level discussions, thematic sessions, and business meetings involving representatives of the public and private sectors.

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